HSA/FSA
Paired With Savings: Does Pair Eyewear Take HSA or FSA?
Stand out from the crowd with Pair Eyewear's changeable frame toppers.
November 10, 2024
Sam O'Keefe
Co-founder & CEO of Flex
Overview
Overview
Overview
HSA and FSA Eligibility of Pair Eyewear:
Pair Eyewear is eligible for purchase with a Health Savings Account (HSA) or Flexible Spending Account (FSA). You can use your HSA or FSA card to purchase or pay for it out-of-pocket and be reimbursed.
Pair Eyewear has partnered with Flex to make paying with your HSA or FSA a seamless part of the checkout.
Unless you’re Steve Jobs, you don’t wear the same thing every day. So why do we act like our glasses are the equivalent of a black turtleneck?
Fact is, prescription glasses are expensive and the average wearer only gets a new pair every few years when their insurance covers it. That’s changed thanks to Pair Eyewear, who offer an easy and economical to spice up your lineup of specs.
It’s all in the quick switch of the top frame — the company offers customizable glasses with interchangeable frame covers so you can keep your look fresh and on a budget. Bye bye black and hello bold colors and classic patterns!
Best yet, you can use your HSA or FSA to pay for Pair Eyewear glasses. Read on for an eyewear economics lesson you’ll actually enjoy.
What is Pair Eyewear?
From boredom in a dorm room to a fashion brand giving back
Nathan Kondamuri had worn glasses since the age of eight. By the time he got to university, he had grown tired of his frames and wanted a better way to express his personality without having to spend hundreds of dollars on a new pair. After meeting Sophia Edelstein, they decided to redefine the eyewear experience by bundling freedom of choice and affordability.
How does Pair Eyewear work?
Pair Eyewear offers customizable glasses with a simple switch of the “front” frame.
It all starts with the base frame, which look and feel and work just as typical glasses do. Choose the shape that fits your face then select the lens type — from single vision to progressives, and add enhancements like blue-light filtering or UVA and UVB protection.
Top it off with a swappable top frame (sans lens), which lets you magnetically snap on bold patterns, classic colors, or polarized lenses so you can switch up your style any day of the week.
Can you purchase Pair Eyewear with your HSA or FSA?
Yes! Prescription eyeglasses and prescription sunglasses are considered eligible expenses for your HSA and FSA.
Reading glasses, prescription lenses, frames, and lens enhancements are also HSA and FSA eligible.
Note that non-prescription blue-light blocking glasses are not considered HSA or FSA eligible by the IRS. While this means you can’t automatically use your health savings funds to pay for a pair, you may still qualify if your doctor "prescribes" them to treat a specific medical condition and writes you a Letter of Medical Necessity (more on this below).
How to Purchase Pair Eyewear With Your HSA/FSA
Step 1: Add the HSA/FSA-eligible glasses you want to your cart
Pair Eyewear has partnered with Flex to make purchasing their products with HSA/FSA much easier.
Step 2: Select “Flex | Pay with HSA/FSA" at checkout
Select “Flex | Pay with HSA/FSA" as your payment option at checkout. You can then use either your HSA/FSA card or pay out-of-pocket with a regular credit or debit card (and receive the required documents to submit for reimbursement via email). It’s as simple as that.
Step 3: Keep Documentation
Keep all documentation, including receipts and the letter of medical necessity, for tax purposes and to ensure compliance with IRS regulations.
For further questions about using your HSA or FSA to purchase from Pair Eyewear, see their FAQ.
Why purchase Pair Eyewear with your FSA/FSA instead of insurance?
To start, your vision insurance may not cover it. Typically, vision insurance covers routine eye exams, prescription glasses (typically a new pair every few years), and contact lenses, however, some services, such as extra frames, lens coatings, and elective procedures may not be fully covered.
Instead, you can use your HSA or FSA for these out-of-pocket expenses because they offer more flexibility for health-related purchases.
Quick Reminder: What Are HSAs/FSAs
As a quick refresher, Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) are tax-advantaged financial accounts set up exclusively for health-related expenses. You can think of them a bit like supplemental coverage to help pay for healthcare expenses not covered by your health insurance — and they are great tools for managing healthcare costs.
HSAs and FSAs are designed to be used for qualified medical expenses which the IRS stipulates “must be primarily to alleviate or prevent a physical or mental disability or illness” and includes costs associated with diagnosis, cure, mitigation, treatment, or prevention. In Publication 502 (the link above) you will find a comprehensive list of approved items.
However, you can also pay for items that aren’t pre-approved if you receive a Letter of Medical Necessity from a healthcare professional.
Why You Should Take Advantage of HSAs or FSAs for Pair Eyewear
There are a few reasons you want to consider using your HSA or FSA to buy a Pair Eyewear:
Tax savings: Because HSAs and FSAs are tax-advantaged financial accounts, you can put money away for medical fees while also reducing your taxable income. Specifically, contributions are pre-tax and withdrawals for qualified medical expenses are tax-free, which means you can save 30-40% on purchases because of tax savings.
FSAs are Use It or Lose It: One major difference between FSAs and HSAs is that most FSA funds that are not used by the end of the plan year are forfeited. There is the potential for a grace period or a limited rollover option, but in the end, you will either need to use your funds or lose them.
Be proactive about your health: Think of your HSA or FSA as letting you take control of your health because you can choose to invest in preventative or mitigating products or services not typically covered by your health insurance. This approach can help to detect problems early, reduce the risk of disease, and generally maintain a healthier lifestyle.
How do returns, exchanges, or canceling an order work with HSA or FSA?
You have 30 days from the date of delivery to initiate a return for Pair Eyewear. For their full return policy, please visit their FAQ.
