Vision Service Plan (VSP) option for LASIK
Vision Service Plan (VSP) has been around since 1955. This company helps people to cover the costs of eye exams, glasses, and eye surgeries. The company now offers some coverage for LASIK and other vision correction procedures, which can help to offset the total LASIK cost.
What’s nice about VSP is that there are no referrals or claim forms. All you have to do is see if you are eligible for VSP benefits online. Then you confirm that your laser vision doctor is part of the VSP network. Make an appointment to ensure that you’re a good candidate for LASIK, and then you’ll be on your way to better vision.
Alphaeon Finance
Alphaeon is a credit card that is exclusively available for ophthalmology, dermatology, dentistry, and plastic surgery services. The card offers various monthly payment options so that you can improve your vision with LASIK without leaving yourself strapped for cash.
Alphaeon offers special financing options for any purchase over $250, with credit lines up to $25,000. The card can be reused for other ophthalmology services or any other medical-based procedure that you may require in the future.
With Alphaeon, you can enjoy no interest if the total is paid within 6 or 12 months, for all purchases over $250. The company also offers an Equal Pay 14.99% APR for larger purchases paid off within 24, 36, 48, or 60 months.
CareCredit Finance
CareCredit is another financing option for those who don’t have the funds to pay LASIK costs outright. Though CareCredit is a credit card, it’s different from a traditional credit card. The card is used to pay for out-of-pocket expenses that aren’t covered by medical insurance. CareCredit healthcare credit card also offers special financing options that you don’t get with most other cards.
There are more than 225,000 enrolled providers in the CareCredit network. Once you apply and are approved for the card, you can use it at any location that accepts CareCredit.
Choose between various short-term financing options, including 6, 12, 18 months, and pay no interest if the full amount is paid by the end of the promotional period. CareCredit also offers long-term financing for 24, 36, 48, and 60 months with APRs ranging from 14.9% to 16.9%.
FSA & HSA
For the 2021 tax year, the IRS announced higher contribution limits for both the Flexible Spending Account (FSA) and Health Savings Accounts (HSA). This means that you can use an FSA or HSA to cover all or some of the LASIK cost for surgery. Not only are these health accounts a popular financing option, but they’re also a great long-term investment tool.
An FSA is an account that allows you to set aside pre-tax dollars each time you get paid in order to cover the cost of eligible out-of-pocket expenses. You control how much money you want to contribute each paycheck, and contributions are spread out throughout the year.
The benefit of having an FSA is that you can access the full amount of your annual contribution election, even if you haven’t made all of the deductions for the year. This means that you can access funds before you contribute them to cover LASIK prices!
An HSA is another tax-advantage account that allows you to put aside pre-tax dollars with payroll deductions. These funds can then be used to pay for out-of-pocket healthcare costs. An HSA account is very similar to an FSA account. The main difference is that you can only use money that’s available, and there is no “use it or lose it” requirement. Unsure if laser eye surgery is right for you? Take our Vision Correction Self Evaluation.
