Posted by: Manhattan LASIK Center
It’s almost the end of the year, so it’s time to use up your savings from your HSA or FSA! The money from these accounts can go towards various medical and visual needs, including vision correction procedures.
Although correcting your vision with one of these procedures can seem unaffordable, it doesn’t have to be. You can significantly reduce the cost by putting your HSA or FSA savings towards the cost. You can finally achieve visual freedom from glasses and contact lenses!
But how do you use your savings? Which vision correction procedure should you get?
Why not think about a minimally invasive laser vision correction procedure called SMILE? Keep reading to learn more about HSAs, FSAs, and why you should use that money to get SMILE!
HSA vs. FSA
An HSA, or Health Savings Account, is a personal savings account you can use to set aside pre-tax income and to pay for certain out-of-pocket healthcare costs. You do not need an employer to open an HSA for you, but you need to be covered by a high-deductible health plan to make current-year contributions.
An FSA, or Flexible Spending Account, is similar, but there are a few differences. With an FSA, your employer must offer this as part of your benefits package for you to open one.
Your employer can contribute to your FSA, but it’s not required. Your FSA allows you to put pre-tax income aside to pay for healthcare costs that you have to pay out-of-pocket.
HSAs roll over from year to year, meaning that if you don’t use up all the money in the account by the end of the year, you’ll still have access to that money. FSAs do not roll over, so you either have to use the funds by the end of the year or lose them.
HSAs often come with a higher health insurance deductible, so if you have a low deductible, you probably have an FSA through your employer. It’s important to know which kind of plan you have, so be sure to check before the end of the year!
Also, remember that there’s a limit on how much you can put into each account. The exact amount changes each year based on inflation and other factors.
For 2022, you can put up to $3,650 in an HSA for single plans and up to $7,300 for family plans. The limit for FSAs is lower, around $2,750. FSAs sometimes have a grace period of a month into the new year, and you may be able to roll over up to $500.
But if you have an FSA, you want to use that money or at least have a plan for it before the year ends.
Using Your Savings Account
Money from HSAs and FSAs can go towards various out-of-pocket medical expenses. These can include eye care expenses, like eye exams, glasses, and contact lenses.
But it also includes elective procedures, like vision correction surgery. Using your HSA or FSA to help pay for a laser vision correction procedure is an excellent idea if you’ve been thinking about improving your vision. If you want the biggest bang for your buck, SMILE is the way to go!
Why Should You Consider Having SMILE?
SMILE, or Small Lenticule Extraction, is a laser eye procedure. Although it has some similarities to LASIK, it’s a distinctly different procedure.
SMILE uses a femtosecond laser to permanently reshape your cornea. Reshaping the cornea corrects refractive errors. Unlike LASIK, SMILE only corrects nearsightedness and astigmatism.
It cannot correct farsightedness. But if you’re nearsighted or have astigmatism, you may find that SMILE is a better option for vision correction.
The procedure is less invasive than LASIK. LASIK is already a minimally invasive procedure with a short recovery period. But SMILE is an even more straightforward procedure with a faster recovery time.
There are also fewer post-surgical side effects, which include fewer dry eye symptoms. In particular, SMILE is often the better choice if you already struggle with dry eyes or dry eye syndrome.
SMILE is far less likely to result in side effects like dry eyes during recovery, making for a more comfortable recovery. SMILE does not involve creating a flap, which can be problematic for patients with thinner corneas.
If you’ve been told you don’t qualify for LASIK, you may be better suited as a candidate for SMILE instead. Combine that with the fact that SMILE provides virtually identical results to LASIK, and it’s easy to see why it’s a desirable method of vision correction!
Paying for SMILE
If you have a family HSA, it may cover most of the cost of undergoing SMILE. But if you have a single-payer plan or an FSA, it’s necessary to understand that it likely will only cover part of the procedure cost.
However, it’ll still help cover a significant part of the procedure, making it more affordable. Your HSA or FSA may make it possible to pay out-of-pocket for the rest of the procedure.
Consider looking into one of the many no-interest financing options with low monthly payments you can apply for. At Manhattan LASIK Center, we offer up to 24 months of interest-free financing through CareCredit and Alphaeon to help make correcting your vision as affordable as possible. Between these plans and funds from your FSA or HSA, it’ll be easy to pay for the sight of your dreams!
With SMILE, you can live your life unhindered by glasses and contact lenses. You’ll also save money in the long run because you’ll no longer need to pay for glasses and contact lenses!
Once you’ve paid off your procedure, SMILE starts paying for itself. You’ll own your fantastic vision for the rest of your life, making it a worthy investment.
Are you ready to take the next step toward achieving visual freedom? Put your FSA or HSA funds to good use before the year ends by scheduling your free SMILE consultation at Manhattan LASIK Center in Manhattan, NY, now!