SOURCE: The Eye Institute of Utah

The Eye Institute of Utah

February 05, 2015 09:01 ET

Salt Lake City LASIK Practice Recommends Using Your 2014 FSA or HSA Balance Before March Deadline

The Eye Institute of Utah Says the March 2015 Deadline Is Fast Approaching to Use the Balance From a Flexible Spending Account or Health Savings Account Before It Is Forfeited Under the "Use It or Lose It" Rule

SALT LAKE CITY, UT--(Marketwired - Feb 5, 2015) - Flexible Savings Accounts (FSAs) and Health Savings Accounts (HSAs) have helped many people across the nation save pre-tax money from their paychecks to help offset health expenses that may not be covered under their insurance policies. However, many of these accounts, specifically FSA accounts, have a "use it or lose it" rule, meaning any remaining balances that have been allocated for that year are forfeited at a certain time. The Eye Institute of Utah, a Salt Lake City ophthalmology practice, says individuals who are considering using funds from their FSAs for LASIK laser vision correction, PRK, or other refractive eye surgeries should be aware that the ability to use 2014 funds will expire by March 2015.

Many employers sponsor programs like FSAs and HSAs, which allocate portions of an employee's paycheck, before taxes, and put them into a special account to use for health expenses. Doctors with The Eye Institute of Utah say that, in most cases, these funds can be used on vision correction procedures such as LASIK. The doctors say the best course of action for those who want to use these funds for vision correction treatments is to schedule a consultation with a reputable ophthalmologist as soon as possible to find out if they are a candidate for the procedure. If so, patients can contact their FSA or HSA administrator to explore their options on utilizing the balance to help pay for part of the treatment.

Ophthalmologists at the practice reiterate that, while the FSA balance can often still be used in the 1st quarter of the following year, most 2014 balances will be forfeited if they are not used before March of 2015. They say those who begin making plans now may still be able to take advantage of the remaining balance before it's too late.

About The Eye Institute of Utah
The Eye Institute of Utah was established in 1980 as the largest office-based eye surgery center in the state. The practice serves patients throughout Utah and the Intermountain West, including Wyoming, Nevada, and Idaho. With a team composed of eye surgeons, ophthalmologists, and optometrists, The Eye Institute of Utah is known as a leader in laser vision correction, cataract surgery, and treatments for glaucoma, dry eye syndrome, and other eye and vision conditions. The practice also participates in a range of clinical research studies and is dedicated to the continued advancement of techniques in the fields of eye surgery and vision care. 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/press-release/salt-lake-city-lasik-practice-recommends-using-your-2014-fsa-or-hsa-balance-before-march-deadline

Contact Information

  • The Eye Institute of Utah
    755 East 3900 South
    Salt Lake City, UT 84107
    (800) 760-4171

    Rosemont Media
    (858) 200-0044
    www.rosemontmedia.com