If you wear glasses or contact lenses, you may have considered having surgery to correct your vision. LASIK involves the use of a laser beam to reshape your eye’s cornea the round, clear, domed part that covers the surface of the eye in order to better focus light rays on your eye. retina. But LASIK eye surgery can be very expensive without insurance. Is LASIK eye surgery, however, covered by insurance? Occasionally, and only under certain circumstances, certain vision insurance policies include benefits that can assist in defraying the expense of laser eye surgery. It’s crucial to thoroughly study your insurance contracts to see what kind of laser vision correction coverage you have.
In this article, I have provided answers to what LASIK eye surgery is, how much it costs and whether it is being covered by insurance.
What is LASIK Eye Surgery?
LASIK stands for Laser-Assisted In Situ Keratomileusis. It is a type of refractive surgery that corrects vision by reshaping the cornea. LASIK is the most common type of refractive surgery. It does not require a general anaesthetic, which can be a concern for people who might not want to undergo the procedure.
LASIK eye surgery is an outpatient procedure that takes about fifteen-twenty minutes to perform.
The LASIK procedure is done in two stages: first, the surgeon creates a thin flap on the cornea using a laser, and then they reshape it with an excimer laser, which removes tissue from beneath the surface of the flap. This process is repeated until the desired correction has been achieved. The flap is then replaced and allowed to heal for three to five days before a follow-up visit.
LASIK eye surgery is one of the most popular procedures for correcting nearsightedness, farsightedness, and astigmatism.
Does Insurance Cover LASIK Eye Surgery?
In most cases, insurance does not cover LASIK eye surgery. This is because it is considered to be elective and cosmetic.
However, some employers or health plans may offer discounts for the surgery. Moreso, a lot of workplaces provide a health savings account (HSA) or flexible savings account (FSA), which let you save pre-tax money all year long to utilize for medical costs like LASIK.
3 Major Reasons Why Insurance does not Cover LASIK Eye Surgery.
1. LASIK Eye Surgery is not a medical necessity: It is an elective procedure and not life-saving.
2. LASIK Eye Surgery is not covered by most insurance providers because it is elective and not medically necessary.
3. The cost of LASIK Eye Surgery may be too high for some people to afford out-of-pocket expenses, even with insurance coverage.
However, Medical insurance policies may, in exceptional cases, cover refractive or LASIK eye surgery for the following conditions:
1. Eye surgery for refractive issues caused by trauma.
2. Eye surgery to correct surgically caused refractive defects in the eyes.
3. Eye surgery for serious refractive issues; Though there is no set threshold for impairment at which insurance will pay for treatment. People should check with their providers because insurance coverage in these situations is typically quite erratic.
When a patient needs eye surgery because they are not only physically unable to use glasses (due to an allergy or deformity) but also physically unable to wear contacts (lens intolerance).
If you want to know if you are covered by a plan that offers benefits, contact your insurance provider. You could need to pay for the expenses out of your own cash, with your flexible spending account, or with a health savings account.
Does Vision Insurance cover LASIK?
The answer is No, LASIK is not covered under vision insurance. Most vision insurance companies do not cover LASIK. However, there are some exceptions like Blue Cross Blue Shield of Massachusetts, Cigna and Aetna for example.
Does Health Insurance cover LASIK?
LASIK eye surgery is an elective operation, hence most health insurance policies do not cover it.
However, some insurance providers include Lasik savings in their member rewards or special offers programs. By doing this, you can reduce the cost of the operation facility’s cash price.
Health insurance policies that provide the benefit can typically save you $715 on each eye’s Lasik operation.
Additionally, the discounts are typically applied at the moment the bill is given, allowing you to lower your out-of-pocket expenses without worrying about compensation.
Remember that any costs for Lasik will not be covered by your health insurance plan’s deductibles and copayments because Lasik benefits are a discount program rather than conventional health insurance coverage.
Does an FSA or HSA cover LASIK?
Yes, you may use funds from an FSA or HSA to pay for Lasik eye surgery.
According to IRS Publication 502, Lasik is still regarded as a qualifying medical expense even though it is an elective operation and not medically essential. In other words, you can utilize money from a flexible spending account or a health reimbursement plan to pay for your surgery.
