So, how does vision insurance work, and who needs it the most?
Healthcare and employee benefits can be complex, making the enrollment process challenging for employees. As part of that enrollment process, employers frequently provide supplementary benefits such as vision insurance. Compared to health coverage, only some people need all supplementary benefits. So, how does vision insurance work, and who needs it the most?
Understanding How Vision Insurance Operate
Vision insurance is a benefit many employers provide to supplement their employees’ health coverage. This typically only covers vision problems or eye injuries provoked by a significant medical condition. Also, vision insurance covers some of the costs of glasses, eye examinations, or eye contacts in exchange for a premium (a monthly payment).
Employees might pay their premiums directly to the insurance provider or have them deducted from their paychecks and paid for by their employers on their behalf. In addition, vision coverage premiums are usually much lower than health insurance premiums. For instance, some vision plans have waiting periods before coverage starts, while some have a one-time enrollment fee on top of monthly premiums.
Moreover, vision insurance generally covers people in two methods:
- Paying most costs up to a fixed amount OR
- Providing discounts as a percentage of the full price of vision services or items
Who Requires Vision Insurance?
Unlike health insurance, not everyone requires vision insurance. In general, vision coverage would benefit individuals and family members who already require vision care, like eye exams, glasses, or contacts. However, eye examinations can still detect hidden health problems in children and adults with great vision. According to the American Academy of Ophthalmology, adults 65+ should perform an eye exam yearly or two.
But the periodic eye examination might only benefit some employees through vision insurance premiums. Even then, the savings from vision insurance can be significant to individuals and family members who already require vision care. Again, it’s critical to understand the policy under consideration since vision plans differ so much.
Get informed and educated and receive up-to-date information regarding vision insurance with the MWE Partnership! Contact us today at 410-394-9617!
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