Popular Optometric Practice Reminds Area Residents to Use Their FSA and HSA Accounts

MARIETTA, Ga., Nov. 20, 2017 -- East Cobb Eye Center is encouraging area residents to make use of their Flexible Spending Accounts (FSA) or Health Savings Accounts (HSA) when purchasing eye and vision care, services, and products. "As we get toward the end of both the calendar year and the tax year, it only makes good sense to leverage these products for health care needs, including eye and vision care," says Dr. Melissa Giannamore, a Board-certified optometric physician.

Dr. Giannamore is quick to point out that Flexible Spending Accounts, which workplaces offer so employees can put pre-tax income toward healthcare funding, has many advantages as well as some important limitations. "FSAs can accept up to $2,500 in funding for a medical FSA, or up to $5,000 to pay for dependents' needs, so as long as you're reasonably sure you'll spend those totals, it's a great way to lower your pre-tax income while also ensuring that you'll have the medical funding you need," she says. "But after December 31st, you lose whatever portion of your contribution you didn't spend -- and that's an easy mistake to make."

Dr. Carrie Hughes, a new associate, recommends that FSA account holders consider putting some of those remaining dollars toward such eye care essential as annual comprehensive eye exams, eyewear, contact lenses, sunglasses; even LASIK is eligible as well as any necessary treatment for ocular diseases. She notes that some individuals may not be aware that their FSA money can fund eye care just as easily as other types of medical care, adding that there are no restrictions on insurance coverage compatibility with these accounts. "It's very much a 'use it or lose it' situation, so if you need eye care, you may as well spend FSA money on it before the year runs out," says Dr. Hughes.

HSAs, which are owned directly by account holders instead of by employers, must be connected to high-deductible health insurance policies. Apart from their portability, Dr. Giannamore feels that the biggest plus in their favor may be the fact that the funds roll over from year to year. "You don't have to worry about losing your contribution money if you don't send it by December 31st," she says. "But if you really want to reduce your tax burden for the current tax year, you'll want to make tax-free distributions, in the form of medical expenses, as well as pre-tax contributions." Talk to Dr. Giannamore about using this money for LASIK as well.

The doctors urge patients to call (770) 642-4001 or schedule their eye care appointments at eastcobbeyecenter.com.

East Cobb Eye Center, serving North Fulton County and surrounding areas, provides a wide range of eye and vision care services for patients. With 25 years serving the community, East Cobb Eye Center will take care of all eye care needs.