According to the latest report from the American Academy of Ophthalmology (AAO), more than 150 million Americans use corrective eyewear such as glasses or contact lenses, spending over $15 billion dollars each year to improve refractive errors. While many patients are concerned with the price of undergoing a laser vision correction procedure, Dr. Marc Bosem, a LASIK surgeon in Ft. Lauderdale, says that through employer-sponsored Flex Spending Accounts (FSA), paying for a surgical treatment can save money in the long run. Dr. Bosem discusses the benefits of using an FSA to pay for vision correction in Ft. Lauderdale.
The most recent study from the American Academy of Ophthalmology (AAO) reports that Americans spend over $15 billion each year on eyewear to improve refractive errors. This equates to more than 150 million people using corrective instruments such as glasses or contact lenses. In comparison, approximately 800,000 vision correction procedures were performed in 2010, according to the AAO report. At CORRECTVISION Laser Institute, a center for LASIK surgery in Ft. Lauderdale, Dr. Marc Bosem says many patients are starting to take advantage of the payment options that can make laser vision correction procedures like LASIK more affordable. Dr. Bosem reassures patients that although a certain mentality exists that LASIK will cost more than continuing with glasses or contact lenses, vision correction can save money long term through options such as a Flex Spending Account (FSA).
An FSA, also known as a Medical Spending Account or flex plan, is an employer-sponsored benefit allowing patients to pay for eligible medical expenses tax-free. Dr. Bosem says patients who expect to incur medical expenses not reimbursed by regular health insurance plans should consider taking advantage of their employer’s FSA benefit, if one is offered. He also adds that an FSA can be an efficient way to decrease taxable income and make beneficial procedures such as LASIK more affordable. Contributions to the FSA are deducted from income at designated, equal amounts each pay period and placed into a special account before Federal, State, or Social Security taxes are calculated. Dr. Bosem says on January 1 of each year, the allocated funds are made available for use towards medical expenses not covered by insurance. He says this type of account offers significant advantages to patients worried about paying for LASIK. “A single individual earning $40,000 annually that utilizes flex spending to pay $4500 for LASIK will save approximately $1,469.25, which is 33%.”
Dr. Bosem says patients looking to improve their quality of life with better vision can do so in an affordable and convenient way through the FSA and other payment options. Regardless of whether patients are considering a LASIK or another medical procedure, Dr. Bosem recommends his patients discuss FSA options with their employers and a financial advisor before making any decisions. “Flex spending accounts are a good option for patients considering a LASIK procedure because they create easier accessibility for procedures that previously may have been out of reach.”
About Marc Emory Bosem, MD
Dr. Marc Bosem graduated from the University of Miami Medical School, achieving Honors in Research, and is now the medical director of the CORRECTVISION Laser Institute. He completed his residency in ophthalmology at the University of Texas Health Science Center. Dr. Bosem is certified by the American Board of Ophthalmology and also certified as a LASIK surgeon from Moria and Bauch & Lomb. He is an active member of the American Academy of Ophthalmology, the Miami Ophthalmologic Society, and the International Society of Refractive Surgery and has presented his research and techniques to numerous national and international meetings.
CORRECTVISION Laser Institute has two locations at One SW 129th Ave, Ste 209 in Pembroke Pines, FL, reachable at (954) 501-0822, and 2300 N Commerce Pkwy, Ste 201 in Weston, FL, reachable at (954) 633-5488. It can also be contacted online via the website http://www.correctvision.com or http://www.facebook.com/pages/CORRECTVISION-Laser-Institute/360910644820.