Vision insurance plans are essential. They cover the cost of eye exams, glasses, contact lenses, and other vision care services.
If you want to find out whether you should get vision insurance, read on.
What Is A Vision Plan?
A vision plan is designed specifically to help people with visual problems such as cataracts or glaucoma. It covers all types of eye examinations including:
• Eye tests that check your eyesight
• Contact lens fittings
• Lenses made from different materials
• Lasik surgery
• Surgery to remove corneal scarring caused by keratoconus
The best way to tell if you need a vision plan is to see your optometrist regularly. He can diagnose many common conditions like macular degeneration, diabetic retinopathy, and age-related changes in the retina. These diseases cause permanent damage to your sight. Your doctor will be able to detect them early so they can be treated before there is a serious loss of vision.
You may not realize it, but some states require employers to provide vision coverage even though most companies already offer this benefit. In fact, more than half of small businesses now include vision coverage in their employee health plans. This means that nearly every employer offers at least basic vision coverage.
How Much Does Vision Coverage Cost?
Most vision plans come with two components:
1) An annual deductible – which is usually $50-$100 per year depending on what type of plan you choose For example, Blue Cross/Blue Shield has three levels of deductibles ranging from $25-$250 per person annually.
2) Covers 80% of costs after the deductible is met. So if you pay $150 each year towards your deductible, then your insurer pays up to $120 of the remaining balance.
Some insurers charge higher premiums when someone doesn’t meet his or her deductible within 12 months. Others give discounts for those who do. Some policies allow you to add additional expenses above the deductible without paying extra fees. However, others limit how much you can spend on eyewear, contacts, etc., without incurring a fee.
Do I Have To Pay Out Of Pocket When My Doctor Recommends Vision Correction Services?
No! Most vision plans reimburse 100 percent of covered medical charges related to corrective measures. That includes everything from glasses to laser treatments.
However, some plans exclude certain procedures. For instance, some carriers might refuse to cover cosmetic enhancements such as eyelid lifts, Botox injections, or liposuction. Other plans might restrict reimbursement to just one procedure per visit.
What Are The Different Types Of Vision Policies Available Today?
There are four main categories of vision and dental plans available today:
• HMOs: A traditional form of managed healthcare where doctors work directly for the company providing the service. Doctors aren’t allowed to accept payments outside of the network.
• PPOs: Similar to an HMO except that doctors are free to take payment from anyone willing to pay.
• POS: Also known as “consumer-driven networks” because patients decide which providers they use based on price and quality.
• EPOs: Companies set aside money specifically for patient care instead of using general funds. Patients typically pay lower co-pays and deductibles compared to consumer-driven networks.
Which Type Is Best For Me?
It depends on your needs. Consumer-Driven Networks tend to be less expensive than either HMOs or PPOs. But they often lack access to specialists like ophthalmologists and optometrists. On the flip side, EPO plans generally carry high overhead costs so they’re best suited for people who need extensive treatment.
The Bottom Line
Whether you buy vision and dental insurance individually or through your job, make sure you understand all of the details before signing anything. It may seem complicated at first, but it will save you time and money later.
Healthbridge Insurance Solutions is dedicated to helping people understand their health insurance options. We have helped thousands of clients find the best plan for their needs. We’ve worked with many different types of companies and plans, including HMOs, PPOs, POS plans, and more. If you’re looking for a clear explanation of your health insurance options, Healthbridge Insurance Solutions can help. Call us today to speak with one of our experts about your health insurance options!