SOURCE: The Eye Institute of Utah

The Eye Institute of Utah

February 16, 2016 09:01 ET

Salt Lake City LASIK and Eye Care Practice Says to Beware of Deadlines to Use Remaining 2015 FSA Funds

The Eye Institute of Utah Is Advising Those Who Have Balances on Their Flexible Spending Accounts From Last Year to Be Sure and Use the Funds Before They Expire in March, 2016

SALT LAKE CITY, UT--(Marketwired - Feb 16, 2016) - Doctors and eye care professionals at The Eye Institute of Utah, a Salt Lake City ophthalmology practice, say it's very important for individuals who are thinking about using funds from their Flexible Savings Accounts (FSAs) for treatment of visual refractive errors to be mindful of the March, 2016 deadline. FSAs and Health Savings Accounts (HSAs) have helped people all over the U.S. save pre-tax money from their paychecks and use those funds to offset health expenses that their insurance policies may not cover. Some FSA and HSA plans allow you to roll over up to $500 of unspent funds from the previous year instead of offering the first quarter grace period. With that in mind, a lot of these accounts, particularly FSAs, have a cut-off date for which any remaining balances for the previous year can be utilized -- in other words, a "use it or lose it" rule.

FSAs and HSAs are sponsored by many employers and are designed to allocate some of the funds from an employee's paycheck, before taxes, to an account designated for health expenses. The doctors at The Eye Institute of Utah say funds from the account can often be used for LASIK or PRK laser vision correction and other refractive surgeries; however, they note, it's important for those who would like to use their 2015 FSA balance to schedule an appointment with an experienced ophthalmologist as soon as possible in order to reduce the chance that the funds will be forfeited once the March deadline expires.

The Salt Lake City LASIK surgeons say most FSA balances can be used during the first quarter of the following year, and those who make plans to have their procedure performed before March may still be able to use any remaining funds before they are gone.

About The Eye Institute of Utah
The Eye Institute of Utah is a comprehensive eye and vision care practice serving patients throughout Utah and the Intermountain West, including Nevada, Idaho, and Wyoming. The practice was established by Dr. W. Andrew Lyle in 1980 as the largest office-based eye surgery center in Utah. Known as a leader in the fields of cataract surgery and laser vision correction, The Eye Institute of Utah is comprised of a team who offer treatments for an array of vision conditions and eye disorders. The practice is also routinely involved in a number of clinical research studies to help continue the advancement of treatment techniques in the field of ophthalmology. The Eye Institute of Utah surgeons are available for interview upon request.

For more information about The Eye Institute of Utah, please visit theeyeinstitute.com and facebook.com/theeyeinstitute.

To view the original source of this press release, click here:
https://www.theeyeinstitute.com/news-room/salt-lake-city-lasik-and-eye-care-practice-says-to-beware-of-deadlines-to-use-remaining-2015-fsa-funds

Contact Information

  • The Eye Institute of Utah
    755 East 3900 South
    Salt Lake City, UT 84107
    (801) 266-2283

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