5 Ways to Make Premium LASIK Affordable
By: Abby Kiesner, Marketing / CRM Associate
If you wear glasses or contacts, there’s a good chance you’ve thought about finding a way to get rid of them for good. Many users are quick to assume laser corrective procedures are just simply unrealistic and completely unaffordable. The financial reality of spending money on glasses and contacts in a lifetime far outweighs the cost of a one-time laser vision correction procedure like LASIK.
Most glasses users will spend at least $15,000 on glasses in their lifetime. Most contact lens users will spend at least $35,000 on glasses and contacts in their lifetime. The average cost of LASIK in 2019 is $4,200 for both eyes. LASIK is a way to save money. Even if you spend $4,200 on your laser vision correction procedure, you still come out financially ahead in the end. It’s time to start investing in yourself and your vision now, in order to save more later.
Calculate your annual cost for contacts and glasses below.
Not only is it financially astute to invest in your vision health now, instead of having to pay more later, but there are also additional ways for you to save on laser vision correction.
Check out these 5 ways you can save on Premium LASIK:
1. Look for Discounts/Special Offers
Often times, practices will offer discounts to active military as well as military veterans and those that serve the community. Our member, Dr. Manus Kraff, offers 25% off laser vision correction procedures to all military personnel-active and inactive, firefighters, EMTs, police officers and teachers in the Chicago area. Be on the lookout for additional military specials around patriotic holidays as well.
The Holiday Season, the time of giving, where discounts tend to be the highest. Among the holidays, Christmas time tends to be the most popular time to see discounts surface. So if you’re looking to give yourself or a loved one the perfect holiday gift, Christmas time is your go-to. One of our Members, Utah Eye Centers, has a “Share the Warmth” promotion where you can receive $1,100 off LASIK in exchange for bringing in Winter jackets and heavy duty Winter gear (adding up to at least a $30 value).
Back to School Discounts
As the weather begins to cool down and students prepare for their first day of the new school year, the discounts on LASIK only get hotter. In exchange for new school supplies, you can receive an exclusive discount on laser vision correction.
Practices may offer substantial discounts to those who donate backpacks/school supplies around the time students start heading back to school (Mid-August - September). Utah Eye Centers has a “Backpack Bonanza” where patients can bring in backpacks and school supplies (adding up to at least a $30 value) in exchange for $1,100 off LASIK. Teachers also receive discounts on LASIK during this time as well.
2. Check Out Financing Options Available
Knowing your options before you walk through the door for your first appointment can help bring financial security before you make the decision to move forward with a procedure.
Many practices offer financing options that allow you 5 years to pay off your fees with low monthly payments and no penalty for early pay-off, and best of all, 0% interest. Check with your doctor for other available financing options.
Finance companies will often offer loans for LASIK. It’s important to make sure that your doctor will work with your financing company before you apply for the loan. Many practices have a list of those who are approved with their practice.
Financing options will soon be available through Vision Care Connect.
3. Attend a Seminar
When you attend a Vision Care Connect seminar, you are guaranteed to earn additional savings as well as a complimentary vision evaluation. You can win up to 50% off laser vision correction just by attending! Some practices even offer a greater discount for the amount of friends and family you bring to the seminar.
Not only will you gain more knowledge and information about the procedures, but you will also walk out of the seminar with a discount & information about the financial options available for you.
4. Non-Profit Sight Foundations
Some practices have non-profit sight foundations where patients undergo advanced sight restoration surgeries completely free-of-charge for more severe cases for those in need. Our Member, Wang Vision Institute, gives back to the community through their Wang Foundation for Sight Restoration. The Foundation is a registered 501c(3) non-profit charitable organization that provides financial support to help patients undergo sight restoration surgeries, for foundation patients. It provides free medical care for those who need it most, yet are the least able to pay for it.
5. Use FSA or HSA
Did you know that you can use your Flexible Spending Account (FSA) or Health Savings Account (HSA) to help pay for an elective vision procedure like LASIK? FSA and HSA contributions are pre-tax funds that can be used to cover the costs of medical expenses.
What is an FSA Account?
A Flexible Spending Account (FSA) is a part of your employee benefits package that lets you use pre-taxed dollars from your paycheck to put towards health care expenses for you, your spouse, and your dependents.
It reduces income taxes
Helps you save thousands of dollars each year
Increases your spendable income
Decreases your taxable income
What is an HSA Account?
A Health Savings Account (HSA) is a medical savings account that is used to cover the costs of medical expenses free from federal taxes. People with a high deductible health plan (HDPD) can use their Health Savings Account (HSA) to pay for elective medical procedures like LASIK. Medical fees that aren’t reimbursed by your HDPD, you can use the money from your HSA account to help cover the costs. The IRS sets a limit on the amount you can contribute to your HSA each year.
Funds added to your account roll over from year to year, meaning you can grow your account to use later in life
You can claim tax deductions for contributions made to your account
Earnings on the account are tax-free
Employer contributions are excluded from your gross income
Schedule a FREE vision consultation with one of our specialized surgeons in your area.