Three little know facts about Health Savings Accounts/Flexible Savings accounts
As Eyecare professional, I know how important it is to plan for your health expenses, especially when it comes to vision care. Today, let’s talk about Health Savings Accounts and Flexible Savings accounts—or HSA/FSA—and share three little-known facts that can save you money!"
First, did you know that an HSA is not just a savings account? It’s actually a powerful financial tool. Your contributions are tax-deductible, the growth is tax-free, and withdrawals for qualified medical expenses— designer eyeglasses,sunglasses, or contact lenses —are also tax-free. It’s a triple tax advantage!" Where else can you get something from Chanel or Gucci tax free and also help with your tax deduction? You stayed healthy all year, so treat yourself for something nice
Second, health savings accounts are slightly different from Flexible savings accounts. The main difference is that health savings accounts roll over to the next year, flexible savings accounts expire at the end of the year. Make sure you know if you have a HSA or FSA account and if you have a FSA, you got to use it or lose it.
Third, don’t know what to do with your HSA or FSA account? Having trouble thinking about a holiday gift for your family or friends? You can use the money you saved to get a gift card from the Mott Optical Group. They chose from hundreds of designer frames, luxury frames, and independent eyewear exclusively at our stores.
"So, there you have it—three reasons to love your HSA! And if you’re looking to use those funds for stylish eyewear.
First, did you know that an HSA is not just a savings account? It’s actually a powerful financial tool. Your contributions are tax-deductible, the growth is tax-free, and withdrawals for qualified medical expenses— designer eyeglasses,sunglasses, or contact lenses —are also tax-free. It’s a triple tax advantage!" Where else can you get something from Chanel or Gucci tax free and also help with your tax deduction? You stayed healthy all year, so treat yourself for something nice
Second, health savings accounts are slightly different from Flexible savings accounts. The main difference is that health savings accounts roll over to the next year, flexible savings accounts expire at the end of the year. Make sure you know if you have a HSA or FSA account and if you have a FSA, you got to use it or lose it.
Third, don’t know what to do with your HSA or FSA account? Having trouble thinking about a holiday gift for your family or friends? You can use the money you saved to get a gift card from the Mott Optical Group. They chose from hundreds of designer frames, luxury frames, and independent eyewear exclusively at our stores.
"So, there you have it—three reasons to love your HSA! And if you’re looking to use those funds for stylish eyewear.
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