Remove Blog Remove Flexible Spending Remove Health
article thumbnail

Vision expenses piling up? Use your HSA or FSA

WEX Inc.

However, for participants of health savings accounts (HSAs) or medical flexible spending accounts (FSAs) , there are ways to alleviate the financial burden associated with vision-related costs. Let’s explore a few common vision-related questions as it relates to your HSA or medical FSA. The post Vision expenses piling up?

Health 98
article thumbnail

Flexible Spending Account Contribution Limit Climbs

InterWest Insurance Services

The IRS recently announced that the annual contribution limit for flexible spending accounts will rise to $3,200 in 2024, up $150 from this year. Also, employees will be able to carry over up to $640 next year into 2025 if they have funds left over in their account, if their employer allows it (it’s optional).

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Vision expenses piling up? Use your HSA or FSA

WEX Inc.

However, for participants of health savings accounts (HSAs) or medical flexible spending accounts (FSAs) , there are ways to alleviate the financial burden associated with vision-related costs. Let’s explore a few common vision-related questions as it relates to your HSA or medical FSA. The post Vision expenses piling up?

Health 98
article thumbnail

Use one account to cover OOP expenses for dental and vision

Benefit Resource Inc.

If you have an HSA but you want to let the balance build up, you can pair it with a Limited FSA to cover out of pocket vision and dental expenses. Let’s go over how it might look to use vision and dental insurance with a Limited FSA to cover out-of-pocket expenses. Insurance takes care of a lot vision and dental expenses.

Health 74
article thumbnail

HDHP vs. PPO: Choose the health plan that’s right for you

WEX Inc.

Pre-tax employee benefits plans, such as HSAs and flexible spending accounts (FSAs) , let you save money by putting aside pre-tax dollars to pay for eligible medical, dental, vision and other expenses. This blog post was most recently updated in November 2024. Traditional Health Plan Calculator today! The post HDHP vs.

article thumbnail

6 things to know if you’re a first-time medical FSA participant

WEX Inc.

Did you recently elect to participate in a medical flexible spending account (FSA) ? What is a medical flexible spending account (FSA)? A medical FSA is a tax-advantaged employee benefit that gives participants the opportunity to save on out-of-pocket medical, dental, and vision eligible expenses.

Medical 98
article thumbnail

How does an FSA work for participants?

WEX Inc.

A flexible spending account (FSA) allows participants to save money by setting aside pre-tax dollars to pay for eligible medical, dental , vision and dependent care expenses incurred by you, your spouse, or your eligible dependents. Limited medical FSA, which covers eligible dental, vision and preventative care expenses.