As the year draws to a close, many people are looking back on the past year and planning for the future. For patients of Avon Vision Associates in Avon, CT, and New Hartford Eye Associates in New Hartford, CT, now is the perfect time to ensure you’re making the most of your vision benefits. With the many options available, including Flexible Spending Accounts (FSA), Health Savings Accounts (HSA), and vision plans, understanding how to maximize these benefits can lead to significant savings and better eye health.
Why now is the time to use your benefits
The final months of the year are crucial for reviewing and optimizing your health benefits. Many vision plans operate on a calendar-year basis, meaning any unused benefits will not roll over into the next year. Additionally, FSAs have a “use-it-or-lose-it” policy, where funds not spent by the end of the year may be forfeited. While HSAs do roll over, it is still beneficial to use these funds for both immediate needs and long-term savings.
Understanding your vision benefits
Vision plans
Many vision plans cover routine eye exams, a portion of the cost of new glasses or contact lenses, and sometimes even procedures like LASIK. If you haven’t had your annual eye exam yet or need new eyewear, scheduling an appointment now ensures you use these benefits before they expire.
Flexible Spending Accounts (FSA)
FSAs allow you to set aside pre-tax dollars for medical expenses, including vision care. This can include exams, eyeglasses, contact lenses, and even some procedures. Since FSA funds typically expire at the end of the year, check your balance and plan to use these funds on any outstanding vision care needs.
Health Savings Accounts (HSA)
While HSAs do not expire like FSAs, using them can still be financially beneficial. HSAs offer a triple tax advantage: contributions are tax-deductible, growth is tax-free, and withdrawals for qualified medical expenses are also tax-free. Using HSA funds for vision care now can reduce your taxable income and free up other resources for future needs.
Steps to take before year-end
If you haven’t used your vision benefits yet this year, we recommend doing the following:
- Book an eye exam: Eye exams are essential for maintaining eye health and detecting early issues. If you haven’t had your annual exam yet, this is the perfect time to schedule an appointment with Avon Vision Associates or New Hartford Eye Associates.
- Refresh your eyewear: Whether you need new glasses, contact lenses, or a spare pair, using your benefits before they expire can help cover these costs. Both Avon Vision Associates and New Hartford Eye Associates offer a diverse range of eyewear in New Hartford and Avon to meet your style and vision needs.
- Review your benefits and plan: Take a moment to review your current benefits and any remaining balances. Planning ensures you won’t miss out on any potential savings.
- Speak with your provider: Avon Vision Associates and New Hartford Eye Associates have knowledgeable staff who can help you understand your benefits and how to use them effectively.
Looking to the future
Using your vision benefits before the year ends not only protects your eye health but also boosts your financial well-being. By taking action now, you ensure you’re not leaving any benefits unused and set yourself up for a healthy start to the new year.
Contact New Hartford Eye Associates or Avon Vision Associates today to schedule your eye exam in New Hartford or Avon and maximize your vision benefits. Your eyes—and your finances—will thank you!