A flexible spending account (FSA) is an employer-sponsored benefit that allows you to deduct a percentage of your paycheck and use that money to pay for eligible medical expenses. This is done on a pretax basis, meaning the money is exempt from federal, state and social security taxes.
It's a nice option for employees who expect to incur medical expenses that won't be reimbursed by regular health insurance plans. FSA operates on a "use it or lose it basis," meaning funds that are not spent get forfeited at the end of the year.
We suggest you schedule your FREE LASIK consultation to help determine how much money to allocate to your FSA from your paycheck each month before the procedure.
Interested in learning more about how HSA can help save additional money as well? Glad you asked.
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