Updating our glasses prescription is something we all do regularly, and it’s a fixed part of our eye care budgets. But it doesn’t have to come at a steep price—especially if you’re torn between quality lenses and a stylish frame. At Modern Day OptX, you can have both by using your FSA/HSA to pay for a premium pair of prescription eyeglasses . Sounds interesting? Here’s a complete guide to how it works, where the savings add up, and all the benefits you can unlock at our stores. What Are FSA/HSA? An FSA (Flexible Spending Account) or HSA (Health Savings Account) is a practical way to set aside pre-tax money specifically for healthcare expenses. Each pay period, a portion of your income goes into one of these accounts, reducing your taxable income and giving you funds for qualified medical costs throughout the year. Both FSA and HSA accounts let you cover a range of healthcare needs, from prescriptions to copays to essential medical equipment, making it easier to budget for out-of-pocket costs. One of the things you can spend your hard-saved funds on is prescription eyewear at Modern Day Optx . However, how these funds are accumulated, spent, and managed over time—along with what remains at year’s end—depends on the type of account you have. FSA/HSA: Key Differences Here's a closer look at how FSA/HSA differ in key areas to help you decide which one best fits your healthcare needs and spending style. Eligibility FSAs are available only through employer-sponsored benefits , meaning you can’t open one on your own outside of an employer plan. On the other hand, HSAs require enrollment in a high-deductible health plan (HDHP) . So if you’re covered by an HDHP, you have the option to open an HSA whether or not your employer offers it. Ownership With an FSA, your employer technically owns the account , which means that if you leave your job, any remaining funds usually don’t go with you. HSAs, however, are individually owned —meaning that once you contribute to an HSA, it stays with you, even if you change employers or retire. Contribution Limits FSA contribution limits are typically lower than those for HSAs and are set annually by the IRS. For example, in 2024, you can contribute up to $3,050 to an FSA. HSAs allow higher contributions: in 2024, individuals can contribute up to $4,150, and families up to $8,300. These higher limits make HSAs attractive for those who anticipate higher healthcare expenses or want to build a healthcare savings fund. Funds Rollover and Usage Deadlines FSAs have a “use it or lose it” rule , meaning you typically need to spend the money by the end of the year. HSAs offer greater flexibility, as funds roll over every year with no deadlines to spend them. This means your HSA can grow over time, making it suitable for saving for long-term or unexpected medical costs. Tax Benefits Both FSAs and HSAs offer tax advantages. With an FSA, contributions are deducted pre-tax from your paycheck, which lowers your taxable income. HSAs provide a “triple tax advantage” : your contributions are pre-tax, the funds grow tax-free, and withdrawals for qualified medical expenses are also tax-free. Investment Options Unlike FSAs, which don’t offer investment options, HSAs allow you to invest your contributions once you’ve saved a minimum balance (set by your account provider). This gives your HSA potential for growth similar to a retirement fund, providing more value over time. How to Use Your FSA/HSA for Eyewear Shopping Imagine it’s the end of the year, and you pop into Modern Day OptX, ready to buy your new prescription glasses. You’ve got two different ways to pay—either with your FSA or your HSA. Let’s see how each plays out. As you walk in, you’re aware that your FSA funds are about to expire . You’ve been meaning to grab new prescription glasses, but time got away from you. Now, it’s crunch time. Your FSA has a balance left, and you know you need to use it before the year ends or lose it. So you’d better get the most out of it! On the other hand, if you had an HSA, the situation feels a bit different. The year is winding down, but there’s no rush. Your HSA funds roll over year after year , so you don’t have to worry about any deadlines. There is also no pressure to spend everything— whatever is left on your account after this purchase stays there . So, you browse through the Modern Day OptX eyewear selection and find the perfect pair—those lovely frames that fit you like a glove, and they also come with the latest lens technology. Just what you wanted! As you head to the counter, the cashier processes your order and asks if you'd like to pay with your FSA/HSA . You give the green light, and the payment is deducted directly from your savings account, whether it’s FSA or HSA. The transaction is quick, and you’re happy that you’ve made sensible use of the funds. The glasses are all yours, and you’ve got a great pair to carry you into the new year! Buy Prescription Glasses Affordably at Modern Day OptX! Got some FSA funds to spend before they vanish at year’s end? Or maybe you've built up a solid balance in your HSA and figure it’s time to treat yourself to new prescription glasses. Either way, Modern Day OptX has dozens of fantastic options waiting for you! From timeless classics to fresh releases, explore top models from leading brands like ic! berlin, Cazal, Andy Wolf, J.F. Rey, Saint Laurent , and more. Take a stroll through the store and see each pair up close. Our friendly assistants are ready to guide you in finding the frames that fit your look and lifestyle perfectly. Use your FSA/HSA wisely at our flagship locations: 463 Amsterdam Ave (corner of W 82nd St) or 575 Columbus Ave (corner of W 88th St) . Come find a pair that brings out your best—we’re ready when you are!
