Visit our 2 convenient locations!

5900 Heckert Rd.
P.O. Box 324
Bakerstown, PA 15007
724-443-6767 Phone
724-443-6730 Fax

4001 Freeport Rd.
Natrona Heights, PA 15065
724-226-0444 Phone
724-226-0744 Fax


Will You Lose FSA Dollars

If you haven’t checked your FSA balance recently, now may be the time to check your account. These invaluable tax breaks can save you money, but it’s important to know your balance.  The Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, and recent Internal Revenue Service guidance added more flexibility to these plans. You can now use the medical FSA for more expenses, you have more time to use the money, and you may be able to change the amount of money you set aside in your medical or dependent care FSA in the middle of the year.

As part of an employee benefit, you can set aside up to $2,750 pretax to a health care FSA for 2020. FSAs are pretax monies that can save an employee up approximately 30% on out of pocket medical expenses.

Employees may use their FSA funds to cover certain qualified medical expenses that their employer’s plan does not cover, such as co-pays and deductibles. Other qualified medical expenses include contact lenses, eye exams, eyeglasses, crutches, and hearing aids.

Different than a Health Savings Account (HSA), FSA’s must be used within the calendar year.  In January of each year, employees must decide how many pretax monies are withheld in the form of payroll deductions.  Employees anticipate what they feel they will spend during that year that is not covered by insurance.  Because many employees are concerned when judging what they may spend, they opt not to participate in FAS’s and actually leave money on the table.

Depending on your employer – they can offer employees two options to use it or lose it rule, or none at all.  However, the employee must choose one of the two options.  The carryover option allows an employee to transfer $500 of unused contributions from one plan year to the next. For example, if an employee has $500 of unused contributions in 2020, then he or she may carry those funds over into the 2021 plan year.

Second, with the grace period option, an employee has 2 1/2 months after the end of the plan year in which to use his or her unused contributions. For example, if an employee has unused contributions at the end of a plan year (December 31, 2020), then he or she must use those contributions by the following March 15, 2021, or risk forfeiting them.

The best solution is to know your balance and prepare to spend down those pretax dollars.  Your best move is to do a good job of accurately estimating your healthcare and dependent care expenses for the year so that you don’t run into a situation where you’re struggling to deplete your account balance. But if your company offers one of the above protections, you’ll go in with less risk.

Bissell Eye Care provides comprehensive eye care for the entire family.  New designer frames, contact lenses, sunglasses, and protective eyewear are items that can be used to spend down your account.  Don’t lose out…know your balance.

About Bissell Eye Care: John D. Bissell, OD owns and operates Bissell Eye Care servicing Northern Pittsburgh and Alle-Kiski Valley regions. With two locations to treat patients, we offer evening and Saturday appointments. Bissell Eye Care provides comprehensive eye examinations for the entire family beginning as early as 6 months, ocular disease detection and treatment, eyeglasses, sunglasses, activewear, contact lenses, and low vision examinations for those with significant vision loss. We accept most types of vision and health insurance plans. For more information, visit or call our Bakerstown Office at 724-443-6767 or Natrona Heights office at 724-226-0444.