LASIK has proven to be an incredibly effective way to reduce the need for glasses and contact lenses for those who desire permanent vision correction. One of the first things many people consider when thinking about getting LASIK is how much it costs and how they will pay.
Many people wonder if insurance will cover a permanent vision correction procedure like LASIK. Keep reading to learn if insurance will cover the cost of LASIK!
Elective Procedures
Elective procedures are procedures that are deemed not medically necessary. Many insurance companies only cover medically necessary procedures.
Medically necessary procedures are needed to maintain or restore your health or to treat a diagnosed medical problem. LASIK is considered an elective procedure.
Since it is an elective procedure, many insurance companies will not pay for you to have LASIK. However, you shouldn’t let cost deter you from achieving your vision goals.
Thanks to special financing options, you may be able to budget for the LASIK procedure and invest in your eyesight sooner rather than later!
Financing with CareCredit and Alphaeon
Stahl Eyecare Experts accept two different healthcare credit financing options, Alphaeon Credit and CareCredit. With 0% LASIK financing options, you won’t have to take on the total cost of LASIK all at once.
Instead, you can divide the cost into monthly installments that fit your budget. Find out how to sign up for special financing options at your LASIK consultation at Stahl Eyecare Experts and see what works for you.
Can an FSA or HSA Help With the Cost of LASIK?
LASIK has a very high satisfaction rate. Over 96 percent of people who have had LASIK are happy with their results.
Although LASIK can significantly improve your quality of life, most people will still have to take time to consider a purchase that large. You may be able to decrease the cost of the procedure if you have access to an FSA or an HSA.
FSA
A flexible spending account (FSA) is a separate account that you can hold money in. Typically, these are offered by employers as a worker’s benefit.
What is unique about this account is that any money put into it is untaxed and can be withdrawn and used for specific healthcare costs. You can use this money for healthcare purchases like LASIK.
It is important to keep in mind that there is usually a cap on what you can put into the account with an FSA. Due to the cap, you’ll likely not be able to cover the entire procedure with your FSA money.
Some employers may match FSA contributions, further saving you money. Make sure to carefully read through your FSA information and speak with your employer or accounting department.
You will want to fully understand the limitations and rules regarding your particular FSA agreement.
HSA
A health savings account (HSA) can be much more lenient. The money put into HSAs roll over into subsequent years and typically have higher contribution limits.
HSAs are also owned by the individual instead of the employer. You are always free to change your contribution to an HSA.
This differs from an FSA since FSAs typically require you to adjust your contribution during an enrollment period. However, HSAs are much more restricted regarding who can open one up.
Do you want to learn more about the different payment options, so you can start to improve your quality of life with LASIK? Schedule a LASIK consultation at Stahl Eyecare Experts in Garden City, NY, today!
