For many people, LASIK isn't just a luxury, but it's a necessity. Many individuals are bound to eyeglasses and contacts and they don't have an option to not to wear corrective vision.
There are approximately 12 million people over the age of 40 in the United States with a vision impairment, and roughly 6.8% of children under 18 in the USA have a vision condition.
A procedure like LASIK is a big deal, but it comes with the price. As with any type of major surgery, the cost is relatively expensive. Therefore, many individuals are unable to get it because of the price tag.
However, LASIK financing is available for those who require financial assistance. If you're trying to figure out how to pay for LASIK surgery, this article is for you. Keep reading to find out more.
LASIK Financing Options
Most vision insurance providers don't cover LASIK surgery. The procedure isn't considered a necessity, and many insurance companies feel that glasses and contacts are tolerable forms of vision correction.
Without insurance assistance, many people are forced to pay out of pocket, and LASIK surgery cost ranges from $1,000-$3,000 per eye.
The good news is, there are eye care loans and other resources available. Here are the most common options:
Financing Through a LASIK Surgeon
Many LASIK service providers are partnered with credit lenders that can assist with financing. You can always ask the surgeon's office if they have options for loans for LASIK surgery.
It's common for providers that perform procedures that aren't typically covered by insurance to offer an alternative financing option.
A Loan
Whether or not your surgeon's office provides a lender or not, getting a loan is a good alternative option. Using resources like Pay My Medical can help you find a creditor to assist you.
Getting a loan helps because you don't have to tap into other resources like your savings to fund the procedure. Plus, if you aren't financially capable of paying for LASIK, it provides the funds you need.
As long as you have stable income and earn at least $1,000 after taxes, you're eligible for a loan.
Health Savings Account
In addition to your loan, you can also use other resources to help you pay for your LASIK surgery. If you have a Health Savings Account (HSA) or a Flexible Spending Account (FSA), this is a great way to finance your procedure.
An HSA is a savings account that you can put funds into that help you pay for health care expenses. For example, if you have a high deductible, a Health Savings Account can assist with paying for it.
It works by putting money to the side monthly or bi-monthly for unexpected medical expenses.
Furthermore, an FSA is an account that can be established to help pay for out-of-pocket medical expenses, like LASIK surgery. The money in a flexible spending account is not taxed, and some employers help to contribute towards the account as well.
So even if your insurance won't cover a LASIK procedure, the funds within an HSA or FSA is available.
Plus, accounts like this can be rolled over to the following year, which helps to accumulate the funds needed for the procedure. Again, if your accounts don't have enough to pay for your LASIK surgery, you can combine it with a loan.
A Credit Card
A credit card is another good option for paying for LASIK surgery. However, if your card has a high interest rate or you don't want to max it out, combining it with another form of payment is ideal.
Byu sing a credit card, you can pay the money back over time, and you can do the same with eye care loans.
Personal Savings Account
If you have the personal funds to pay for your LASIK procedure, then by all means, use it. However, it's understandable if you don't want to drain your savings account.
In that situation you can take the funds that you have and pair it with a loan to help pay for the surgery.
Let's say, if you have the money to pay for one eye and not the other, splitting the cost with different funding sources is a good option.
Once you research and find the surgeon that you want to go to, get the details on the cost. That way, you can start saving for the surgery if you don't have the money at the moment.
Ways to Get Discounted LASIK Services
Even if you have LASIK financing, it doesn't hurt to try to get a reduction on the cost. Here are some tips for potential discounts:
Tax Deductions: Your LASIK surgery might be tax-deductible. In certain cases, the procedure has tax benefits. If you think it does for you, ask your tax preparer.
Pay In Full: If you pay for the surgery in full and upfront, your surgeon's office may provide discounts for that.
Insurance Discounts: Even if your insurance provider doesn't offer coverage for LASIK surgery, ask what type of assistance they provide. Some vision insurers may be willing to provide a reduced rate or apply a discount towards your surgery.
Financing LASIK Eye Surgery: A Reliable Loan Option
If you're looking for LASIK financing, Pay My Medical can help. We provide assistance with finding loans for medical services so you can get the procedures you need.
Our automated application will connect you with a lender that's willing to provide financing for your surgery. Upon approval, funds will be sent and you can get your hearing aids as soon as possible.
If you have questions about our services contact us online.
We look forward to helping you get the care you need.