In our business we see many people who have Flexible Spending Accounts (FSAs) but don’t understand how to use them in the most beneficial and economical way
Ronkonkoma, NY (Vocus/PRWEB) December 07, 2010
Many people wait until the first of January to start thinking of New Year’s resolutions to better manage their money and their health, but for those with Flexible Spending Accounts there is little time to waste. In order not to risk the possibly of forfeiting unused money in FSA accounts under current IRS regulations, the money must be spent "within the coverage period" as defined by the benefits plan coverage definition. Consumers should take full advantage of making eligible healthcare purchases before the end of the year. Value Eyecare Network and 39DollarGlasses.com are reminding the public to have their eyes examined and order prescription eyeglasses or contact lenses before the possible end of the year deadline. This is known as the “Use-It-Or-Lose-It” rule.
“In our business we see many people who have Flexible Spending Accounts (FSAs) but don’t understand how to use them in the most beneficial and economical way,” says Dr. Marc Weinstein, CEO of Value Eyecare Network and 39DollarGlasses.com.
He explains, “When companies set up flexible spending accounts (FSA's) for their employees, they are a convenient and cost-effective way to make purchases of healthcare-related products. At the start of the year, you are given the opportunity to put a certain amount of your pay into an FSA account. Your employer deducts money from your paycheck and creates this account, from which you can purchase many items including prescription eyeglasses using pre-tax money. By the end of the year any unused amount may be forfeited unless you use it all by December 31st. It is sometimes termed "use it or lose it" for this reason. In this difficult economy I feel compelled to educate the public so that they don’t lose their valuable investment, and instead fully benefit from the advantages of having an FSA account.”
About 39DollarGlasses.com: 39DollarGlasses.com was developed by eye doctors to create an inexpensive method for people to acquire high-quality, finished prescription eyeglasses. It is completely doctor owned and operated with facilities in New York, producing essentially every kind of prescription eyewear, manufactured exclusively in the USA. Effectively all eyewear products available through 39DollarGlasses.com are pre-approved for Flexible Spending Account benefits.
For more information about allowable pre-tax eyewear purchases you may visit http://www.39DollarGlasses.com or call toll free at: 1-800-672-6304.
# # #