It’s estimated that more than 8% of adults in the U.S. do not receive necessary medical care due to cost, according to the CDC.
Given the seriousness of medical conditions common in Americans, such as diabetes and hypertension, it’s important for everyone to take steps to prevent, diagnose, and treat health problems that can impact our quality of life. Your vision is no different—it is a precious and important part of your body’s overall health.
Medical eye conditions such as age-related macular degeneration, cataracts, glaucoma, or other retinal problems can cause vision impairment and, in some cases, irreversible vision loss. Modern medicine and innovative eye procedures have evolved today into sight-saving treatments…often covered in part by your health insurance.
So, are all medically-necessary eye procedures covered by insurance?
The answer actually depends on a variety of factors, including your specific health insurance provider and plan coverage.
Health insurance can be complicated. That’s why our team works closely with our patients’ insurance providers to understand each person’s unique benefits and coverage. Our front-office staff works diligently to help remove the barrier of cost so that our patients can receive the quality care they need…and deserve. (Check out our other post about how health insurance can help cover costs of vision care here).
But, what if I don’t have health insurance or my plan doesn’t cover everything?
If you’re in need of services or eye procedures that are not fully covered by insurance, many healthcare providers offer financing options to patients who qualify.
You may also be able to utilize funds from a tax-advantaged account called a flexible spending account (FSA) or health savings account (HSA). These are special accounts that you can put money into (pre-tax) and then use that money to pay for eligible out-of-pocket health-related expenses. Eye care, including vision correction, is considered an FSA-eligible expense. As always, if you have an FSA or HSA, check with your plan administrator to ensure eligibility prior to incurring the expenses.
One thing to know about these special accounts: generally, the funds you contribute to your FSA or HSA must be used within the plan year. There may be exceptions to this based on your plan, but it is typical for any used money left in your account to be taken away. “Use it, or lose it” … many FSA and HSA plans are valid from January 1 – December 31. So, the end of the year is a great time to use any remaining balance towards eligible expenses, including vision correction and eye procedures. Learn more about these special, tax-advantaged accounts here.