Vision Insurance

A vision insurance plan differs from regular health insurance because it is a wellness benefit to help defray the costs of eye exams, eyewear, and other vision services. Potentially high costs of regular eye examinations and prescription eyewear can be quite worrying, especially to large families. Vision insurance can only help with that or at the very least help you to understand the benefits package your company already offers you.

Always remember that vision insurance is only supplemental insurance though. Regular health insurance will help protect you from financial losses due to unexpected diseases or injuries. Vision insurance is just to provide routine, preventive eye care. There are several places you can obtain eye insurance from.

Group vision insurance can be offered through your company, association, school district, or through a government program like Medicare and Medicaid. You also might purchase your own individual vision insurance. You may consider getting vision insurance via indemnity health insurance, which allows policyholders to access medical providers of their own choice, an HMO, a group of healthcare providers employed to give health care to health plan members at discounts so long as health plans members get health care only from HMO providers, and PPO, a network of healthcare providers that provide healthcare services to health plan members at a fixed rate below retail prices where members may go outside the network, but at a greater cost.

When purchasing any kind of vision insurance you should receive the following benefits: access to a network of providers, including optometrists, ophthalmologists, eyewear stores, optical labs, and LASIK/PRK surgeons, and also access to routine preventive eye care services at reduced rates.

Vision insurance normally comes via a vision benefits package or a discount vision plan. A vision benefits package offers enrollees eye care services for a yearly premium or membership fee, an annual deductible for each member, and a co-payment for each service. On the other hand, a discount vision plan offers eye care at a fixed discount after a yearly premium or membership fee and deductible are paid.

Generally though, vision insurance covers: annual eye examinations (including dilation), eyeglass frames, eyeglass lenses, contact lenses, and LASIK/PRK correction at a discount.

Reputable vision insurance companies should have a quality assurance mechanism. Vision insurance costs differ according to the program. However, typically with a vision benefits package, the monthly premium will run up to $12. The deductible won’t be more than $35, and there should be a co-pay of $10 or $15 for each network service. And, of course, expenses for out of network services that go beyond plan allowances.

Vision discount plans aren’t very different. Their monthly premium also runs up to $12 and their deductible won’t be more than $35. There’s also a fixed discount price for each service received from a network provider and there are, again, expenses for out of network services beyond plan allowances.

You can pay for group vision insurance through payroll deductions or flexible spending accounts. If you have purchased individual vision insurance you can expect a monthly or annual bill.