So, Is Vision Insurance worth paying for? The answer is: it depends! Whether a vision plan is worth it or not depends on what types of services and products you need. There are so many variations of eye care and eye wear that a person can use, and the cost is different for each of them. Let's go through a few examples to further explore the value of vision insurance.
First, the typical glasses patient. This patient has a mild prescription and no other eye health issues. They may need glasses either for reading or just for the distance, so they would need a single vision lens. They need three items at the optometry office: an exam, a frame, and a pair of lenses. An eye exam costs about $110, depending on where you have your exam performed. A median frame cost at a privately owned optical is around $180, and single vision lenses with a standard anti-glare coating(don't ever get glasses without an anti-glare coating!) costs about $160. The total cost for their visit would be $450.With the VSP Base Plan that is available in North Carolina to individuals and families, the exam copay is $15. For that same pair of glasses as priced above, a VSP patient would pay $90. For the same bill, a VSP patient would pay $105. The annual premium for this plan totals to $234, so the VSP patient's total cost is $339. They saved $111 for the year. $111 is not a huge amount, but every penny counts, so I would say that the plan is worth it. Add to that the convenience of making monthly premium payments instead of having to come up with $450 all at once, and I would say a vision plan is definitely worth it to this patient.
Second, we will review the established contact lens wearing patient. A patient that wears single vision, spherical(doesn't need toric contact lenses) contact lenses needs three items at the optometry office: an exam, a contact lens evaluation(evaluation, not fit, because this patient has worn contacts before, has been seen by the same optometrist in the past and was fitted for contact lenses), and an annual supply of contact lenses. Again, the exam will cost about $110, a contact lens evaluation for spherical lenses costs around $80, and an annual supply of monthly disposable contact lenses costs about $200 depending on the brand. The total bill is $390.
Again, with the VSP Base Plan in NC, the exam copay is $15. The contact lens evaluation can be handled in one of two ways: one, the patient receives a 15% discount on the evaluation and pays $68 out of pocket, or, the patient receives a 15% discount on the evaluation and they use part of their contact lens allowance to pay for the evaluation. The outcome is the same, the patient will pay out $118 on their evaluation and annual supply of monthly disposable contact lenses. So their total for their trip to the eye doctor comes to $133. Their annual premium is $234, and their total out of pocket for the year is $367. They only saved $23. Almost a negligible savings amount, but again, there is the convenience of not having to come up with $390 all at once. Also, contact lens wearers should ALWAYS have a back up pair of glasses, so it stands to reason they will use their VSP policy to help with the cost of glasses at some point, and they will save more that benefit period. Was the vision plan worth it? Well you can look at it this way, $23 buys almost a tank of gas in my Ford Focus right now, so its nothing to sneeze at.
Lastly, we will look at a patient that needs progressive lenses for their glasses. Patients that are struggling both in the distance and up close need progressive lenses because they are customized to multiple distances. There are many reasons progressives are superior to bifocals, but I won't get into that right now. Once again, the progressive wearer needs three things:an exam, a frame, and progressive lenses with an anti-glare coating. The exam is $110, the frame is $180, and the progressive lenses(using Essilor's Physio Enhanced design, with a standard anti-glare coating) will be around $420. Their total costs will be about $710. For those of you that haven't ever seen the price on progressive lenses- yeah, I know! With the VSP Base Plan in NC, the exam is $15 and the cost on the glasses will be approximately $231. This VSP patient's total cost for their trip to the eye doctor is $246. Their annual premium and visit total to $480, which is a difference of $230 over the course of the year. VSP was definitely worth it to this patient!
There are many, many more variances on patient needs and how a vision plan will work for them. If you would like a specific example, please contact me, and I will be happy to evaluate your specific circumstance. Over all, for most people a vision plan is worth it simply because its stretches out the cost of eye care over the course of twelve months. Whether it will save you hundreds of dollars or not is dependent on your needs and wants. Is Vision Insurance worth it for you? Call me, and I will help you figure it out, or go to www.keepyoureyescovered.com .
