Will Insurance Cover LASIK?

If you’re considering LASIK, one of the things that may be holding you back from the procedure is the price. For many people, LASIK is everything they’ve ever wanted!

Who wouldn’t want to say they can wake up every day and see the world around them without needing glasses or contact lenses? But, if you’re concerned that LASIK may not fit in your budget, that’s understandable as well. Fortunately, there are many options in place to help make LASIK budget-friendly and affordable for patients.

Keep reading to learn more about if insurance will cover LASIK and other ways you can make LASIK more affordable!

LASIK is an elective procedure

woman smiling at camera

In the eyes of most insurance companies, LASIK is not a medically necessary procedure. Instead, it is considered an elective procedure, meaning patients choose to undergo it.

After all, if you wear glasses or contact lenses, you are already correcting your vision. The insurance company isn’t looking at the fact that wearing these visual aids can be frustrating, expensive, and even uncomfortable!

There are a few rare reasons why your insurance plan may cover a laser vision procedure like LASIK, including the following:

● You have refractive errors (nearsightedness, farsightedness, astigmatism) as the result of an injury
● You need a procedure like LASIK as the result of surgery
● You are both unable to wear glasses and contact lenses due to physical limitations
● LASIK is necessary to treat severe refractive errors, although there is no standard for the level of “impairment” that insurance will cover correction

Despite these exceptions, LASIK is, more often than not, not covered by insurance. In order to ensure that our patients are able to afford LASIK vision correction, Diagnostic Eye Center offers alternate options to pay for your procedure that help to reduce the cost or spread payments out over time.

Financing and payment options: Alphaeon Credit and LASIK Next

man putting money in wallet

If you don’t want to pay for LASIK out of pocket, there are other options available to you at Diagnostic Eye Center that can help ensure that the procedure fits within your budget.

Specifically, we offer financing options to help spread your LASIK payments out over time. Diagnostic Eye Center offers our patients financing through Alphaeon Credit, which has many interest-free options available without needing a down payment.

It’s simple to sign up for since you can complete an online application at our office with a valid ID. This allows you to pay for LASIK in a way that’s affordable without breaking the bank.

Diagnostic Eye Center also offers a LASIK Next program that rewards our patients with a long-term plan for better vision at a lower cost! As a member of our LASIK Next program, patients are credited up to $1,500 from eyewear and contact lens purchases at Diagnostic Eye Center toward the LASIK procedure.

This applies to LASIK on both eyes and includes patient contributions for glasses and contact lenses purchased from Diagnostic Eye Center made over a 3-year period before the date of having LASIK.

That’s $1,500 you no longer need to worry about paying for! LASIK Next provides you with ongoing value and lets you save up for vision correction at the same time. It’s a win for everyone!

FSAs and HSAs can help you pay for LASIK

FSA Credit Cards

Another way that you can pay for LASIK is with an FSA or an HSA. An FSA is a Flexible Spending Account, while an HSA is a Health Savings Account.

Though they sound quite similar, they are two different things. Both of these are accounts that you would receive from an employer as part of a health insurance plan.

With an FSA, you can set aside pre-taxed dollars from your paycheck to pay for eligible out-of-pocket expenses, like LASIK. You set the level that you want to contribute and then contributions to the account get spread out evenly throughout the year.

There is a bit of a catch. There is a maximum amount that you can contribute. For the year 2020, this amount is $2,750. You also must use the full amount within 12 months or you risk losing your contributions. If you know that you are already planning on having LASIK, an FSA is a great way to save money for your procedure.

An HSA is a similar concept, but not quite the same as an FSA. An HSA also lets you save pre-taxed dollars through payroll deductions that you can then use to pay for out-of-pocket healthcare costs.

To use an HSA, you need to be enrolled in a high-deductible health care policy. Unlike an FSA, you can set aside up to $3,550 for 2020 for an individual and up to $7,100 for a family.

You must also deposit all contributions in the HSA before you can use the money to pay for any eligible health care expenses. You also have no “use it or lose it” requirement with an HSA, so funds can accumulate. This is quite helpful if you are saving up for a procedure like LASIK over an extended period.

LASIK gives you the freedom to invest in yourself

hands in front of sun making a heart shape

On average, did you know that most people spend about $500 every year on glasses, contacts, and the accessories that go with them? That $500 adds up!

Yes, LASIK can seem like it’s a lot of money, but it’s truly an investment in yourself. Most patients can pay off their procedure after two years.

After paying off LASIK, your investment can start to make a real difference in your life! Imagine what you could do if you had an extra $500 in your pocket every year!

You could save up to buy your dream house, travel to Europe, start a business, or save your money for retirement if you wanted. The point is, after having LASIK, you no longer need to spend money on glasses, contact lenses, contact lens solution, or prescription sunglasses anymore. It’s all about freedom.

If you think that LASIK may be the vision correction solution for you, it’s time to find out if you’re a good candidate! Schedule a LASIK consultation at Diagnostic Eye Center in Houston, TX now!

Why wait if the best thing you’ve ever done for yourself could be right around the corner?