If you’ve been considering LASIK but are unsure about the cost, there are ways to make treatment more affordable. Many patients use pre-tax savings accounts or insurance benefits to reduce out-of-pocket expenses. Both Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs) can be applied toward LASIK. Below, we describe how you can navigate FSAs and HSAs for LASIK.
How FSA and HSA Work For LASIK
Both FSAs and HSAs are tax-advantaged accounts that allow you to set aside pre-tax dollars for qualified medical expenses. Since LASIK is recognized by the IRS as an eligible procedure, these funds can directly lower your costs.
Contribution Limits and LASIK Costs
An FSA is an employer-sponsored benefit that allows you to set aside pre-tax income for qualified medical expenses, including LASIK. The total elected contribution is available at the start of the plan year, allowing you to pay upfront for your procedure. However, FSAs are subject to the “use it or lose it” rule, meaning most funds must be spent within the plan year.
Health Savings Account (HSA)
An HSA is a tax-advantaged account available to individuals with high-deductible health plans. Contributions are deposited before taxes and must be in the account before they can be spent. One major advantage is that unused funds roll over from year to year, growing tax-free through interest or investments, making HSAs ideal for long-term healthcare savings, including LASIK.
Contribution Limits and LASIK Costs
For the 2025 tax year, the FSA contribution limit is $3,200 for individuals, whereas HSA limits are $4,150 for individuals and $8,300 for families. Since the cost of LASIK ranges from $2,000 to $3,500 per eye, your account can often offset a significant portion of the expense.
Other Insurance Considerations
Health Insurance
LASIK is typically considered an elective procedure and not directly covered by most private health or medical insurance plans. However, some insurers may offer indirect benefits, like a rebate or glasses allowance (e.g., $200), which could help offset costs. It’s a good idea to check your coverage before scheduling. After surgery, we can provide a detailed invoice for you to submit to your insurer for possible reimbursement or a rebate.
Vision Insurance
Separate from or in addition to medical insurance, vision insurance often also offers rebates. You may be eligible for a reimbursement or rebate for LASIK or other refractive procedures, so be sure to check the benefits of your vision insurance as well.
Maximizing Your Financial Planning
To make the most of your LASIK investment:
- Plan your FSA contributions early in your benefits enrollment cycle.
- Build your HSA over time to allow for long-term savings.
- Ask your health insurance and vision insurance provider about vision-related rebates or reimbursements.
- Request an invoice from our office to submit for potential reimbursement.
Schedule Your Consultation
Using your FSA, HSA, or private insurance rebates can make LASIK more affordable than you might expect. At NJ Eye and Ear LASIK Center, Dr. Hu and our team are committed to guiding you through the medical and financial aspects of vision correction. Schedule your LASIK consultation today and learn how simple it can be to invest in your eyesight.
