Everything You Need to Know About Insurance with 1800 Contacts

Are you someone who frequently wears contacts? If yes, then you know the importance of having a good insurance policy. 1800 Contacts is a popular contact lens provider that offers insurance plans for their customers. In this article, we will discuss everything you need to know about insurance with 1800 Contacts.

What is Insurance with 1800 Contacts?

1800 Contacts offer a unique insurance policy for their customers. This policy is called a “Flex Spending Account” (FSA). This insurance policy is provided through a third-party called WageWorks.

What is an FSA?

A Flex Spending Account (FSA) is a type of insurance policy that allows you to set aside a portion of your pre-tax income to pay for qualified medical expenses. These expenses can include contact lenses, eye exams, prescription sunglasses, and many other items related to eye care.

How Does FSA Work?

If you sign up for an FSA policy with 1800 Contacts, a portion of your paycheck will be deducted each month and put into an account that’s managed by WageWorks. You can then use the funds from that account to pay for qualified medical expenses as mentioned earlier.

The Benefits of Having an FSA Policy with 1800 Contacts

One of the significant benefits of having an FSA policy with 1800 Contacts is that you can save money on your eye care. Since you’re using pre-tax income, you’re not paying taxes on the money used for medical expenses, which means more money in your pocket. Also, having an FSA policy with 1800 Contacts allows you to budget your expenses and plan for any out-of-pocket costs that you may have.

What are The Drawbacks of Having an FSA Policy with 1800 Contacts?

One of the drawbacks of FSA policy is that it’s a “use it or lose it” policy. This means that any funds left in the account at the end of the year will be forfeited. However, 1800 Contacts offers a grace period of up to 2.5 months for you to use your remaining funds from the previous year.

Conclusion

In conclusion, having an insurance policy for your contacts can save you money and help you budget your expenses. 1800 Contacts offer an FSA policy through WageWorks that can help you do just that. The key advantage of this policy is that you’re not paying taxes on the money used for medical expenses. However, one drawback of this policy is that it’s a “use it or lose it” policy. Therefore, it’s essential to plan and budget your expenses accordingly.