What is an Eye Insurance Plan?

An eye insurance plan is not like regular health insurance. It is a wellness benefit that either provides a discounted rate for vision services such as eye exams, contacts and glasses or it helps offset the costs of these services. You can get vision insurance in one of two different types:

* Vision Benefits Package
* Vision Discount Plan

A vision benefits package is much like insurance coverage in that is covers vision services. Sometimes you may be required to pay a co-payment at the time of the service or purchase of your contacts or glasses. Your benefits package pays the balance.

A vision discount plan is different from a vision benefits package in that you pay for the full services, but it is at a lower, discounted rate that has been agreed upon by the network provider. Through a discount plan, you are given a list of network providers who have agreed to charge the discounted prices per the plan. Often, there are also specific eye care services that are included in the plan so review prospective plans to make sure that the one you choose meets your needs.

Benefits of a Vision Insurance Plan

Eye insurance plans can be very beneficial, particularly if you have vision problems. You can save money on vision services and even eye glasses and contacts. An eye insurance plan can offset the sometimes substantial costs of vision care. Eye glasses alone can cost more than $200, but with a vision plan you can cut that cost by 50% or more.

You can get individual plans or plans that cover the entire family. They can be particularly helpful in saving money if you cover your children as they can sometimes go through several pair of eye glasses in a year.

Choosing the Right Vision Plan

If you think that a vision insurance company could have some benefits to offer, it is important that you find the right plan for your needs. Carefully review the benefits that are offered, what is covered, how often you can get an eye exam and how many pair of eye glasses or contact lenses you can get within a year or a six month period.

You can conduct an online search for vision insurance plans or even find a site that allows you to compare different companies by their benefits. You also want to make sure that you vision plan falls within your budget. It does you no good and you won’t save much if you go broke paying for the plan.

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Where to get vision insurance

Group vision insurance can be obtained through your association, company, school district, or a government program such as Medicaid or Medicare. As an individual, you can purchase your own vision benefit plan from your health insurance company. Vision insurance is typically a value-added benefit linked to health insurance, preferred provider organizations (PPOs), and health maintenance organizations (HMOs). These organizations have contracts and are affiliated with managed vision care networks (i.e. hospitals and eye doctors) that provide the eye care services to insured clients.

Benefits of vision insurance

When you obtain value-added vision insurance, you will have access to a network of eye care providers including ophthalmologists and optometrists, optical laboratories, eyewear stores, and LASIK/PRK surgeons. You will also have access to routine eye check-ups and preventive eye care services at reduced rates. In general, vision insurance covers basic eye services including annual eye examinations, dilations, eyeglass frames, eyeglass lenses, contact lenses, and LASIK and PRK vision correction at discounted rates. The services that are acquired from network providers are obviously cheaper than services received from providers that are not part of the network. One of the best things about getting care within the network is that most health insurance companies implement standards and a quality assurance mechanism in choosing service providers. This way, you are assured that your eye doctor or eye surgery center is reputable and can be trusted.

Available vision insurance plans

Typically, when obtaining a vision insurance plan, you can choose from either a benefits package or a discount plan. In a benefits package, you usually pay an annual premium or a membership fee in exchange for eye care services. There will be yearly deductibles and co-pay each time you access a service. A discount plan, on the other hand, gives you access to eye care services at fixed discount rates after you pay a membership fee or annual premium and a deductible. Both types of plans can be customized according to your requirements whether as an individual or as a group.
Cost of vision insurance

Costs of vision insurance depend on the design of the program and the services available. Monthly membership fees range from less than a dollar to twelve dollars, deductibles from less than a dollar to thirty-five dollars, and co-pay of ten dollars to fifteen dollars for each network service.

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Vision insurance is often a supplemental aspect to a regular health or medical indemnity plan. A standard health policy is there to provide care and treatment for unexpected eye disease or injury. The vision insurance is to cover eye care expenses and the fees for routine eye examinations, including glaucoma and cataract screening, as well as corrective lenses or eyewear. A doctor or clinic that’s associated with the organization examines the patients.

Eye care insurance policies offer discounts on – annual eye check-ups, prescription lenses and frames, contact lenses, non-prescription sunglasses, eye drops and medication. And often at extra cost, discounted rates for LASIK or PRK vision correction treatment.

When viewing the availability of vision indemnity schemes its essential to compare the extent of coverage. Restrictions and limitations will vary with the specific plans and insurance providers. Some schemes cover the fees for an annual eye exam, but do not help with the cost of glasses or contact lenses. Savings in the region of 20% to 55% are often seen in these care plans.

In view of the number of adult US citizens that wear contact lenses or glasses, with latest studies indicating this figure at 63%, it shows the importance of having adequate vision insurance plans in force. Taking the steps to ensure preventive care of the eyes is essential to ensure the long term health of vision in later years.

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