Eyes Insurance: Who's Covered?

As of March 2020, approximately 130 million people in the US have some form of vision insurance or managed vision care coverage. This equates to around 50.3% of the adult population. Vision insurance is a specialised type of coverage that helps individuals manage the costs of eye care, including routine eye exams, prescription eyeglasses, and contact lenses. It can also provide discounts on procedures like LASIK eye surgery. The cost of vision insurance varies, but typically ranges from $5 to $35 per month for an individual.

As of March 2020, around 50% of US adults have vision insurance

Vision insurance is designed to help cover the costs of eye care, including routine eye exams, prescription glasses, and contact lenses. It is often provided as an optional add-on to major medical plans, which typically do not include vision care. Vision insurance usually comes with a deductible, copay, coinsurance, and premium, and some plans may require policyholders to use specific in-network eye doctors. Vision insurance providers may also offer allowances for certain eye care products, such as eyeglasses, with the policyholder paying the difference out of pocket if the cost exceeds the allowance.

The need for vision insurance is influenced by several factors, including age, eye health, and family history of eye diseases. It is particularly beneficial for those who require corrective lenses and regular eye exams. Vision insurance can help offset the costs of eye care, which can be significant. For example, the average eye exam costs around $152 without insurance, while eyeglasses typically start at $200. Vision insurance premiums, on the other hand, can be as low as $5 to $30 per person per month, depending on factors such as benefits included, location, and the number of people on the plan.

The availability and uptake of vision insurance vary across different demographic groups. Adults with higher incomes are significantly more likely to have MVC coverage than those with lower incomes. Regionally, MVC coverage is higher in the Northeast and lower in the South compared to the overall US distribution, while the Midwest and West fall in line with the national average.

Vision insurance covers eye exams, glasses, and contacts

As of March 2020, approximately 130 million people in the US have some form of vision insurance or managed vision care coverage. This equates to around 50.3% of the adult population.

Vision insurance covers the cost of an annual eye exam and prescription glasses and/or contact lenses. Some plans also offer discounts on elective vision correction surgery, such as LASIK and PRK.

Vision insurance can be obtained as a group benefit through an employer or association, or through a government program such as Medicare or Medicaid. Alternatively, individuals can purchase a vision care plan directly from a vision insurance provider.

Vision insurance typically comes in the form of either a vision benefits package or a discount vision plan. A benefits package usually provides free eye care services and eyewear for a fixed dollar amount in exchange for an annual premium or membership fee, and a small co-pay each time you access a service. A discount vision plan, on the other hand, provides eye care and eyewear at a discounted rate after an annual premium or membership fee has been paid.

Vision insurance is a valuable option for those who require regular eye care and prescription eyewear, as it can help to reduce the costs associated with these services.

Vision insurance is available individually or through employers

Vision insurance is a type of coverage that helps individuals manage their eye care expenses. It is available as an individual plan or through an employer.

Individual Vision Insurance

When purchased on your own, this type of coverage is referred to as individual vision insurance. This is a good option if your employer does not offer vision coverage, or if you are unemployed, self-employed, or employed but not eligible for health benefits. You can usually purchase individual vision insurance online at any time during the year, and it is more affordable than average dental and health insurance premiums.

Vision Insurance Through an Employer

Also known as employer-sponsored or group vision insurance, this type of coverage is often offered alongside health and dental insurance. Employer-based vision insurance is typically cheaper because your company pays for part of your coverage. Your costs are usually only a few dollars deducted from each paycheck, and you can select which types of coverage you want. However, you may only be able to sign up during certain time periods, such as an open enrollment period or after a qualifying life event like getting married or having a baby.

Vision insurance typically covers routine eye care, such as annual eye exams, as well as prescription eyewear like glasses and contact lenses. Some plans may also offer discounts on laser eye-correction surgery. However, it's important to review individual policies carefully, as coverage can vary. For example, some plans may only cover basic lenses or frames up to a certain amount.

Vision insurance can help you save money on eye care expenses, especially if you have a family and multiple people need glasses or contacts. However, whether or not it makes sense to purchase vision insurance depends on your individual situation. Consider how often you see an eye doctor and how frequently your prescriptions change. If you only need a check-up every few years, vision insurance may not be necessary.

Vision insurance costs $5 to $35 per month for an individual

Vision insurance is a supplemental health insurance plan that helps cover eye care expenses, such as routine eye exams, prescription eyeglasses, and contact lenses. It is one of the most affordable insurance types, with premiums ranging from $5 to $35 per month for an individual. This amount can vary depending on factors such as the chosen deductible, provider, age, and location.

The cost of an eye exam without insurance is about $75 to $200, but it can be even more expensive depending on the location, type of exam, and whether it is your first visit. For those without insurance, there are low-cost options available, such as Walmart Vision Center, which offers eye exams for $50 or free with the purchase of two pairs of eyeglasses.

As of March 2020, approximately 130 million people in the US, or 50.3% of the adult population, had some form of vision insurance or managed vision care (MVC) coverage. This percentage has remained stable over the last five years, but the total number has increased with the overall adult population growth.

Vision insurance is particularly beneficial for individuals who require corrective lenses or have a history of eye-related conditions. It can also assist older adults who need more frequent eye exams and those considering procedures like LASIK to restore their vision. Even individuals with perfect eyesight may find value in vision insurance, as it can help detect and treat eye conditions early on.

Vision discount plans, which are different from insurance plans, are also available. These plans help cover a percentage of exam and corrective eyewear costs and may be more suitable for those without frequent or costly eye care needs.

Vision insurance is worth it if you need regular eye care and corrective lenses

As of March 2020, approximately 130 million people in the US (50.3% of the adult population) had some form of vision insurance or managed vision care coverage. This figure has remained stable over the past five years, although the number of insured people has increased with the overall population growth.

Vision insurance is worth considering if you require regular eye care and corrective lenses. It can help cover the costs of routine eye exams, prescription glasses, and contact lenses. The cost of an eye exam without insurance is about $75 to $200, with an average of $152. Eyeglasses typically cost $200 or more, depending on the frames and lenses. Therefore, if you need corrective lenses and regular eye exams, vision insurance can result in significant savings.

Vision insurance is especially beneficial if you require specialty lenses or frequent eye care. For example, if you need bifocals, trifocals, or lenses with special prescriptions, insurance can help offset the higher costs. Additionally, some plans offer discounts on corrective surgeries, such as LASIK.

When deciding whether to get vision insurance, it is essential to consider your specific needs and compare them to the costs of coverage. Evaluate how often you require eye exams and the expenses of your corrective lenses. If your eye care costs are higher than the insurance premiums, signing up for a vision insurance plan can be a financially prudent decision.

Vision insurance typically has a deductible, copay, coinsurance, and premium. Some plans may restrict you to specific in-network eye doctors. Insurance providers may offer an allowance for eye care products, such as eyeglasses, but you may need to pay the difference out of pocket if the cost exceeds the allowance.

Vision discount plans are also available, which are not insurance but offer discounted rates on eye care services and products. These plans usually cover a percentage of the costs for eye exams and corrective eyewear. Discount plans may be a more cost-effective option if you don't have frequent or expensive eye care needs.

Frequently asked questions