Flexible Spending Accounts:
Ho to make Laser Vision Correction even more affordable
Save up to 50% on laser vision correction
Thousands of companies now offer their employees this versatile, yet underutilized, benefit, sometimes referred to as a "flex plan" or "cafeteria plan." An FSA can save you hundreds of dollars on medical bills and can be used to pay for laser vision correction. Depending on your tax bracket, using an FSA to pay for vision correction could save you up to 50 percent.
How it works
FSAs are not just a savings account. They save you money by decreasing the amount of taxes you pay. For instance, if you make $35,000 per year and pay 16% Federal Tax; 6% State Tax, and 7.65% FICA Tax, your total payroll taxes would be $10,377. However, if you contribute $3,000 to your FSA you would pay the same percent of taxes on only $32,000. This would give you net savings of approximately $900. The higher your tax bracket, the more you save.
How to enroll in an FSA
Check with your benefits manager at work to find out if FSAs are offered by your company. Employers open enrollment for FSAs only once a year. Some enroll in late fall and some in the spring. When your benefits manager sends out an enrollment form, fill it out immediately. You'll probably only have a week or two to sign up.
On the application, you'll need to decide how much of your salary you want deducted from each paycheck. This money will be deposited in your health care FSA. Most companies allow you to spend the money any time during the year, even when it has not fully accumulated in your account.
What to do now
To learn more about the procedures we offer, go to the surgical and laser vision correction procedures section of our Web Site. You can register online to attend a seminar or contact us to request additional information.