Our Payment Options
Laser Eye Surgery of Erie accepts a variety of payment options for your laser vision correction (LASIK or PRK) procedure. Our LASIK Coordinator will be happy to answer your questions and help you determine your most affordable payment method. You may pay with cash, any major credit card, a Flexible Spending Account (FSA), a Health Savings Account (HSA) or select a financing option. We are pleased to offer two financing options, Care Credit and the Erie Federal Credit Union*. You can apply for a Care Credit account online or over the phone and quickly receive an answer. The Erie Federal Credit Union has many convenient locations and it’s easy to apply online or at one of their branches.
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Health Savings Accounts & Flexible Spending Accounts
At Laser Eye Surgery of Erie patients can use a tax-free Health Savings Account (HSA) or Flexible Spending Account (FSA), to pay for LASIK/PRK surgery with pre-tax dollars, which could mean a 20-30% discount for those who are eligible. Employer HSAs or FSAs are a popular way to reduce the cost of LASIK/PRK surgery.
What is possible using FSAs and HSAs?
Participating employees are able to set aside pre-tax dollars for the surgery and other approved medical expenses. Depending on income level, you can save up to $1,200 a year with certain HSAs or FSAs. A key piece of information to remember is that FSA dollars are time sensitive. Any contributions you put toward your FSA account usually must be spent by the close of your employer’s next enrollment period. When a patient is interested in utilizing a FSA for LASIK/PRK, there are two points of interest to check on:
In most cases, your entire annual allotment can be used in its entirety if desire on the first day of the plan year even though all contributions have not been made. Read your plan details and/or check with your administrator. Determine if your FSA plan allows for a short “grace period” after the end of your company’s enrollment year where funds can “roll over” into the following enrollment year. HSA accounts are a little different in that those dollars do not expire.
Common Questions about Flexible Spending Accounts (FSA)
FSAs can be confusing, but leveraging a Flexible Spending Account (FSA) is a great way to pay for LASIK/PRK surgery. Whether you have unused FSA dollars you need to use before they expire, or you want to enroll for an FSA account for the coming year, now is the time to start planning if you want to cover your LASIK surgery costs.
How Does an FSA Work?
If you enroll in an FSA, it allows you to use pre-tax dollars to pay for medical procedures like LASIK/PRK surgery. Predetermined FSA contributions are deducted from employee paychecks throughout the year before they become subject to payroll taxes. This can reduce your annual tax liabilities. Typically, the full amount of your FSA is available to you in the first day of your plan year, so you don’t have to wait until the end to use it for your LASIK/PRK costs. Additionally, some FSA plans allow for a short “grace period” after the end of your company’s enrollment year where funds can “roll over” into the following enrollment year. So, if you haven’t used your FSA yet, you should consider that as an option.
Is There a Cap on FSA Contributions?
You should also keep in mind that since January 1, 2013, a federal limit was set for FSA contributions, capping them at $2,500 per enrollment year. Still, leveraging an FSA is often the best option for qualified candidates looking for a way to cover LASIK/PRK costs. If you are not sure if you are a good candidate for LASIK/PRK surgery, schedule a FREE consultation with Laser Eye Surgery of Erie before you make your plans for enrollment. Approximately 20% of those who come to Laser Eye Surgery of Erie are deemed not a good candidate for laser vision correction surgery, so having that information beforehand is vital to your FSA planning.
Tips for Using HSA or FSA on LASIK Surgery
Be sure to check with your HR department for enrollment deadlines in your company’s HSA or FSA benefits, as well as to gain clarification on the approved uses for your FSA to ensure LASIK/PRK surgery is included.
Do some research on the FSA plans available to you. Do they have a grace period? Can you use the full amount before you have contributed the full amount?
Ask questions. At Laser Eye Surgery of Erie, our staff and doctors are ready to help find answers to your questions, so you can take full advantage of your HSA or FSA.
Don’t have a HSA or FSA account? LASIK/PRK is still considered a tax-deductible expense.
Other Payment Options.
For your convenience we accept Visa, Mastercard, American Express and Discover. If using a personal Debit/Credit card for a large purchase amount you will need to call your bank prior to payment to authorize your withdrawal amount. We do accept personal checks, however for large purchase amounts payment is required 14 days prior to procedure.
Care Credit Healthcare Finance offers extended payment plans. Fast, confidential service by phone 1-800-365-8295 or online at www.carecredit.com. Interest free option if paid within 6, 12, 18 and 24 months. No interest if paid in full within promotional period
Erie Federal Credit Union offers unsecured loans at competitive interest rates and convenient monthly payment plans. Apply online at www.eriefcu.org or visit one of their branches to apply in person. Lows from 12 – 60 months at competitive interest rates.