What Rec Specs Eyewear Is FSA/HSA Eligible?

January 31, 2024

Understanding your Flexible Spending Account (FSA) or Health Savings Account (HSA) can be simple, especially when it comes to buying eyewear. Here at Rec Specs, we offer a range of glasses and sunglasses that you can purchase using your FSA or HSA funds. We’ll go deeper on what FSAs and HSAs are, how they work, and how you can use them to get great performance eyewear without breaking the bank.

WHAT IS FSA/HSA?

Flexible Spending Accounts (FSA) and Health Savings Accounts (HSA) are tax-advantaged accounts designed to help individuals save for medical expenses. An FSA is typically offered by employers and allows you to set aside pre-tax dollars for out-of-pocket healthcare costs. On the other hand, an HSA is available to those with high-deductible health plans, providing a way to save and pay for medical expenses with pre-tax money.

HOW DO THEY WORK?

HSAs

Health Savings Accounts (HSAs) are unique savings vehicles for those with high deductible health plans (HDHPs). You can open an HSA through health insurance providers or financial institutions like banks. In 2023, you can contribute up to $3,850 to your HSA, and this limit is set to increase to $4,150 in 2024. One of the key advantages of HSAs over FSAs is their ability to accrue interest tax-free. Additionally, the funds in an HSA can be used for various healthcare expenses, including vision-related costs such as copayments for eye care.

FSAs

Flexible Spending Accounts (FSAs) are typically established through your employer. For 2023, the contribution limit is capped at $3,050, with an expected increase to $3,200 in 2024. FSAs are especially useful for covering vision care expenses like prescription glasses, eye exams, and prescription sunglasses. It's important to note that FSA funds generally have a one-year expiration period, following the start of coverage. Employers can provide specific details regarding coverage limits, important dates, and other guidelines for using FSA funds.

FUND AVAILABILITY & EXPIRATION

When managing FSA and HSA funds, be mindful of important dates. FSAs generally make funds available from the beginning of the coverage period, often starting January 1st, with the expectation to use these funds within the same year. Some FSAs, however, may have different start dates. HSA funds, on the other hand, are available throughout the year, provided you have an existing balance. FSA funds are bound to the coverage period, ending typically on December 31st, with some plans offering a grace period until March 15th of the next year for spending leftover funds. Certain FSAs also permit a rollover of up to $500. It's advisable to consult with your employer for the specific terms of your plan.

REC SPECS IS FSA/HSA ELIGIBLE

At Rec Specs, we offer a variety of eyewear that is eligible for purchase with FSA and HSA funds. This includes prescription glasses, sunglasses, and even safety glasses. Using your FSA or HSA to buy eyewear not only makes financial sense but also ensures you're getting quality vision care. Our range of eligible eyewear meets diverse needs and styles, ensuring there's something for everyone.

If you have a health savings account or flexible spending account, using your FSA/HSA card to order online at Rec Specs is just as simple as using any other credit card. Simply use it at checkout on our website, and enjoy the convenience and benefits of your FSA/HSA funds for your next eyewear purchase.

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Investing in your vision health is important, and using your FSA or HSA funds at Rec Specs makes it both affordable and convenient. Browse our collection of FSA/HSA eligible eyewear and take a step towards clearer vision and optimal eye health today. For more information, you can visit our Flexible Spending FAQs.

We also accept various vision insurance plans. While coverage can vary, and we don't work directly with insurance carriers, most plans will reimburse you for your eyewear purchase. Simply submit the itemized receipt we provide, and enjoy the benefits of quality eyewear with the convenience of insurance reimbursement. Make the most of your vision benefits with Rec Specs and ensure your eye health is always in the best hands.

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You can also use our easy at-home try on process to test out performance eyewear from the comfort of your home. Click here to get started building your kit for FREE. Don’t forget – we also offer a 30-day satisfaction guarantee on your purchase!