Flexible Spending Accounts – Dr. Carlos Manrique de Lara

A Flex Plan (FP) or a Flexible Spending Account (FSA) is a benefit package option developed to provide you with flexibility and choice with coverage and spending on health care including laser vision correction. Unlike the traditional standard benefits package, both FP and FSA benefits give you and your company the opportunity to create the benefits package that will be most beneficial. These plans are usually open to all permanent employees of a company. Many companies permit you to review your benefit choices each year to ensure that they continue to meet your personal circumstances.

Flex Dollars – “Use them or lose them”

Due to IRS regulations, if the amount you have elected for your flexible spending account in a FP or FSA year exceeds the actual expenses created by you in the same Flex Plan year, the excess amount will be forfeited. Excess amounts will not be carried over from one plan year to another plan year. Your employer cannot return any money remaining in your FP or FSA to you.

Because of this policy, you may have a remainder of FP or FSA funds that should be used quickly, and what better way to spend your Flex Plan funds than on great vision.

Contact Manrique Custom Vision Center today and let us help you determine if Flex Plan or Flexible Spending Account dollars is the best financing option for you.

For more information on LASIK costs and Flex Plan options see IRS code IRC §105 and §213 or your company’s human resources department.