-- Does Insurance Cover This? --
From face lifts to lap band surgery, there are all kinds of elective surgeries. Lasik eye surgery can be very helpful to you in your work and at home. It′s still considered elective surgery. When it comes to elective surgery, the first question is always: will my insurance cover this?
The simple answer to this question is "no." There are plenty of financing options available for you. Your insurance is usually not one of them. Insurance companies consider lasik eye surgery a luxury and something that isn't really needed. So, they won′t pay.
However, this answer is not complete. Some large companies actually do have insurance policies that cover lasik eye surgery. Some companies have policies that cover only part of the costs of surgery, while other policies cover the entire procedure from preoperative visits to postoperative procedures.
There are two main types of coverage you can get from your company. One is the Indemnity Plan, whereby the insurance company pays most or all of the cost of lasik eye surgery.
In this case, you will have good coverage for your lasik eye surgery in most cases. However, the health of your eyes and the probability of success can have a bearing on whether your surgery will be covered.
The second type is the Discounted Fee for Service Plan. With this, the surgeon must give you a discount of up to 50% on the surgery. The surgery, though, may not be as comprehensive as they normally are. This is because the surgeon has to do the operation for a lower fee and so must cut costs.
There are programs in some companies that allow you to put pretax dollars into an account for medical services. These are called cafeteria plans or flex plans. They allow you to put back the money for the operation a little at a time out of your paycheck. Then, when you are ready, you can draw it out to pay for the surgery.
Even if your insurance won't cover lasik eye surgery for you, you may have a tax deduction at the end of the year. This surgery may be tax deductible as a medical expense. Ask your accountant to be sure.
In short, you need to know what your insurance covers and what it does not. Don′t be surprised if you find yourself looking for other financing. Financing is available that is neither hard to get nor a burden on you financially.