Does Insurance Cover LASIK? HSA, FSA and Financing Explained

Most medical insurance will not pay for refractive surgery. The FDA states that LASIK is usually not covered by insurance plans. Patients should check with their employer or insurance provider to confirm their own coverage, as exceptions may exist in rare cases.

The FDA also notes that some jobs may prohibit certain refractive procedures. Patients are advised to verify requirements with their employer or military service before scheduling surgery.

The IRS says that medical expenses can include amounts paid for eye surgery to treat defective vision, such as laser eye surgery. IRS Publication 502 specifically lists laser eye surgery among eligible expenses.

IRS Publication 969 states that qualified medical expenses for an HSA are those that would qualify for the medical and dental expenses deduction described in Publication 502. This means HSA and FSA funds can generally be used for LASIK.

• IRS Publication 502: Laser eye surgery is an eligible medical expense.
• IRS Publication 969: HSA covers expenses listed in Publication 502.
• Check with your plan administrator for required documentation.

71.5% of LASIK practices in The LASIK Index offer financing. This is the most widely available payment option after traditional payment methods. Financing can make surgery more accessible by spreading payments over time.

CareCredit is accepted by 42.4% of practices, and Alphaeon Credit by 14.3%. Both are third-party medical lenders. Patients may also find in-house payment plans at some practices.

• CareCredit: Used at 42.4% of practices.
• Alphaeon Credit: Used at 14.3% of practices.
• In-house plans: Some practices offer their own financing.

Patients should look for details on interest rates, the length of the repayment term, and whether the offer includes deferred interest. Deferred interest means that if the balance is not paid in full by the end of the promotional period, interest may be charged from the original purchase date.

It is important to read all terms and conditions before agreeing to a financing plan. Some plans may have penalties for missed payments or late fees. Comparing offers can help patients avoid unexpected costs.

• Interest rate (APR)
• Length of repayment term
• Deferred interest conditions
• Penalties for late or missed payments
• Total cost over the life of the loan

55.8% of practices in The LASIK Index offer a free consultation. This allows patients to learn about options and costs before committing to surgery.

16.6% of practices provide a lifetime enhancement plan. These plans may include future touch-up procedures, but terms vary by provider. Patients should ask what is included and for how long the plan applies.