If you have a flex-spending account through your employer, or if you have medical insurance, or if you have some form of vision insurance, right now is the time to be thinking about how those funds should be used. At the end of the year, particularly, there can be quite a scramble to see that your money or benefits are put to good use and not wasted. The eye and vision care services provided at our office are some of the very best options for these funds!
As you know if you have one, flex-spending accounts are a great way to see your money go farther, since this is money set aside for your use before taxes have eroded the value of that money. One thing that is always an acceptable use of these funds is eyecare. But don’t wait until the very last minute, since everyone else with a flex account is probably thinking the same thing. It can sometimes be a difficult mission to get yourself fit into our office schedule as the end of the year approaches.
By the same token, if you have medical insurance, there is often a “deductible” involved. That means you must pay a certain amount out-of-pocket before insurance takes over (in whatever amount). Medicare, for example, is a common form of insurance where the deductible concept comes into play. If you have already met your deductible for this year, and if you have anything medical going on that relates to your eyes in some way, your visit here would be covered under your medical insurance with a minimum of out-of-pocket cost. So again, now is the time to have an eye exam – before the year runs out and a new deductible must be met for next year.
Non-medical vision insurance is a similar thing. Many vision plans run on a calender year. If benefits you are entitled to are not used by the end of the year, they do not carry over to following years. They are, in a sense, wasted, as these benefits have been payed for by yourself (through payroll deduction) or by your employer. So again, check your situation carefully.
So whether you have a flex-spending plan, medical insurance, or vision insurance, think about what you need to do by the end of the year to get the most from your particular set of benefits. But don’t think too long! The end of the year is just around the corner!