Use It, Don’t Lose It: Flexible Spending Accounts Expire After the Holidays

As the end of the year approaches, so does the deadline to use funds in Flexible Spending Accounts (FSAs) and benefits in your healthcare plan. MyEyeDr., a full-service vision care company, wants to ensure patients don’t forget about the funds they’ve already put aside for their healthcare. FSA holders have the opportunity to make last-minute purchases with their healthcare providers before they lose their dollars at the end of the 2016 plan year.

An FSA is an account that holders put pre-tax dollars into throughout the year to pay for certain out-of-pocket health care costs. Some employers even make contributions. FSA participants are allowed to contribute up to a maximum of $2,550 in the 2016 plan year. And while some employers may grant a limited carryover extension of only $500 into the new year, most FSA holders are subject to the use or lose provision, meaning participating employees must incur eligible expenses by the end of the plan year, or forfeit any unspent amounts.

Additionally, health care plans of all kinds often expire at the end of the calendar year. Now is the time to ensure all benefits, including annual eye exams, have been taken advantage of to maintain optimal vision health.

These are some benefits available to patients looking to use their FSA dollars before they are gone:

• Second Pair of Glasses—refresh your look with a new pair of glasses. Explore the style guide to find the perfect look to fit your lifestyle and stop by your local MyEyeDr. office to browse the wide selection of brands and styles available.
• Prescription Sunglasses—purchase a pair of stylish sunglasses to add to your collection so you can see clearly and protect your vision from harmful Ultraviolet (UV) light. Because the suns sits lower in the sky during the winter, it can actually cause more damage than the summer sun.
• Extended Supply of Contact Lenses—plan ahead and order additional contact lenses with money you have already set aside before it is gone.
• Annual Eye Exam—use your benefits and schedule an appointment today for you and your family before the plan cycle ends for 2016.

“Just like mascara and milk, your benefits and FSA have an expiration date,” said Dr. Artis Beatty, vice president of professional services at MyEyeDr. “We encourage patients to take this time to plan ahead and use the remaining balance in their accounts on essential items that contribute to their overall health and well-being.”

MyEyeDr. makes vision health attainable and uncomplicated for any individual by accepting all vision insurance plans and providers. A comprehensive eye exam should be done annually to ensure healthy eyes and a healthy body. Glasses, contacts and even prescription sunglasses are all great ways to use FSA dollars before they are gone. Stop by your local MyEyeDr. today to browse our selection.

About MyEyeDr.
MyEyeDr. is a network of more than 300 local optometry practices in Connecticut, Delaware, Florida, Georgia, Illinois, Maryland, North Carolina, Pennsylvania, South Carolina, Virginia, West Virginia, and District of Columbia. Each MyEyeDr. office offers comprehensive eye care services, a wide selection of designer and value prescription eyeglasses and sunglasses and standard and specialty prescription contact lenses. By welcoming all vision insurance plans and providers, MyEyeDr. makes vision health attainable for all individuals. The full-service eye care management company is headquartered in Vienna, VA. For more information about MyEyeDr., visit www.myeyedr.com or follow us on Facebook and Twitter.
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Media Contact:
Jami Sowers
Largemouth Communications (on behalf of MyEyeDr.)
jami@largemouthpr.com
919.459.6463