Find out how much you could save on a life-changing, elective vision procedure (not covered by insurance) by using your Flexible Spending Account.
Find out how much you could save on a life-changing, elective vision procedure (not covered by insurance) by using your Flexible Spending Account.
Simply fill your information into the calculator and submit to see your potential savings. This is a completely confidential form that will not be shared with any outside party.
Wikipedia defines household income as a measure of the combined incomes of all people sharing a particular household or place of residence. It includes every form of income, e.g., salaries and wages, retirement income, near cash government transfers like food stamps, and investment gains.
Average household incomes need not map directly to measures of an individual's earnings such as per capita income as numbers of people sharing households and numbers of income earners per household can vary significantly between regions and over time.
Average household income can be used as an indicator for the monetary well-being of a country's citizens. Mean or median net household income, after taxes and mandatory contributions, are good indicators of standard of living, because they include only disposable income and acknowledge people sharing accommodation benefit from pooling at least some of their living costs.
Wikipedia defines filing status as an important factor when computing taxable income under the federal income tax in the United States. The federal tax filing status defines the type of tax return form an individual will use. Filing status is based on marital status and family situation.
A taxpayer will fall into one of five possible filing status categories: single individual, married person filing jointly or surviving spouse, married person filing separately, head of household and a qualifying widow(er) with dependent children. A taxpayer who qualifies for more than one filing status may choose the most advantageous status.
The cost of your procedure should include all consultations, pre-op appointments, surgery and post-op appointments. The average cost of LASIK vision correction, including all related appointments, is $2,200 per eye.
Flexible Spending Accounts (FSAs) have a maximum contribution amount of $2,550. The money you place into this account is not subjected to tax so it will lower your taxable income amount. Most plans require that you use the money in your FSA within one year, but you may be able to roll over a portion of that amount.
If you don’t use your savings within the set timeframe, you may lose the money. Be sure to understand the limits of your own plan and make sure you are a good candidate for the procedure you are saving for before enrolling in an FSA.