Vision Insurance–Insure Your Eyes

March 11, 2009 by  
Filed under Vision Insurance

High examination costs for regular eye check-ups can definitely be a real cause of concern for large families. Thus, many households have wisely defrayed these expenses by taking vision insurance. It should be stressed though that vision insurance does not substitute for regular health insurance.

While regular health insurance insures you against financial losses in the eventuality of an unexpected eye disease or injury, vision insurance is a wellness benefit that offers regular eye care, exams, and other preventive services at a lower cost. This is why vision insurance is usually an added feature to a health indemnity insurance where health maintenance organizations and providers tie up with vision care networks in providing eye care services. Vision insurance can be taken for a group (company or association) or for an individual.

Thus, if you belong to the 50% of U.S. citizens who regularly access eye care services, you should consider plans that also offer vision benefits. These plans can be obtained through your employer or directly from vision insurance companies. For employers and company owners who are constantly looking for affordable ways to draw and keep quality employees, an employee benefit package that includes vision coverage is a good way to do so.

Having vision insurance entitles a person to have an easy access to a network of eye care providers, namely: ophthalmologists, optometrists, eyewear stores, surgeons, and optical laboratories. Aside from these benefits, it also offers access to a reduced rate of routine eye care services.

Vision insurance plans comes in different types, the typical ones are vision benefits package and discount vision plan. A vision benefits package offers eye care services in return for yearly premium or fees, an annual deductible amount for every enrolled member, and co-payment for every time a member uses a service with the balance payable by his plan. On the other hand, a discount vision plan merely requires a yearly premium or membership fee in order to avail of year-round rates of discounted eye care services. With this kind of plan, the eye care services rendered are fully paid for, but at a relatively lower price than what’s normal and is dependent on the rates agreed by eye care practitioners.

School districts, companies, and unions can avail of these vision insurance plans which can also be custom-designed for a variety of customers. Usually, network providers offer cheaper rates compared to out-of-network providers. Therefore, in choosing which vision insurance plan to avail of, make an evaluation of the service provider and the services offered.

The cost of vision insurance varies depending on the program design. Typically though, employees acquire group vision insurance where their contributions are easily deducted from their payrolls. There are also the so-called flexible spending accounts which allow the use of pre-taxed dollars in purchasing vision insurance, among other health benefits. This scheme helps you save more money since your income is not reduced by tax for health costs.

Getting vision insurance may not be on top of your list especially if you aren’t really at risk to losing it, however, it is a good forethought to get one lest you get into an accident and damage the windows to your soul.