Financing Lasik: What are Your Options

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Financing Lasik

You’ve finally decided you’re going to get rid of your glasses or contacts and have Lasik surgery. You looked into the costs, finished the task of choosing your eye surgeon, and now you just have to figure out how you’re going to pay for this treatment.

Since most insurance policies don’t cover refractive surgery, your financing Lasik options are generally those that you can arrange yourself. Ask your human resources department if they offer any eye surgery benefits. Some major corporations offer additional coverage that pays part of Lasik costs. Some employers make arrangements with a Lasik clinic for special employee pricing.

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Credit and Loans

Several financing Lasik options are available. Two are specifically designed to help pay medical expenses. You should be able to apply for this financing online, but check with your surgeon’s finance manager. They may have applications at the office. They may even complete the application for you.

CareCredit®, one of the better-known health care financiers for eye surgery offers short-term interest-free Lasik financing. Their longer-term plans carry a low interest rate. Your surgeon must work with CareCredit for your costs to be eligible, so be sure to ask if your surgeon offers CareCredit®.

CapitalOne® Healthcare Finance is another source of financing. Their low interest rates start at 1.99%.

Some eye surgery clinics offer their own financing. You may be asked for a down payment. If not, the finance manager may arrange a payment plan for you. They may or may not charge interest. They may offer you interest-free payments for 90-days or other short term, and charge interest for longer-term financing. Be sure to ask what they can do to help you finance your surgery.

Your surgeon may have worked out financing arrangements with a local bank. Though you will still have to apply for the loan, it may be easier to qualify for his financing arrangements than if you applied for a personal loan without your surgeon’s affiliation.

Other than specific health care financing, you can choose to pay cash or with a credit card.

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Federal Flexible Spending Accounts

Flexible Spending Accounts (FSAs) are tax-free savings accounts allowed by the IRS for medical expenses. You fund these from pre-tax payroll deductions, and then draw the money to pay for your Lasik or other eye surgery. This money is not only tax-free, but interest free, as well.

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