What is Vision Insurance? We can assure you that vision insurance is paramount for you and your family, even if you have heard it or not. With financial pressures affecting so many families, unexpected expenses are hitting harder than ever. It usually covers routine eye exams, contact lenses and their fitting, eyeglass lenses and frames, and more of a discount plan. Some of the plans also offer discounts on surgeries like LASIK and PRK.
Below, we will provide information about why it is so important and how it can benefit you and your family.
The Basics It is a way to reduce those unexpected bills by paying a monthly premium to an insurance company. Similar to home insurance, you will pay a fixed rate; however, this will be a rolling contract rather than annual renewals under most circumstances. Prior to your visit, get familiar with the optical benefits offered by your policy. Most of the time the payment is done in advance and then the extra cost will be covered
If you find yourself in need of an eye exam or spectacles, you will be happy that you have vision insurance to help with the costs. Regular eye exams are not very expensive, and for those who attend their checkups and find that they do not need glasses, their expense can feel unnecessary.
So, why vision insurance? Insurance companies offer family plans which are affordable and effective even if only one person in the household needs specs. If you need new glasses, you will be given an allowance amount depending on your policy agreement.
The graph below shows the annual expenditure on vision care insurance per customer unit in the United States from 2017-2021.
The Benefits You will not have any unexpected large expenses for your eye care or your family members if you choose to add them to your insurance also. If you find at your eye exam that you need glasses, either for the first time or a replacement due to a change in strength, it can be unsettling to know that they will need to be paid for. If you are someone who has a family history of eye-related medical problems, it is worth every penny to purchase it. Usually, an eye exam costs around $150, excluding the cost of frames and lenses.
Each insurance company will have its own process for ordering your new specs, whether that is you paying the initial costs and then claiming the refund through the company or your company offering spectacles that you can order directly. It is vital that you check how you will claim the amount you are entitled to.
The insurance premium does not increase when you make a claim; you will have an annual allowance which you can claim from for your eye exam and specs. However, unlike home or car protection, each claim will not increase the monthly premium payment that you make. You can make a claim every twelve months; the amount you can claim is usually on a rolling twelve-month period. Meaning, you can make a new claim for your full allowance twelve months exactly from when you made your last claim.
sound investment for the ones who face frequent troubles or are fond of purchasing various kinds of lenses.
So next time, you don’t have to worry about your broken pair of glasses. However, it is significant to look into the things that are not covered under it. They do not normally cover accidents that damage your eyes. It also covers frames and lenses up to a certain limit. They also have a waiting period, which usually is 30 days to 36 months. In between them, you would not receive any benefits.
All in all, when you purchase Vision Insurance, be thorough with the costs and benefits linked with the plan you are considering. If you wear or think you may need glasses, then it could benefit you quickly and easily. The icing on the cake is that most of the companies that offer premium plans are not that expensive. Having vision insurance will truly be a great investment in the long run.
