Is Vision Insurance Worth Buying? Explore its Benefits & Covers
Seeing how fast food and modern lifestyle changes have replaced healthy food and increased screen time by replacing playgrounds, it makes sense why vision coverage is needed.
However, very little population knows about the existence of vision insurance. Other than health insurance, eye health insurance, aka vision insurance.
Seeing how common vision issues have become these days, getting eyewear insurance has become a valuable investment.
Eyecare insurance is designed to cover your preventive and routine eye care.
Read the blog till the end to understand in detail about eyecare insurance plans in India.
Understanding Vision Insurance
It is a specific type of insurance plan that covers routine eye health expenses such as contact lenses, contact lens fittings, eye exams, and sometimes eye surgeries too.
The vision insurance plan might also cover the cost of eye care-related items, up to a preset limit. However, in some policies, it is required for the policyholder to pay a percentage fee to share the expenses with the insurer.
Nonetheless, please note that any type of eye disease is generally covered by health insurance and not eyecare insurance because it’s unpredictable and expensive to treat.
How Vision Insurance Works?
So, if you have a eyewear insurance plan, you can ask your vision insurer to check for the premium for individual plans and have the premium deducted.
In exchange for it, you’ll receive benefits like discounted vision exams and discounts on buying glasses and contacts.
However, some vision care plans may require you to be treated by an ophthalmologist.
What Does Eyecare Insurance Cover?
Vision plans typically cover a range of services, with the exact details varying depending on the specific plan you choose. Here’s a breakdown of some common benefits:
Routine Eye Exams
These are the basics of any eye care. Regular eye exams should be considered important for maintaining healthy vision, detecting potential problems early on, and monitoring existing conditions. It usually covers the cost of these exams, either partially or fully.
Corrective Lenses
Glasses and contact lenses are essential for many people to see clearly. Vision plans often offer coverage for lenses, with an allowance or discount applied to the total cost.
Frames
Some plans may give a set amount or a discount towards the purchase of new frames for your glasses, even though frames are only sometimes covered. Its called eye wear insurance.
Contact Lens Fittings
Fitting for contact lenses can be a complex process. The initial fitting cost can be partially offset by vision insurance, which also guarantees appropriate lens selection.
Discounts
Some vision plans offer discounts on additional services, such as LASIK surgery or other vision correction procedures.
Again, it’s important to note that eyecare insurance isn’t a substitute for traditional health insurance. It specifically excludes treatment for eye diseases or injuries. If you experience an eye infection, require surgery to address a detached retina, or have any other medical eye condition, eyecare insurance won’t cover these
Why You Should Consider Getting Vision Insurance?
There are several appealing reasons to consider enrolling in a eyecare insurance plan:
Cost Savings
Regular eye exams and corrective lenses are expensive. Eyecare Insurance helps manage these costs by offering coverage for exams, lenses, and sometimes even frames.
Preventive Care
Regular eye checks are necessary for maintaining good eye health. It encourages preventive care by making these exams more affordable. Early detection of eye problems can lead to better treatment outcomes and potentially prevent vision loss.
Convenience
Many vision plans offer access to a network of in-network providers. This can make it easier and more convenient to find an eye doctor who participates in your plan, potentially leading to streamlined billing processes.
Choosing the Right Vision Plan: What to Look For?
With various eyecare insurance options available, it’s essential to choose the plan that best suits your needs. So here are some points that you should look for while buying an eye care plan:
- Coverage: Review the specific details of each plan to understand what services are covered and the extent of that coverage (percentage or allowance).
- Networks: Some plans offer greater flexibility by allowing you to visit any eye doctor, while others restrict you to an in-network provider network. In-network providers typically offer lower costs, so weigh the convenience against potential cost savings.
- Premiums: Eyewear insurance plans come with varying monthly premiums. Consider your budget and how often you anticipate needing eye care or eye wear services.
- Allowances and Deductibles: Understand the annual allowances and deductibles associated with each plan. Allowances dictate the total amount the insurance company contributes towards covered services, while deductibles are the initial out-of-pocket costs you incur before the insurance kicks in.
- Vision Needs: If you wear glasses or contacts regularly, prioritize plans that offer generous coverage for lenses and exams.
To conclude, it is a good idea to compare several vision insurance plans available in the market, before purchasing one.
Moreover, people depend on their eyes to do almost everything, so having vision insurance is a way to protect your eye health.
To decide, whether you need eyecare insurance or not, first think of your vision needs and how often they need to be addressed, along with the cost.
If you have decided to purchase eyewear insurance, visit PolcyWings first before making the purchase.
We are an IRDAI-licensed insurance brokerage service provider, where you can evaluate and comprehend every vision insurance plan that is offered in India.
Our team will assist you by de-jargonizing all types of insurance plans.
We are here to solve all your insurance-related problems and complexities.
FAQs
The best vision insurance for seniors should include plans that offer comprehensive coverage, affordable premiums, and extensive provider networks. Consider specific needs, coverage options, and costs before choosing vision insurance.
Most vision insurance plans cover prescription sunglasses but not regular sunglasses. Depending on the plan, coverage often includes reimbursements for frames and lenses that can only be applied to prescription sunglasses.
A vision plan or typically covers:
- Eye exams
- Prescription eyeglasses
- Contact lenses
- Discounts on corrective surgeries like LASIK.
- Coverage may also include prescription sunglasses and lens enhancements like anti-glare coatings.
High-index lenses are sometimes covered by vision insurance but often require an additional cost. However, the coverage varies by plan, so make sure to check for specific benefits and potential out-of-pocket expenses before buying eyewear insurance.
Yes, health insurance and vision insurance are not the same thing. Unlike health insurance, which typically does not cover routine vision care, vision insurance covers eye care services like exams, glasses, and contact lenses.
