I have written about Flexible health spending and HSA’s for Optical before as I think they are under utilized especially for Eyecare. I believe this is because awareness is so low so this is just a gentle reminder to help with that. Remember that many patients do not have optical insurance and don’t know that they can pay for any kind of Eyecare, including contact lenses and readers, with HSA dollars. Let them know about HSA’s if they don’t have insurance. They may be eligible for one. A good resource to find out more is from Wells Fargo’s site.
An HSA is good place to save pre-tax dollars and for many of us self-employed optical industry people without company health insurance we should not hesitate to open an HSA.
How much can I contribute?
In 2009, you can contribute up to $3,000 if you have single HSA compatible health plan coverage, or $5,950 if you have family HSA compatible health plan coverage. If you are age 55 or older, you can make an additional catch-up contribution amount of up to $1,000.
Previous HSA’s for Optical and Flexible Spending Account articles: