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Vision Insurance Plans

Guest post by: John Clark

Article Overview: Vision Insurance Overview Most individuals obtain vision insurance as a supplement to their current health insurance. Vision insurance covers routine eye exams, cataracts screenings and glaucoma screenings. Discounts for eyeglasses, contact lenses and LASIK procedures may also be offered through vision insurance supplements. LASIK is a refractive surgery designed to improve eyesight for individuals who no longer desire to wear glasses. Most catastrophic eye injuries would be covered by standard health insurance.

Vision Insurance Plans

Vision Insurance Overview

Most individuals obtain vision insurance as a supplement to their current health insurance. Vision insurance covers routine eye exams, cataracts screenings and glaucoma screenings. Discounts for eyeglasses, contact lenses and LASIK procedures may also be offered through vision insurance supplements. LASIK is a refractive surgery designed to improve eyesight for individuals who no longer desire to wear glasses. Most catastrophic eye injuries would be covered by standard health insurance. Vision Insurance Supplement Options

Vision insurance may be a supplement to a health maintenance organization (HMO), preferred provider organization (PPO), indemnity health insurance, Medicare or Medicaid. Most individuals obtain health insurance through their companies, schools or other private association that provides health care insurance.

Most of the plans listed require a co-payment with each visit. The patient may also pay a deductible before insurance pays medical expenses.

HMO Vision Plans

Individuals enrolled in a HMO vision plan should be allowed to visit any physician, hospital or use any laboratory on the list of HMO providers. However, the patient is limited to receiving care only from those preferred providers.

PPO Vision Plans

PPO enrollees have the option of visiting an ophthalmologist within the network or outside of the network. Physicians outside of the network typically cost more than physicians in the network.

Indemnity Vision Plans

Patients with indemnity vision plans may receive care from any optometrist they select.

Costs of Vision

The costs of vision insurance supplements depend upon the type of plan selected, the program's design, employer contribution and the state of residence. Individuals insured through their employer may pay as little as $50 per person annually through any of the aforementioned plans. Some employers will contribute a portion to the insurance to keep the employee's expenses low. The amount is typically between 25% and 50% of the annual premium cost. Many vision insurance plans will require patients pay the costs of the visit when the services are rendered and later be reimbursed for the expenses.

Individuals who are self employed may seek vision insurance through an insurance company. A vision care insurance provider offered New York residents the following rates in 2009:

• Routine eye exams require a $15 co-pay.

• The first pair of eyeglass lenses are paid in full after the $25 co-payment.

• Insurance will cover expenses for eyeglass frames up to $120. After that amount is exhausted, then a 20% discount will be given for additional expenses.

• Discounts for as much as 25% will be given for extra pairs of glasses and lenses.

• Annual membership for singles is $178.95 and for families is $436.95 annually.

Flexible Spending Accounts or Health Savings Accounts

Some individuals desire to save money in a tax-free savings account to cover their out-of-pocket medical expenses. This money may be used only for medical expenses. Individuals save money because medical expenses are paid with tax-free money. Some employers will match the employee contribution. There are Internal Revenue Service restrictions that apply. Each year, maximum amounts for the savings account change. Contributors should inquire with the IRS to receive accurate maximum amounts.

In 2009, the maximum contributions were $3,000 for a single person and $5,950 for a family. Most of the flexible spending accounts or Health Savings Accounts (HSAs) require that the individual have a high deductible insurance policy. The minimum deductible should be at least $1,150 for a single person or $2,300 for a family. With high deductible insurance, the monthly premiums will be lower. However, the deductible must be met before receiving full insurance benefits.

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Article Tags: health insurance, insurance, insurance supplements, vision insurance
Referred by: http://www.franchisefix.com/



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