Ameritas offers two tiers of its plans that families can afford, starting at $23.47 per month. All tiers offer free eye exams every 12 months (full offer), but lower tiers only offer contactors or eyeglass lenses and frames every 24 months, a $25 deductible eye exam, and a $130 frame or contactor allowance. Higher tiers offer a lower eye exam copay of $10 and a $150 allowance every 12 months for frames or contact lenses.
What is vision insurance?
Vision insurance is a supplemental health insurance plan that can help you reduce costs associated with vision care. These plans will cover some products and services such as eyeglasses and eye exams – other benefits may vary between insurers.
These types of plans—whether you’re buying an individual plan or as an optional rider on regular health insurance—are best for those who have recurring vision expenses, such as regular contact lens purchases or those who need yearly eye exams. There may be co-pays or deductibles—the deductible is the fixed amount you pay out of pocket before the insurance company covers the remaining balance, and the deductible is the amount you need to pay each year before vision insurance kicks in.
For example, if you have a $10 copay for an eye exam, that’s all you’ll pay for a visit to the eye doctor, then your insurance will pay for the rest. And if you have a $300 deductible, you’ll need to apply that amount to all eligible expenses within a calendar year before insurance can cover any expenses covered by your Vision Plan.
Even those planning to have LASIK or similar types of eye surgery may find vision insurance useful. This is because you may be able to save a lot of money compared to paying outright for your vision. LASIK is not covered by regular health insurance, so if you use an in-network doctor, vision insurance may offer discounts on services.
What does vision insurance usually include?
Vision insurance plans include benefits that can help you detect eye disease or serious vision problems early and make maintaining good vision affordable. This includes costs related to contacts, glasses and annual eye exams. Additionally, many plans offer discounts for LASIK surgery—which isn’t necessarily covered by health insurance because it’s not considered medically necessary.
Access to in-network physicians may require pre-authorization prior to the exam, while out-of-network physicians may require payment first, assuming your provider is willing to reimburse.
What does vision insurance usually exclude?
Vision insurance plans do not cover treatment for eye diseases – which are usually covered in regular health insurance plans. In other words, health insurance usually covers eye care related to medical conditions. If you have complications such as diabetes, diabetes, high blood pressure, or cataracts, your health insurance may cover eye care, and if your medical insurance doesn’t, vision insurance may cover eye exams.
What is the expected cost of Vision Insurance?
Monthly premiums for the companies above are relatively cheap, with the average premium for the lowest tier plan being around $10. All plans include an annual eye exam and allowance for eyeglasses or contact lenses, although the exact amount and copays allowed vary between insurers.
You can expect to pay more for higher levels of coverage (some as high as around $30 per month). Companies with higher plans typically offer larger subsidies for eyeglasses and contact lenses, lower copays, and more discounts on other products and services, such as LASIK surgery.
Is it worth paying for vision insurance?
Maintaining healthy vision is vital to your overall health. For example, during routine eye exams, doctors may be able to spot serious health problems such as high cholesterol, diabetes, autoimmune diseases, high blood pressure, and certain cancers. Early diagnosis can mean lower overall health care costs.
Even something as simple as a vision impairment can affect your daily life – think mobility, normal communication and even your independence. For children, undiagnosed vision impairment can hinder their long-term health, academic and social achievement.
Also, paying for vision may be worth it from a cost-saving standpoint. If your vision care needs exceed the cost of insurance, it may be a good idea to consider getting some form of coverage.
For example, your vision insurance premium costs $124 per year. A basic eye exam costs about $100, but you only pay a $10 copay. You find yourself needing new glasses, and glasses with standard lenses will cost you $200. You only pay $150 and you pay $50. That means you’ll only pay $184 for the year (including copays and excess allowances) instead of the $300 you’d need to pay without insurance, saving you $116.
How We Selected Vision Insurance Company
We looked at 11 vision insurers and found that these companies pay less for eye exams, competitive discounts on contact lenses and eyeglasses, and LASIK discounts. We then narrowed it down to the companies offering the best prices and a larger network of retail and private physicians. We’ve also eliminated companies that don’t allow members to use their benefits annually (for example, some companies only allow you to use your frame allowance every 24 months).
