If you have been thinking about LASIK, the cost is probably one of the questions on your list.
That, along with: Will insurance cover it? Can I use my FSA or HSA? And what if I do not want to pay for the whole thing at once?
Even though LASIK is not typically covered by traditional health insurance, that does not necessarily mean you have to pay the entire cost out of pocket. FSA and HSA funds may help, and LASIK financing can give you additional flexibility when planning for the procedure.
Will Insurance Pay for LASIK?
Most health insurance plans do not consider LASIK an elective procedure, which means it is generally not covered the same way a medically necessary surgery would be.
While insurance generally does not pay for LASIK, The Cataract Surgeons do offer financing resources for procedures such as LASIK.
Can You Use an FSA for LASIK?
In many cases, yes. A Flexible Spending Account, or FSA, lets you set aside pre-tax money for eligible healthcare expenses. LASIK and other qualifying laser vision correction procedures may be eligible expenses, which means those funds could help cover part or all of your procedure.
The biggest thing to watch with an FSA is timing.
Depending on your employer’s plan, you may have a deadline for using those funds. So if LASIK is something you are seriously considering, it can be smart to think ahead during open enrollment and plan your contribution accordingly.
What About an HSA?
An HSA can also be a helpful way to pay for LASIK.
Health Savings Account funds can generally be used for qualified medical expenses, including eligible vision correction procedures. Unlike an FSA, HSA funds generally remain in your account from year to year, giving you more flexibility to save toward a future procedure.
That means if you have been building up your HSA balance for a while, you may already have money available to put toward LASIK.
What If Your FSA or HSA Does Not Cover Everything?
You do not necessarily have to choose between using your healthcare savings account and paying the rest all at once.
LASIK financing can provide another way to break the expense into manageable payments. The Cataract Surgeons accepts CareCredit for eligible procedures, giving qualified patients another option for managing out-of-pocket costs.
Depending on your individual situation, you may be able to use FSA or HSA funds toward your LASIK expenses and explore financing for the remaining balance.
Want to See How the Cost Compares?
Sometimes the sticker price of LASIK does not tell the whole story. One thing people sometimes forget is that LASIK is not competing with “free.” Glasses, contact lenses, replacement frames, contact solution and ongoing vision expenses add up over the years.
The Cataract Surgeons offers an online Laser Vision Correction Affordability Calculator that can help you compare those ongoing expenses with the cost of laser vision correction. By entering information about your current vision expenses, you can get a better picture of how laser vision correction may fit into your long-term budget.
Ready to Explore Your Options?
Finances should be part of your LASIK decision, but they do not have to keep you from exploring what is possible. Between FSA or HSA funds, available LASIK financing and careful planning, there may be several ways to make the procedure more manageable.
If you are interested in LASIK, schedule a consultation with The Cataract Surgeons. Our team can help determine whether laser vision correction is right for your eyes and help you better understand the costs and payment options available to you.
