Insurance and LASIK Eye Surgery
Does insurance pay for LASIK? The average cost of laser eye surgery ranges anywhere from $1,000 per eye to $3,000. LASIK is considered cosmetic surgery by most insurance companies. Because of this, it is important to figure out how you can finance your laser eye surgery without the help of insurance. Luckily, there are ways to save money for your procedure without having to pay out of pocket, since it’s not possible to have your insurance pay for LASIK eye surgery.
Using Your Flexible Spending Account (FSA)
A flexible spending account is something an employer is able to offer their employees that allows one to deposit a set amount of untaxed money per month towards medical spending. How much one contributes to this account is up to the account owner, but the maximum amount of money one can contribute to their FSA per year is $2,650. Read our blog post to learn more about your flexible spending account options.
Using Your Health Savings Account (HSA)
A health savings account is similar to a flexible spending account, but allows one to deposit up to $3,450 in their account, or $6,900 for a family. In addition, the money one saves in this account does not disappear after the end of each year like it does with flexible spending accounts. If your employer gives you the choice between the FSA or HSA, the HSA is highly preferable. However, both options are great for medical procedures deemed cosmetic. Another example of a reason one might dip into their HSA or FSA is to pay for braces, a common procedure that is usually not recognized by insurance companies.
Paying with CareCredit
Once you have figured out whether your ophthalmologist accepts your insurance company or not, you can begin to research payment options. However, because it is commonplace for insurance companies to not recognize LASIK as a medical necessity, you may also be given the option of using CareCredit, which allows no interest for 24 months and a price match guarantee. Paying for your procedure a little at a time throughout the span of a year with no interest can be a safe and secure way to finance your costs. One year or less of incremental payments is well worth a lifetime of 20/20 vision.
The Cost of LASIK
Now that you know that you can pay for LASIK with your HSA, FSA, and CareCredit, your next step is to start saving for your procedure. If you are on the fence about deciding if LASIK is worth it, check out this LASIK eye surgery calculator that can give you an idea of how much money you can save on eye care, eye care products, and lenses throughout your lifetime by paying for just one procedure. For an in-depth understanding of the cost of LASIK, visit our cost of LASIK page.
Start Your LASIK Journey: Free Consultation
Your consultation is a time for us to ask questions to determine if you qualify for LASIK, and for you to also ask questions about what to expect from this process. The earlier you start your consultation, the better. One of the first questions we get is, “Does insurance pay for LASIK?” Unfortunately, it does not but not all hope should be lost. Receiving an estimate on your surgery early in the process will enable you to set savings goals. This is especially important when it comes to paying with a flexible spending account so that you do not save too much and lose money at the end of the year because it went unused. To get an idea of what we look for to determine if one qualifies for LASIK, visit our blog. Finally, it is important that wherever you go for your LASIK procedure that you trust your surgeon. A trustworthy surgeon will have not only plenty of experience and successful procedures, but will always consult with you to make sure that you are a good candidate. Learn more about how to choose the right LASIK surgeon.