Are Glasses Approved as FSA or HSA Eligible Expenses?
YES!
Prescription glasses are included on the list of eligible expenses for your health savings account or flexible spending.
Qualifying expenses are listed in IRS Publication 502, which specifically states:
Eyeglasses
You can include in medical expenses amounts you pay for eyeglasses and contact lenses needed for medical reasons.
Use it or loose it?
The “use it or loose it” statement typically only applies to FSA’s (Flex Spending Agreements) and not to HSA’s.
Check with your account administrator for details.
Resources for Eligible Expenses
Contact lenses, eye exams, and eye surgery are also part of the the long list of eligible expenses (IRS Publication 502).
502 is the document that outlines itemized deductions for medical and dental expenses that you can claim on Schedule A (Form 1040). It’s also applicable to flex spending agreements (aka FSA’s).
See IRS Publication 969 for detailed information on health savings, medical savings, flex spending, and health reimbursement accounts.
– Health savings accounts (HSA)
– Medical savings accounts (Archer MSA and Medicare Advantage MSA)
– Health flexible spending arrangements (FSA)
– Health reimbursement arrangements (HRA)