Is Vision Insurance Worth It?

The vision insurance industry is growing at the speed of light – approximately $36.9 billion businesses at a 5.6% yearly growth in 2019. Based on a survey by the Kaiser Family Foundation, vision coverage has increased to 87%. It was 53% back in 2010. The better the type of vision insurance you get, the more you will be encouraged to schedule your next eye doctor appointment. But, is it worth it? Let’s find out.

Vision insurance is a separate entity from regular insurance coverage. Based on your insurance provider, vision insurance covers general eye care such as annual exams, contact lenses, and eyeglasses as well as scratch-proof coating and other associated enhancements. Also, there are some providers that may cover vision exams and blue light protection to allocate risks for conditions such as diabetes, glaucoma, and hypertension.   

Where can I get vision insurance?

It’s important you review your job-sponsored plan and learn what’s covered. There are companies out there that will work closely with you to reduce the costs for preventive care, contact lenses, and eyeglasses as an important component to attract applicants.  Make sure you check if your Medicare or Medicaid covers vision as well.

If you have an Open Access Insurance Plan, you can take advantage of the dentists or clinics included in your network. If you go out of network to see an eye doctor, the coinsurance payment is higher. Also, insurers these days have more flexibility. For instance, they may cover in-network eye exams, prescriptions, and lower premium payments for their employees.

If you are self-employed or may not qualify for group insurance, you can purchase family and individual plans in your area.

How does vision insurance work?

A high percentage of Americans need to see an optometrist at least once a year whether to get new glasses or contact lenses. Vision insurance can be helpful since you can get large discounts and only pay a couple of hundred dollars. In other words, an eye doctor visit that may have cost you $100 may become $10 with vision coverage or new glasses that may cost $150 may end up costing $600 without coverage. In other words, vision insurance makes everything more affordable and less burdensome.

Some reasons to consider getting vision insurance

  • You need a routine check-up: If you have an annual routine, vision insurance is great to have. But what about when something bad happens to your eyes such as glaucoma, or corneal ulcers caused by contact lenses? Vision insurance is worth it.
  • You need annual exams: This is recommended if you reached your 50s and need your vision monitored. If your prescription changes more often than paying for new glasses or lenses, you will pay a lot without vision insurance.
  • Your family needs vision insurance: You can significantly reduce the vision expenses for your family when you purchase vision insurance.
  • Medicare doesn’t cover vision care services: Medicare A will cover cases linked to medical emergencies while Medicare B covers eye care, but it doesn’t cover eye exams, contacts, or eyeglasses. Medicare C may include routine exams and prescriptions. If your Medicare doesn’t cover eye services, you may need to purchase vision insurance.
  • Your earnings aren’t enough to cover vision care: Vision insurance helps you save since you have low premiums on a monthly basis rather than paying a significant amount at the time you request these services.
  • You have health conditions: If you are suffering from a condition such as high blood pressure or diabetes, a routine check-up is important.

Request your vision insurance quote from Insurance Line One today!

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