How to Pay for LASIK Surgery

LASIK eye surgery is a popular procedure because it may free people from the daily need to wear glasses or contact lenses. While it can be life-changing, it can also be expensive. LASIK surgery can cost thousands of dollars per eye. Since it is usually considered elective surgery, most insurance plans won’t cover it.

The good news? There are a number of ways you might be able to make LASIK more affordable. First, ask your doctor if you are a good candidate for the procedure. There can be risks. If you decide the procedure is right for you, then explore your financial options.

Does insurance cover LASIK?

Most insurance plans don’t cover LASIK, but you may qualify for a discount through in-network providers or negotiated rates.

LASIK is typically an elective surgery, meaning the procedure is not considered medically necessary. You’ll want to talk to your insurance provider to get information about your coverage details. Then, see if your doctor’s insurance coordinator has experience helping patients reduce costs.

Some insurance companies, for example, may negotiate with providers for discounted costs for procedures such as LASIK. You may need to use a preferred, in-network provider to qualify for those rates.

Before selecting a payment method, ask about negotiated rates, provider discounts, or vision-plan discounts.

Can I use my health spending account for LASIK?

Yes, LASIK is often an eligible expense for a Flexible Spending Account (FSA) or Health Savings Account (HSA). An FSA or HSA is not a financing product but can lower your overall cost for the procedure since they are primarily funded by using pre-tax dollars. If your company sponsors a Health Reimbursement Arrangement (HRA), it may also cover the procedure.

Check with your plan administrator to confirm if LASIK is an eligible expense. Some programs have additional requirements, and the procedure may need to be performed by a specific type of provider.

Does Medicare pay for LASIK surgery?

Medicare Parts A and B don’t cover LASIK, but some Medicare Advantage (Part C) plans may offer discounts or partial coverage.

As with all insurance programs, it depends on your coverage level. Some Medicare Advantage plans may offer extra benefits, including vision care. You will need to contact your plan provider to see if LASIK is included.

Should I ask my doctor about LASIK financing options?

Yes. It’s a good idea to ask your doctor’s office about available LASIK financing options and repayment terms. They may be able to help you find a financing plan and/or maximize your insurance options.

If you do choose to go this way there are a few things you should ask your doctor:

What is the APR (Annual Percentage Rate)?
Are there promotional offers available?
What is the down payment amount?
What are the repayment terms?
Are there any other fees?
What happens if the balance is not paid off during a promotional period?

The answers to these questions may be able to help you compare the potential costs and help you decide what works for you.

You’ll need to budget wisely to ensure timely payments, but a financing plan could be a good option. Be thoughtful about whether you want to write a check, pay directly from a bank account, or put it on a credit card. Each option has its own benefits and drawbacks.

Pros and cons of payment plan vs paying upfront

Payment Option	Pros	Cons
LASIK Payment Plan	Full cash amount isn’t needed upfront and lower monthly payments make it more accessible. You also won’t deplete your savings.	Interest may apply on some plans and deferred interest plans can result in significant charges if the balance is not paid off on time.
Paying Upfront	No interest or monthly payments after the procedure. Some providers even offer discounts for paying in full.	Requires a larger amount of cash up front and can deplete your savings.

Can I use a personal loan for LASIK surgery?

Yes, a personal loan may be used to pay for LASIK surgery. When compared to other financing options like a credit card or financing through your doctor's office, personal loans have predictable payments, fixed repayment terms, and may be easier to fit into your budget.

Some doctors also offer a discount if you pay partially or fully in cash. If you don’t have adequate savings, a personal loan could help you take advantage of that since you can get lump sum funding.

You may also use a personal loan to pay for the additional expenses if your insurance or health accounts don’t cover the full cost of LASIK.

With a Discover^® personal loan, you can choose a repayment term of 36, 48, 60, 72, or 84 months, so you can make payments over a time frame that best fits your needs. For example, if you get approved for a $15,000 loan at 11.99% APR for a term of 72 months, you’ll pay just $293 per month.

Comparing LASIK financing and payment options

To find an approach that fits your budget and financial goals, it's important to compare your options.

Savings

Paying with savings avoids interest charges and debt, which can make it one of the least expensive options. However, using cash could reduce your emergency fund or other financial reserves.

Insurance discounts

Although most insurance plans don't cover LASIK, some vision plans and providers offer discounted rates. This can lower your overall cost, but availability varies by provider and plan.

FSA or HSA funds

These allow you to pay with pre-tax dollars, which may reduce the effective cost of the procedure. The downside is that you're limited to the funds available in the account.

Doctor financing

Some LASIK providers offer payment plans or promotional financing. This could help you save money, but be sure to review repayment terms carefully, since interest or fees may apply if the balance isn't paid off as agreed.

Healthcare credit cards

Medical credit cards may offer special financing for healthcare expenses. However, some promotions include deferred interest, which can increase costs if the balance remains unpaid after the promotional period.

Traditional credit cards

These offer flexibility and may provide rewards or introductory APR offers. If you carry a balance, though, interest charges can significantly increase the overall cost of LASIK.

LASIK payment options may vary by your provider, insurance plan, credit profile, and budget. If you think a personal loan might be right for you and are interested in seeing what your monthly payments would be, check out the Discover personal loan calculator. You can estimate your monthly payment based on the amount you want to borrow and a repayment term that you choose.

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The information provided herein is for informational purposes only and is not intended to be construed as professional advice. Nothing contained in this article shall give rise to, or be construed to give rise to, any obligation or liability whatsoever on the part of Discover, a division of Capital One, N.A., or its affiliates.