A Guide to Understanding Managed Vision Care Plans

 

What is Managed Vision Care Plans?

It is a system of providing you and your family members (the beneficiaries) with a prefunded health care benefit that is designed to meet your eye care needs. Also known as, “vision insurance,” it is commonly used to describe health and wellness plans designed to reduce your costs for routine preventive eye care (eye exams) and prescription eyewear (glasses and contact lenses).

 

Where Can You Get Vision Insurance?

Vision insurance often is a value-added benefit linked to indemnity health insurance, health maintenance organizations (HMOs), and preferred provider organizations (PPOs) that have contracted with managed vision care networks to provide eye care services

Indemnity Health Insurance: a traditional health insurance that allows policyholders access to medical providers of their choice.

Health Maintenance Organizations: a group of healthcare providers – doctors, laboratories, hospitals, and the like – employed to provide health care to plan members at discounted rates. Usually, plan members are required to access health care (including vision care), only from HMO providers.

Preferred Provider Organizations: a network of healthcare providers organized to provide healthcare services to health plan members at a fixed rate below retail prices. Plan members may opt to access out-of-network providers, but usually at a greater cost.

 

Benefits to Having Vision Insurance:

 

What Kinds of Vision Insurance Plans Are Available?

Vision insurance typically comes in the form of either a vision benefits package or a discount vision plan. Both kinds of vision insurance can be custom-designed to meet the requirements of a wide range of customers.

A vision benefits package provides free eye care services and eyewear within fixed dollar amounts in exchange for an annual premium or membership fee and a relatively small co-pay (fixed dollar amount) each time you access a service. A discount vision plan provides eye care and eyewear at discounted rates after you pay an annual premium or membership fee. Both may also include a deductible – a fixed dollar amount you must pay your eye care provider out-of-pocket before the insurance benefits take effect.

Vision plans generally cover or provide discounts on: annual eye examinations, eyeglass frames, eyeglass lenses (including coatings and enhancements), contact lenses, and discounted rates for LASIK and PRK.

 

What Does Vision Insurance Cost?

Varies on program and your state of residence.

VSP Rates.png

EyeMed Rates.png

 

What Benefits/Drawbacks Do Each Offer?

VSP:

 

EyeMed:

 

Davis Vision:

 

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** We are not health insurance consultants – please refer to your health insurance guidelines with any questions.

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