HSA vs. FSA
HSA vs. FSA: What’s the Difference?
Health savings accounts (HSA) and Flexible spending accounts (FSA) both allow you to set aside money (before taxes) for specific health care expenses, like prescription eyewear and eye exams, but there are some key differences between them.
HSA vs. FSA
Health Savings Accounts:
- Roll over unused contributions year after year
- Can still be used after termination of employment
- Must accompany a high-deductible health insurance plan (individual or through an employer)
- Allow withdrawals with a 10% penalty fee
- Have a higher contribution maximum than FSAs
Flexible Spending Accounts:
- Typically require contributions to be used by the end of the year
- Can no longer be accessed after termination of employment
- Must accompany group insurance through an employer
- Don’t allow withdrawals
When an HSA Makes Sense
HSAs are a good match if you:
- Are enrolled in a high-deductible health plan
- Want funds that roll over forever
- Want the option to invest unused money
- Prefer more control and flexibility
For vision care purchases, HSAs offer the advantage of long-term savings and no deadlines.
Two ways to use your benefits
When an FSA Makes Sense
An FSA tends to fit people who:
- Don’t have a high-deductible health plan
- Prefer employer-managed benefits
- Expect predictable healthcare or vision expenses each year
- Want to save pre-tax dollars on prescription eyewear
The main tradeoff: FSAs typically expire each year (with a possible grace period or small rollover).
Using Either Account with Loci
No matter which account you have, you can use it on:
- Prescription glasses
- Prescription sunglasses
- Reading glasses
- Lens upgrades
Both cards typically process like debit cards at checkout. If not, you can submit your receipt for reimbursement.
Which One Saves You More on Vision Care?
It depends on your plan—but generally:
- FSAs may help with predictable annual expenses (like annual contacts or a new pair of glasses).
- HSAs offer greater long-term tax advantages, especially if you keep a balance year-to-year.
Whichever account you use, buying prescription eyewear with pre-tax dollars is almost always the most cost-effective option.
Frequently Asked Questions
Are Loci glasses covered by my insurance?
Yes. Loci is in-network for most major vision insurance plans which provide coverage or reimbursement for prescription eyewear. Coverage amounts vary by provider and plan. In the rare case that your plan is out-of-network, we provide detailed receipts and information to submit your glasses for reimbursement. Learn more
Are Loci glasses HSA and FSA eligible?
Yes.Loci prescription eyewear, reading glasses, and prescription sunglasses are generally eligible for HSA and FSA spending.Simply check out as normal and keep your receipt for your records.
How do I use my vision benefits?
Loci will help you check whether or not your plan is in network.If it is, we will link directly to your insurance provider. If direct benefits are unavailable, you may be able to submit your purchase for reimbursement.
Can I submit an out-of-network claim?
Yes.If direct benefits are unavailable, you may be able to submit your purchase for reimbursement. Learn more
What documentation will I receive for reimbursement?
We'll provide an itemized receipt containing the information typically required for reimbursement submissions.
