Flexible Spending Accounts
Flexible Spending Accounts (FSAs) are a great way to set aside money to pay for medical expenses and save on taxation. With a flexible spending account you set a schedule of deductions from your payroll disbursements to cover medical expenses throughout the year. This money is deducted from your pay checks according to the schedule you set forth and is exempt from all Federal, State and Social Security taxes. This means the amounts you set aside in the FSA are not included in your taxable income for the year and depending on your tax bracket this can lead to a sizable savings.
This is a great way to cover the cost of your vision correction procedure. Check with your Human Resources Department or Benefits Manager at work to see if your company offers such a plan. Most FSA plans stipulate that any funds set aside in the FSA which are not used by the end of the year are forfeited. Therefore, we highly suggest coming in for your Free Consultation to determine the cost of your individual procedure so that you know exactly how much to contribute to your FSA to cover your procedure cost without any overage at the end of the year.
For more information about the LASIK financing options available to patients throughout Ohio, West Virginia, Kentucky, and beyond, contact Bloomberg Eye Center. Our LASIK counselors will be happy to explain the details to you and schedule your free consultation.