Does your workplace offer a flexible spending account? Why not use that money to buy some inexpensive prescription glasses?
Some time ago, I blogged about using your health savings account to purchase prescription eyewear online. The same concepts apply to the flex plan. Basically, you contribute money tax-free off the top of your paycheck to a flexible spending account. Then that money you can use for qualifying health expenses.
What are qualifying expenses? Well, eyeglasses and contact lenses are a qualifying expense (See this link at the irs for a complete list) Simply purchase your eyeglasses from one of the online retailers and save your receipt in your files (helpful links: comparing the top online eyewear retailers and why I like GlassesUSA.com )
Of course, it is important to remember that your flexible spending account money (FSA) needs to be cleared out at the end of every year. So plan accordingly.
More helpful links:
- From Square One: Buy your next pair of glasses online
- Wikipedia: Flexible spending accounts – great link for understanding the FSA program
- A 3 step guide to planning flexible spending account (FSA) contributions – a straight-forward plain-language guide about planning your FSA