When paying for medical bills, tax-advantaged accounts like an FSA or HSA are a helpful tool to help your money go further. Your actual medical expenses won’t be decreased by these accounts. Instead, they will cancel out the taxes you owe on the cash you used to cover your procedure.
By using an FSA, the average customer can save 38% on the price of Lasik. Actual savings, however, can differ depending on your tax rate and the price of your surgery.
In addition, any insurance company discounts may be combined with savings from an FSA or HSA. You can further reduce the price of your Lasik procedure by combining the two.
How much does LASIK Eye Surgery cost?
LASIK eye surgery can be expensive, but the cost of LASIK varies depending on factors such as the doctor you see and the method of LASIK that you need.
The average cost for LASIK ranges from $2,000 to $3,000 per eye. But it can range from $1,500 to $3,000 depending on the circumstances.
Even though the price seems high, it is a one-time investment that covers pre-surgery care, the procedure, and any post-op examinations and care, which may end up being less expensive in the long run than ongoing costs like glasses, contacts, and other supplies should you decide not to have the operation.
Also, It’s important to keep in mind that advertisements promising LASIK for as little as $250-$300 usually refer to minor repairs and are intended to entice people to seek out more information.
What You Need to Know About LASIK Procedures.
LASIK is a surgical procedure that involves reshaping the cornea by using a controlled laser to remove tissue and create a flap. This flap allows light to reach the clear, healing surface of the new cornea which is then treated with an ointment. Once this ointment has been applied, LASIK patients can typically see clearly in just a few hours after surgery without any glasses or contacts. LASIK has been used for more than 20 years and millions of people have benefited from this procedure. LASIK is safe and effective when performed by an experienced LASIK surgeon.
If you are interested in having your own LASIK surgery, make sure to visit with a board-certified ophthalmologist who can discuss the details of the procedure, risks, recovery time and other considerations related to the surgery.
4 Tips for Reducing LASIK Eye Surgery cost.
If you are considering LASIK Eye Surgery, then you should be aware of the cost of the procedure. The cost of LASIK Eye Surgery is $2,000-$3,000 per eye. This can be a large expense to take on without knowing how to reduce the costs.
Here are some tips for reducing LASIK Eye Surgery costs:
– Research your insurance coverage and see if they cover LASIK eye surgery.
Most eye, health, and insurance companies see LASIK as an elective operation. As a result, insurance coverage is not available for it. However, a lot of health and vision insurance companies have agreements with reputable, high-end LASIK clinics that allow them to provide plan members with lower costs. The practice might provide a comparable discount if your health or vision insurance plan doesn’t provide one with the provider you select.
– Discounts
If vision correction is something you want to focus on, discounts are an additional approach to assist with paying for LASIK. Tax refunds, signing bonuses for new jobs, performance bonuses from present jobs, windfalls, and even monetary gifts can all be considered bonuses. A classic example of a financial windfall is the recent stimulus payments made during the COVID-19 pandemic.
– Open a Health Savings Account
Consider opening a health savings account (HSA) as a tax-free way to contribute to the cost of LASIK surgery. Due to the fact that the contributions are not subject to payroll taxes, the tax savings function as additional savings. Additionally, pretax income is utilized to cover medical costs that are not covered by insurance. If you are eligible for an HSA and are covered by a high-deductible health plan, you may be able to utilize funds from the HSA to cover eligible medical costs, such as LASIK, without having to pay federal taxes. The idea is even better because certain employers contribute to it.
-Ask your doctor about financing options and payment plans.
Many surgical practices provide financing options to eligible patients in order to assist them in covering their portion of the bill. Financing programs are essentially interest-free payment schedules. Patients frequently opt to utilize low- or no-interest credit cards that give bonus miles for air travel or other incentives.
Conclusion
It is important to speak with an expert physician who specializes in laser vision correction before deciding on LASIK eye surgery. A thorough eye exam that measures visual performance and evaluates eye health will assist determine whether the operation is medically necessary. So, does insurance cover LASIK Eye surgery? To check your policy and establish potential coverage if you are a suitable candidate for LASIK, speak with your individual or corporate benefits manager.