Flex Spend Accounts Save Money Only if You Use Them

Prism Optical

Don’t lose your Flexible Spend Money

What is a Flexible Spending Account?

Well here’s the short answer:  It’s a tax-advantaged account maintained by employers where employees can put a portion of each paycheck aside to pay for out-of-pocket medical expenses, such as eyeglasses and contact lenses. If your company offers them you should take advantage of the 15% to 30% tax breaks.

FSAs are a great way to save some of your hard earned money but they have deadlines that you need to keep track of. On average people lose $50 to $100 a year from their FSAs because they didn’t spend all that money in the account before the deadline. Which goes against why you put money aside in the first place.

One of the best things you can use your FSA money for is a new pair of eyeglasses. What’s the first thing people see when they meet you? Your eyes and your feet. True, and hey, you have countless pairs of shoes, why shouldn’t you have a second, third or more pair of eyeglasses?

Opening up the FSA was a brilliant thing to do. Getting your next pair of eyeglasses from Prism Optical Chicago is another. You’ll get the best service and highest quality lenses and the smartest part is you’ll pay less for your eyeglasses when shopping with us. It’s like earning interest on top of interest.