Complete Guide to Eyecare Payment Options
Vision correction surgery continues to grow in popularity thanks to new technologies that reduce recovery time, increase your comfort levels, and deliver long-lasting results. If you’re considering vision correction like LASIK, PRK, ICL, CLE, or even cataract surgery, we understand the investment can be a factor in your decision making process. At Kleiman Evangelista Eye Centers of Texas, we strive to make high-quality eyecare accessible and affordable, without compromise.
To help you in that journey, we’ve put together a quick guide of 5 ways to make vision correction work for your wallet and get you back to seeing the life you love.
5 Ways to Pay For Vision Correction Surgery
1. Insurance to Pay for Cataract Surgery
Kleiman Evangelista works with a long list of insurance providers to ensure patients receive the eyecare they need when they need it. Our team also takes pride in helping you understand your options and insurance coverage for procedures. Insurance companies can provide coverage for basic vision-related costs, but vision coverage can be limited, so it’s beneficial to know of any out-of-pocket costs beforehand. You can often find this information by referring to your insurance policy details or by speaking with an insurance customer service agent.
When it comes to medically necessary procedures, like cataract surgery, private insurances and Medicare will likely cover all or part of the procedure. Other requirements may need to be met, and your cataract counselor can help you understand details of your particular insurance coverage during your cataract consultation.
Can I Use Insurance to Pay for LASIK, PRK, or ICL?
The short answer is maybe. The long answer is that many insurance providers consider refractive procedures like LASIK, PRK, ICL, and CLE to be elective, not medically necessary, and therefore don’t cover those costs.
Depending on your insurance coverage, you may receive discounted rates for your surgery. However, this coverage depends on your plan, where you live, and your deductible. It’s worth it to look into the details of your insurance coverage to learn more.
2. Financing Options
Another great option for making vision correction affordable is financing. Financing allows you to spread the costs out, through affordable monthly payments. Kleiman Evangelista Eye Centers of Texas is proud to offer interest-free financing for up to 24 months through our preferred lenders, CareCredit and ALPHAEON.
These plans allow qualified patients to spread their payments out for up to 60 months if needed to enjoy a lower monthly rate. Both ALPHAEON and CareCredit offer 0% interest payment plans for up to 24 months with no deposit necessary.
Your counselor can answer any questions you may have about financing and even help you prepare the application during your consultation.
3. Health Savings Account for Vision Correction Surgery
While insurance won’t cover elective vision surgery, you can use your health savings account (HSA) to offset vision surgery costs. An HSA is a tax-exempt bank account designated to pay for out-of-pocket medical expenses, like copayments, deductibles, and even glasses and contacts.
Essentially, you contribute a specified amount to your HSA before taxes from your paycheck. Keep in mind that your funds only become available as you contribute them. Schedule your LASIK consultation well in advance so that you are ready to book your surgery as soon as it’s right for you. And remember that HSA funds do rollover each year, so you can plan your surgery dates for when you have the amount that works for you – cover all or part of your procedure.
4. Flexible Spending Account for Vision Surgery
A flexible spending account, FSA, or flex dollars is a pre-tax account designated for medical expenses, like coinsurance, deductibles, and yes, vision correction surgery. During the enrollment period, you will set a fixed amount for contributions. You can’t change your plan or amount once it’s completed, so be sure to plan to make sure you can pay for your vision correction procedure.
Depending on your plan, some or all your funds may rollover for a limited time period at the beginning of the year. If you carefully plan the overlap of your old and new funds, you may have enough to greatly reduce your surgery costs. It can also be a great option to cover any remaining costs of cataract surgery after Medicare pays for its portion.
Redeeming your flex dollars and HSA funds is as easy as using a credit or debit card. For certain FSA accounts, you may need to submit your receipts for reimbursement. If you have both an HSA and FSA, you may be able to combine the funds to pay for your vision surgery.
5. Use Your Tax Refund to Pay for Your Procedure
Tax season is the perfect time to invest in your vision. While most people choose to use this “extra” check on the newest gadgets or a pricey vacation, vision correction surgery is a great way to make a lasting impact on your quality of life. If you know you’ll be getting a refund this year, get ahead of the game by scheduling your consultation and determining if you are a candidate.
You can even speak to your accountant during the next financial year about deducting your expenses. That means an even greater return for you next year!
Vision correction procedures can reduce your lifetime costs for glasses, contacts, contact solutions, prescriptions, and other eye care expenses. Without these costs, corrective procedures can pay for themselves! Clear vision is priceless.
Are you still unsure of the best option for paying for your vision correction surgery? The knowledgeable staff at Kleiman Evangelista Eye Centers will help you review your options to make treatment a possibility! Get all your questions together beforehand to avoid financial surprises and schedule your free consultation today to get on the road to your clearest vision.