"With the new $2500 cap, we are expecting far fewer people will take advantage the FSA program, thusly resulting in decrease in LASIK volume for many practices around the county,” says Dr. Green.
Houston, TX (PRWEB) October 06, 2012
In 2013, the IRS is limiting the amount that can be allocated into a Flexible Spending Account (FSA) to $2500.This could have a major impact for Houston LASIK surgeons and around the country. In the past, most employers would allow up to $5000. The typical cost of LASIK is between $3900-$5000, so that means 2013 is the last year the entire cost of LASIK can be funded from an FSA.
A Flexible Spending Account is a system that allows employees to allocate pre-tax dollars to be used for medical expenses, savings the employee up to 38% in taxes. Employers deduct the allocated amount from the employee’s paycheck throughout the year. LASIK vision correction is an eligible expense under IRS guidelines. Enrollment for FSA is usually September through November for most employers, and funds become available for use on January 1st.
Dr. Mary Green, a Houston based ophthalmologist and LASIK surgeon at Eye Excellence expects this change to have a major impact on Houston LASIK volume. “We always see a major increase at the beginning of the year for LASIK in Houston due to Flex Spending. This program has always allowed patients to pay for LASIK while having a considerable tax break. With the new $2500 cap, we are expecting far fewer people will take advantage the FSA program, thusly resulting in decrease in LASIK volume for many practices around the county,” says Dr. Green.
Eye Excellence states they are preparing for the IRS change by changing LASIK pricing and offering multiple financing options to make LASIK affordable for most patients.
To learn more about the IRS changes, please visit http://www.irs.gov/pub/irs-drop/n-12-40.pdf or call Eye Excellence 713-791-9494.
About Eye Excellence: Eye Excellence is a multi-physician ophthalmology practice located in Houston, Texas. They specialize in LASIK, Cornea, and cataract surgery with an emphasis on technology and patient care.