Group Vision Insurance

Whether it is contact lenses, glasses or just regular check-ups, vision coverage is often one of the most appreciated benefits you can provide to your employees. This is because prescription eyewear and eye exams can be a significant expense for those who must pay for it all out of pocket. Although standard health insurance only protects an enrollee against financial loss if he or she is diagnosed with an eye disease or is injured, group vision coverage can go a step further.

What Does Business Vision Insurance Usually Cover?

In general, group vision insurance policies help pay for routine eye exams and other procedures. Also, they provide discounts on the cost of devices such as glasses and contact lenses that help people to make optimal use of their eyesight. Finally, certain policies will help to cover the costs of corrective surgeries such as LASIK and PRK. Vision coverage usually includes access to a provider network that contains ophthalmologists, optometrists, stores where glasses and frames can be purchased, laboratories and corrective vision surgeons as well as discounts on routine eye care.

Where Can I Get Group Vision Coverage for my Business?

Most of the well-known major insurance companies provide a variety of vision plans, both for small and large businesses. Often, vision insurance is available as a value-added benefit that is connected with health maintenance organizations (HMO’s), indemnity health insurance, and preferred provider organizations (PPO’s) that have established contracts with managed vision care networks. Indemnity coverage is traditional insurance that enables individuals to choose which vision care providers they see. HMO’s are groups of providers that offer vision exams and eyewear at a discount. In most cases, people who subscribe to vision HMO’s are required to receive services within the network. PPO coverage enables enrollees to obtain vision services at a discounted fixed rate that is below retail prices. Although plan members can visit vision care providers that are out of network, the costs would be much higher.

Types Of Group Vision Coverage

There are two different types of coverage that you can provide to your employees: vision benefits and discount vision plans. A vision benefits package requires that an annual premium, as well as a small co-pay, be provided. In exchange, enrollees get free eye care services and contact lenses or glasses up to a fixed dollar amount. A deductible may or may not be charged, depending on the plan. A second kind of coverage called a discount vision plan furnishes discounted eye care and glasses or contact lenses after an annual premium has been paid.

The Cost Of Vision Insurance for Businesses

As with most other types of coverage, several factors come into play when determining costs. These include the particular benefits you would like to provide to your employees as well as the state where you live. Because dollar amounts can fluctuate wildly, it is definitely in your best interest to survey some insurers to see who can give you a plan that provides the maximum amount of features for your money. Furthermore, be sure you feel comfortable with your provider and make sure they will advocate on your behalf if disputes ever arise with specific vision vendors.