Site for Sore Eyes Berkeley: The Freedom of Flex Dollars…

It is no secret that the holidays are a time when money is tight. Everything from the purchase of gifts, holiday cards and wrapping paper, to preparing for any number of festivities, parties, or dinners,  will more than likely run up credit card statements while decreasing immediate cash resources at the bank.

Saving money is difficult at this time of year (if not downright impossible). The last thing that most people are thinking of is health insurance. No, this week’s Site for Sore Eyes Berkeley blog does not focus on health insurance, but an option that a number of employers and health insurance companies are adopting. This option does not save money, but it gives you more flexibility on where you spend health care-related benefits (as opposed to receiving deductibles). Flexibility is the operative word, as “Flex Dollars” is the name of this option.

How do “Flex Dollars” actually work? The good people at Investopedia.com have a basic, but informative explanation…

“An example is being assigned $1000 to split between dental, vision and prescription drugs. An employee in this case can split it evenly between all three, or put all in just one if they feel that would be most beneficial to their situation. Some companies provide basic benefits coverage and add flex dollars for better coverage.”

So…in short...if you have immediate need for healthcare you have that much more currency to contribute to that specific treatment. If this sounds like something you’d like to consider, check with your insurance company (or the benefits plan offered by your employer) to see if the “Flex Dollars” option is available.

If you are already ahead of the curve, and have a “Flex Dollars” plan, there IS one caveat you may not be aware of: as many companies have a “use them or lose them” policy for vacation days, the same deal holds true for Flex Dollars. If they have not been spent during the course of the year, they cannot be carried over into the following year.

So, two questions:
1. Do you have any “Flex Dollars” left in your account?
2. Have you been keeping up with your vision health lately?

If you answered “yes” to the first question and “no” to the second, we simply state that you should consider using what is essentially ‘found money’ for having your eyes checked. So strongly does Site for Sore Eyes believe in the benefit of “Flex Dollars,” that it is currently the reigning campaign: “Get More Specs for Your Flex.”

It has been said that good health is a gift that we take for granted. If that is true, treat yourself to a holiday gift of healthy vision. Get your eyes examined, and if you wear eyeglasses or contact lenses, check your prescription is up-to-date.