Use It Or Lose It: Flex Spending Accounts

If you are interested in seeing an eye doctor or optometrist in Seattle or need to see a doctor in a specialty outside of eye care, you may want to consider what the professionals at SPEX Eye Care have to offer. There are several aspects of FSA benefits you should understand before attempting to use them for eye care services.

Flex Spending Accounts For Optometry Services

Many things are worth knowing about flexible spending accounts. Generally, there is a use-it-or-lose-it rule, in which holders of these accounts need to use all of their tax refunds before the end of every plan year. If they do not, then they risk losing that money. Even though you do put the money in yourself, these funds do not roll over from year to year. Whatever funds you do not use will go back to your employer. This is not per the rules of the employer, but the rules of the IRS.

This might be a good thing for the company, but it is not good for you. It is a lot like straightforwardly donating your paycheck to your company to help with their financial issues. Unless you would be willing to do this, you should make sure that you use your flexible spending account by the end of the plan year as you should. There are many expenses that you could put these funds toward. For example, if you need any kind of eye care, you can probably use plan funds for some of them. The ones you will be able to use your flexible spending account for will depend on several factors.

Eye Doctor In Seattle

If you have a flexible spending account and are looking to use it on optometry services in Seattle, contact SPEX Eye Care today. For more information or to schedule an appointment, call us today.