LASIK Flexible Spending Accounts
2023 New Contribution Limits of:
- 2023 FSA Limit $3050 (Up from $2850 in 2022)
- 2023 HSA Limit $3850 (Up from $3650 in 2022)
- 2023 HSA Family Limit $7750 (Up from $7300)
What is a flexible spending account (FSA)? How can I use it to pay for my LASIK procedure?
A flexible spending is a program that is generally established by your employer. It is an account that offers several tax advantages. Your employer may contribute directly to your flexible spending account or FSA. Alternatively, you can also contribute directly to your flexible spending account from your pre-tax dollars. By using pre-tax dollars to pay for your health care or LASIK at the Orange County Eye and LASIK Center, you get an immediate discount on these expenses that would equal the taxes that you would normally have to pay on that money.
Our Orange County LASIK counselors and LASIK finance specialists are very knowledgeable about flexible spending accounts and how to make the procedure possible for you.
How much do I save if I have a LASIK or Health Care FSA?
With a flexible spending account, you can save between 20% to 40% on your LASIK surgery at the Orange County Eye Care, Cataract, and LASIK Center with pre-tax as opposed to after-tax dollars.
Your flexible spending account - use it or lose it!
It is important to remember, that your benefits are only available for you to use for your Orange County LASIK surgery for one benefit period. If you do not use your flexible spending account dollars they will expire and go wasted.
I already have a flexible spending account - how do I use it?
It is very easy to use your flexible spending account. Our LASIK coordinators will assist you with the process. Often, most human resource departments will require a receipt from us that you have had your LASIK procedure. Some human resource departments also require that one of their forms be filled out. Other FSA programs give you a credit card to pay for the procedure. Most FSA programs will simply reimburse you for your LASIK surgery once you have paid for the procedure. It is important for you to have your procedure when you are still eligible before your dollars expire. Please contact us so that we can help you with the process.
I do not have a flexible spending account - how do I get one?
Up to 90% of employees may be eligible for a flexibles spending account. You will need to enroll during the open season of your employer's FSA plan. Please contact your human resources department or employer on how to enroll. Once you have enrolled, you can begin to fund your account with your pre-tax dollars. Also, some employers will automatically fund your account without your contribution. If you need assistance in your open enrollment please contact us at the Orange County Eye and LASIK Institute.
How much money can I put into my flexible spending account?
Although there is no official limit, most employers will limit your contribution to your flexible spending account up to 5,000 dollars. This is actually more than the cost of your entire LASIK procedure in Orange County. However, tax laws are always changing so it is important to discuss the current FSA limits.
I have only a limited amount of money in my flexible spending account, can I finance the rest?
Yes! Many flexible spending accounts vary in structure, the amount funded, and duration. We will be happy to offer 0% financing for the rest of the costs of your LASIK surgery that are not covered by your LASIK flexible spending account.
If you have any questions, please call us at 949-450-2020
The Orange County LASIK Institute
3500 Barranca Parkway Suite 150
Irvine , CA 92606
Irvine and Orange County Eye Care, Cataract, and LASIK Center
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