Can FSA be used for eye surgery?

If you are a candidate for LASIK or other laser vision correction procedures, you can use your FSA or HSA dollars to help pay for it.

Is LASIK eye surgery FSA eligible?

Flexible spending accounts (FSA) can be used to pay for qualifying LASIK procedures. For LASIK to be considered a qualifying medical expense (and thus eligible for FSA funds), you must make an appointment with an ophthalmologist to first determine whether the procedure is medically necessary.

Is LASIK covered by FSA 2021?

LASIK laser eye surgery is an eligible expense under both FSA and HSA for the tax year 2021. The IRS has announced new contribution limits for both the Flexible Spending Account (FSA) and the Health Savings Accounts (HSA).

Can I use my HSA account for LASIK?

The short answer: Yes! Funds from your HSA can be used to pay for LASIK surgery, and speaking with your employer is a great way to learn more about your HSA options. Since HSA funds are treated on a pre-tax basis, you may even be able to save on surgery compared to paying cash out-of-pocket.

Is laser treatment covered by FSA?

Yes, you can use your FSA to pay for LASIK by using your tax-free flexible spending account (FSA) or health savings account (HSA) to reduce the expense of LASIK surgery by 25%. While most insurance plans cover basic eye care, LASIK is considered elective surgery.

Can you use FSA for laser hair removal?

Laser hair removal reimbursement is considered a cosmetic procedure and therefore not eligible for reimbursement with a flexible spending account (FSA), health savings account (HSA), health reimbursement arrangement (HRA), limited-purpose flexible spending account (LPFSA) or a dependent care flexible spending account ( …

Is Invisalign covered by HSA?

The IRS allows HSA payments for dental expenses, including Invisalign®, if those expenses are not eligible for reimbursement through insurance or other sources. We recommend that you contact your HSA provider for a complete list of which medical/dental expenses are covered.

Can I use my HSA for surgery?

Most of the time, the answer is unfortunately “no”. The HSA can only be used for cosmetic surgery if prescribed by a physician and deemed medically necessary. HSA funds can also be used to pay for COBRA or retiree medical insurance premiums.

How to use your FSA and HSA for laser vision correction?

Those who have access to these accounts may be interested to learn they can use their FSA or HSA for laser vision correction such as LASIK as these procedures are an eligible expense according to the IRS. Importantly, the IRS recently extended the deadline for contributions in light of the COVID-19 pandemic.

Can a vision plan cover laser vision correction?

Laser vision correction procedures including LASIK, SMILE, and PRK are eligible expenses. This is great news because while many insurance plans offer benefits and discounts for laser vision correction, these vision plans are unlikely to cover the entire expense.

Do you have to use your HSA or FSA?

There is no “use it or lose it” requirement with an HSA like there is with an FSA. You can allow the funds to accumulate until you are ready to use them. An HSA also includes a “catch up” contribution provision, which allows participants 55 and older to contribute an additional $1,000 toward their HSA.

What are the benefits of a TriNet FSA?

The main benefit of the program, according to Mike Travers, a senior benefits consultant at TriNet, is that you can access the full amount of your annual contribution election — even if you haven’t made all the pre-tax deductions for the year. “It’s one of my favorite benefits,” Travers said.