HSA and FSA Eligibility of Pair Eyewear:
Pair Eyewear is eligible for purchase with a Health Savings Account (HSA) or Flexible Spending Account (FSA). You can use your HSA or FSA card to purchase or pay for it out-of-pocket and be reimbursed.
Pair Eyewear has partnered with Flex to make paying with your HSA or FSA a seamless part of the checkout.
Unless you’re Steve Jobs, you don’t wear the same thing every day. So why do we act like our glasses are the equivalent of a black turtleneck?
Fact is, prescription glasses are expensive and the average wearer only gets a new pair every few years when their insurance covers it. That’s changed thanks to Pair Eyewear, who offer an easy and economical to spice up your lineup of specs.
It’s all in the quick switch of the top frame — the company offers customizable glasses with interchangeable frame covers so you can keep your look fresh and on a budget. Bye bye black and hello bold colors and classic patterns!
Best yet, you can use your HSA or FSA to pay for Pair Eyewear glasses. Read on for an eyewear economics lesson you’ll actually enjoy.
What is Pair Eyewear?
From boredom in a dorm room to a fashion brand giving back
Nathan Kondamuri had worn glasses since the age of eight. By the time he got to university, he had grown tired of his frames and wanted a better way to express his personality without having to spend hundreds of dollars on a new pair. After meeting Sophia Edelstein, they decided to redefine the eyewear experience by bundling freedom of choice and affordability.
How does Pair Eyewear work?
Pair Eyewear offers customizable glasses with a simple switch of the “front” frame.
It all starts with the base frame, which look and feel and work just as typical glasses do. Choose the shape that fits your face then select the lens type — from single vision to progressives, and add enhancements like blue-light filtering or UVA and UVB protection.
Top it off with a swappable top frame (sans lens), which lets you magnetically snap on bold patterns, classic colors, or polarized lenses so you can switch up your style any day of the week.
Can you purchase Pair Eyewear with your HSA or FSA?
Yes! Prescription eyeglasses and prescription sunglasses are considered eligible expenses for your HSA and FSA.
Reading glasses, prescription lenses, frames, and lens enhancements are also HSA and FSA eligible.
Note that non-prescription blue-light blocking glasses are not considered HSA or FSA eligible by the IRS. While this means you can’t automatically use your health savings funds to pay for a pair, you may still qualify if your doctor "prescribes" them to treat a specific medical condition and writes you a Letter of Medical Necessity (more on this below).
How to Purchase Pair Eyewear With Your HSA/FSA
Step 1: Add the HSA/FSA-eligible glasses you want to your cart
Pair Eyewear has partnered with Flex to make purchasing their products with HSA/FSA much easier.
Step 2: Select “Flex | Pay with HSA/FSA" at checkout
Select “Flex | Pay with HSA/FSA" as your payment option at checkout. You can then use either your HSA/FSA card or pay out-of-pocket with a regular credit or debit card (and receive the required documents to submit for reimbursement via email). It’s as simple as that.
Step 3: Keep Documentation
Keep all documentation, including receipts and the letter of medical necessity, for tax purposes and to ensure compliance with IRS regulations.
For further questions about using your HSA or FSA to purchase from Pair Eyewear, see their FAQ.
Why purchase Pair Eyewear with your FSA/FSA instead of insurance?
To start, your vision insurance may not cover it. Typically, vision insurance covers routine eye exams, prescription glasses (typically a new pair every few years), and contact lenses, however, some services, such as extra frames, lens coatings, and elective procedures may not be fully covered.
Instead, you can use your HSA or FSA for these out-of-pocket expenses because they offer more flexibility for health-related purchases.
Quick Reminder: What Are HSAs/FSAs
As a quick refresher, Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) are tax-advantaged financial accounts set up exclusively for health-related expenses. You can think of them a bit like supplemental coverage to help pay for healthcare expenses not covered by your health insurance — and they are great tools for managing healthcare costs.
HSAs and FSAs are designed to be used for qualified medical expenses which the IRS stipulates “must be primarily to alleviate or prevent a physical or mental disability or illness” and includes costs associated with diagnosis, cure, mitigation, treatment, or prevention. In Publication 502 (the link above) you will find a comprehensive list of approved items.
However, you can also pay for items that aren’t pre-approved if you receive a Letter of Medical Necessity from a healthcare professional.
Why You Should Take Advantage of HSAs or FSAs for Pair Eyewear
There are a few reasons you want to consider using your HSA or FSA to buy a Pair Eyewear:
Tax savings: Because HSAs and FSAs are tax-advantaged financial accounts, you can put money away for medical fees while also reducing your taxable income. Specifically, contributions are pre-tax and withdrawals for qualified medical expenses are tax-free, which means you can save 30-40% on purchases because of tax savings.
FSAs are Use It or Lose It: One major difference between FSAs and HSAs is that most FSA funds that are not used by the end of the plan year are forfeited. There is the potential for a grace period or a limited rollover option, but in the end, you will either need to use your funds or lose them.
Be proactive about your health: Think of your HSA or FSA as letting you take control of your health because you can choose to invest in preventative or mitigating products or services not typically covered by your health insurance. This approach can help to detect problems early, reduce the risk of disease, and generally maintain a healthier lifestyle.
How do returns, exchanges, or canceling an order work with HSA or FSA?
You have 30 days from the date of delivery to initiate a return for Pair Eyewear. For their full return policy, please visit their FAQ.
Flex is the easiest way for direct to consumer brands and retailers to accept HSA/FSA for their products. From fitness and nutrition, to sleep and mental health, Flex takes a holistic view of healthcare and enables consumers to use their pre-tax money to do the same.