Laser eye surgery (LASIK) can cost up to thousands of dollars per eye. As such, anyone with interest in LASIK should consider the financial impact.
There are other factors to consider as well. The potential risks and side effects and whether you are a good candidate for LASIK surgery or not. From both a personal and financial standpoint, the choice to have this procedure should be considered carefully.
Leverage Assistance through Insurance
LASIK is almost always considered an elective surgery, meaning the procedure is not considered medically necessary. However, some insurance companies may negotiate with providers for discounted costs for procedures such as LASIK. Consult with your insurance company to determine if you qualify for a discount.
If your insurance will help with the cost through discounts, take these steps:
- Talk to your insurance company about preferred providers and available discounts
- Meet with a LASIK surgeon to better understand the total cost and payment options
Use a Health Spending Account
Do you have a health spending account, such as an FSA, HRA, or HSA? These tax-free accounts are a great way to save money for future health expenses.
LASIK may be an eligible expense for these kinds of accounts, making this one possibility to pay for the procedure.
Note: check with your vision provider in regards to eligibility before moving forward with the surgery. This is also a good time to check if the surgeon will charge discounted fees negotiated by your insurance company.
Consider Alternatives to Surgery
Go through every option with your eye doctor. Look for what costs your insurance may cover, such as glasses or contact lenses, and consider whether either or both would be an acceptable alternative. You could also discuss other procedures for correcting your vision that are less invasive than LASIK.
Be Ready to Cover Remaining Costs
You should be prepared to cover some of the costs of LASIK surgery. Some people pay with cash, whereas others consider the benefits of a personal loan. Personal loans are an option for a variety of uncovered medical procedures.
Once you’re familiar with the surgery, the benefits, risks and the cost, you can then make a decision as to how to best move forward. Should you need extra funds to help with your choice, consider how a personal could help you.