LASIK is a fantastic procedure that changes lives by offering visual freedom. But the surgery is not considered to be a medical necessity, but rather elective.
In most cases, LASIK will not be covered at all. This can make it difficult to afford the surgery for many. Though it can be hard to afford, LASIK makes your life and quality of life better.
What happens to those that want LASIK and don’t have insurance that covers it? The good news is there are other ways to pay for LASIK! Keep reading for some ideas to make LASIK more affordable!
Payment Plan
If paying for the full procedure in full seems insurmountable, you may be able to sign up for a payment plan. Payment plans for LASIK are a great way to divide the upfront cost into more manageable chunks.
Most payment plans will give you up to two years to pay off your procedure. While this may not reduce the cost of LASIK, it will assist in budgeting the cost into your life.
Come into Colorado Eye Consultants to discuss our payment plan options. We’ll help you find a plan that works best for you.
FSAs & HSAs
If it is available to you, a flexible spending account or a health savings account can help reduce the cost of LASIK.
A flexible spending account works by allowing you to set aside money over the course of the year. This is money that you can then use on certain medical costs that insurance won’t cover.
The money is not taxed before it’s put into the account. When this money gets taken out for approved costs, taxes will still not apply.
This allows you to effectively save a percentage of money equal to your tax rate, whatever that may be. Be advised, though, that flexible spending accounts come with restrictions.
You should talk to your employer about these. Most flexible spending accounts are capped at a certain amount per year. That means that they may not cover the full cost of LASIK (although the partial savings will still be worth it).
Often, money left unused at the end of the year in the FSA may be subjected to forfeiture. Plan your LASIK procedure very carefully to ensure you do not lose the money in your account.
A health savings account works similarly, although it is less risky. Unused money in health savings accounts roll over every year, so you will not be at risk to lose any money.
But it may be more difficult to get an HSA so talk to your employer to see if it’s something offered by them.
Tax Refund Season
Now is the perfect time financially to look into getting LASIK, as tax day is right around the corner. Wondering what to do with your tax refund? Why not get LASIK with the money you get back this year?
If your refund doesn’t cover the full amount, it may at the very least cover most of the procedure. Instead of paying thousands out of pocket for LASIK, you may only need to pay a few hundred dollars, if that!
Vision correction is the procedure that keeps on giving because you save money over time. Think of what you spend on glasses and contacts every year.
Now imagine you didn’t have to pay for those costs anymore. Instead, you could keep that money. What would you do with an average of $500 extra every year?
Looking for vision correction and visual freedom? Schedule a LASIK consultation at Colorado Eye Consultants in Littleton, CO!
