Is LASIK Eye Surgery Covered by Insurance?October 18, 2017 -
Many who are considering LASIK eye surgery often ask one common question: Is LASIK covered by insurance? The short answer is that LASIK is an elective surgery and not typically covered by insurance plans, but there are options available to help cover the cost of LASIK laser eye surgery. Financing options are available for LASIK patients based in the US and Canada. Ahead, we’ll review some of the most popular options for covering the cost of LASIK surgery.
Options for Financing Your Laser Eye Surgery
Insurance Savings and Partial Coverage through Insurance
While LASIK insurance coverage is rare, it’s important to note that some insurance plans and employers do provide partial coverage for LASIK surgery. TLC Laser Eye Centers work with many major vision insurance providers to offer LASIK savings, and the savings apply on the day of the procedure so that you don’t have to wait for reimbursement. The TLC team will work with you to make sure you’re getting the most savings possible.
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LASIK Financing in the US and Canada
TLC Laser Eye Centers offer financing options for laser eye surgery patients based in the United States and Canada. In the US, we work with CareCredit, a credit card created specifically for healthcare needs which offers special financing options. In Canada, TLC partners with Dejardins, allowing you to apply at your TLC Laser Eye Center and get a financing decision in minutes. If you have specific questions about the financing options available, you can learn more at your local TLC Laser Eye Center.
Health Savings Accounts
A Health Savings Account (HSA)is a tax-exempt trust or custodial account, where you can save funds to cover qualifying medical procedures. Enrolling in an HSA requires you to meet requirements set forth by the IRS, and having a high-deductible health plan (HDHP) is a key step in qualifying.
If you’re interested in using an HSA to save for medical needs, it really helps to do your research and plan ahead.
Flexible Spending Accounts
A Flexible Spending Account (FSA)requires sponsorship from your employer, and allows the account holder to pay for certain medical expenses on a pre-tax basis. FSAs can be used to cover eligible elective procedures including laser eye surgery, along with a number of other common medical needs.
Just as with an HSA, using an FSA to cover medical needs may be easier with good planning. You can use TLC’s free FSA savings calculatorfor an easy way to explore how it all works.
If you have any questions about LASIK insurance coverage, financing, or payment options, the TLC team is here to help you learn more. Schedule your free LASIK consultation at your local TLC Laser Eye Center to learn more about financing for laser eye surgery, discuss the benefits of LASIK, and find the options that work for you.