Is Lasik Covered By Insurance In Canada?

Laser eye surgery is getting more popular, and this procedure helps you to live a normal life without depending on glasses. But is LASIK covered by insurance in Canada? What is the best way to finance your LASIK treatment? These questions are always coming up; we will carefully proffer answers to them in this article.

Is Lasik Covered By Insurance In Canada

LASIK (Laser-Assisted in Situ Keratomileusis) eye surgery is typically not covered by provincial health care plans in Canada. In Canada, the provinces primarily provide healthcare, covering essential medical services such as doctor visits, hospital stays, and medically necessary surgeries. However, elective procedures like LASIK, considered for vision correction rather than medical necessity, are usually not covered.

LASIK is an elective vision correction method and, thus, not covered by insurance in Canada. Individuals interested in getting LASIK in Canada must pay for the procedure out of pocket or explore private insurance options. Some private insurance plans may offer partial coverage for LASIK, but this varies widely depending on the insurer and the specific policy.

What Is The Price Range Of LASIK In Canada?

The cost of laser eye surgery procedures in Canada can vary significantly depending on various factors, including the type of procedure, the technology used, the surgeon’s experience, the clinic’s location, and any additional pre- or post-operative care included in the package. However, the average cost for LASIK surgery typically ranges from $2,000 to $3,500 per eye.

Also, SMILE (Small Incision Lenticule Extraction), a newer, minimally invasive laser eye surgery, is slightly higher than LASIK and costs between $3,000 to $4,500 per eye.

Custom or Wavefront-guided LASIK/PRK, personalized procedures tailored to your eye and result in more accurate outcomes, is higher than the normal LASIK and cost $3,500 to $5,000 per eye.

Is LASIK Covered By An FSA or HSA?

Even though LASIK is an elective surgery that is not considered medically necessary, it is still covered by FSA or HAS because it is regarded as a qualified medical expense, as stated in the IRS Publication 502.

Note that FSA or HAS cannot lower your medical bills but will eliminate the taxes you owe on the money you use to finance your surgery.

Typically, you can save up to 38% off your Lasik using a HAS or FSA. However, the savings depend on your procedure’s cost and the tax rate.

How Much Can You Save On Lasik With An FSA?

The amount of money you can save on LASIK with a Flexible Spending Account (FSA) will depend on your financial situation and specific contribution to your FSA.

For instance, if you have contributed a maximum amount of $2,850 into an FSA account and your annual income is $35,000 with a tax rate of 20%. This means you would save $570 in taxes on those funds, which you can use for Lasik. However, if your income was $100,000 and your tax rate of 34%, you would save about $969 in savings.

Is Lasik Covered By Vision Insurance?

LASIK eye surgery is typically considered an elective and cosmetic procedure for vision correction rather than medically necessary. As a result, most standard vision insurance plans do not provide coverage for LASIK surgery.

Vision insurance plans usually focus on routine eye care services, such as eye exams, prescription glasses, contact lenses, and treatment for common eye conditions like conjunctivitis or glaucoma. These plans are not designed to cover surgical procedures like LASIK.

However, some vision insurance plans or vision discount programs may offer discounts or special pricing arrangements for LASIK through affiliated eye care providers. These discounts help reduce the overall cost of the procedure but may not cover the full expense.

How Can I Finance My Laser Eye Surgery?

Financing options for laser eye surgery can vary depending on the country and your specific clinic. Here are general ways you can finance your laser eye surgery in Canada.

Health Savings Account (HSA) or Flexible Spending Account (FSA):

If you have an HSA or FSA through your employer, you can use the funds in these accounts to cover the cost of laser eye surgery. To confirm if this is optional, check with your benefits administrator.

Payment Plans through the Clinic:

Many laser eye surgery clinics offer their own financing or payment plans. They may allow you to pay for the procedure in installments. Inquire about their financing options and applicable interest rates or fees with the clinic.

Health or Medical Credit Cards:

Some clinics accept health or medical credit cards specifically designed for medical expenses. These credit cards may offer promotional periods with low or no interest rates if you pay off the balance within a certain time frame. Read the terms and conditions carefully to avoid high-interest rates after the promotional period ends.

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You can consider applying for a personal loan from a bank or a credit union. Personal loans generally have fixed monthly payments and may offer more flexibility in repayment terms.

Third-Party Financing Companies:

Some companies specialize in providing financing options for medical procedures, including laser eye surgery. These companies may offer competitive interest rates and customizable repayment plans.

Is Lasik Covered By Health Insurance

Health insurance plans do not cover Lasik eye surgery because Lasik is considered an elective and cosmetic procedure for vision correction rather than medically necessary.

Health insurance plans in Canada primarily cover essential medical services, such as doctor visits, hospital stays, surgeries for medical conditions, and treatments for injuries or illnesses. Elective procedures, including Lasik, are generally not included in these coverage benefits.

Reviewing your insurance policy or speaking directly with your insurance provider to know if your health insurance covers Lasik is crucial.

Benefits And Risks Of Laser Eye Surgery

Laser eye surgery, such as LASIK and PRK, is a popular procedure for vision correction. While it has provided significant benefits to many individuals, knowing the potential risks associated with the surgery is essential. Here are some of the benefits and risks of laser eye surgery:

Benefits of Laser Eye Surgery:

Improved Vision:

The primary goal of laser eye surgery is to correct refractive errors, such as nearsightedness (myopia), farsightedness (hyperopia), and astigmatism, leading to improved vision without needing contact lenses or glasses for many patients.

Quick Recovery:

In most cases, the recovery time for laser eye surgery is relatively quick. Many patients experience improved vision within a few days after the procedure.

Long-Lasting Results:

For the majority of patients, the results of laser eye surgery are permanent. However, age-related changes in vision or other eye conditions can still affect vision in the long term.

Reduced Dependence on Glasses/Contacts:

After successful laser eye surgery, many patients experience reduced dependence on glasses or contact lenses, which can enhance their daily activities and lifestyle.

Pain-Free Procedure:

Laser eye surgery is typically performed using local anaesthetic eye drops, making the procedure pain-free for most patients.

Increased Self-Confidence:

Correcting vision problems through laser eye surgery can increase self-esteem and confidence for individuals previously reliant on corrective eyewear.

Risks and Complications of Laser Eye Surgery

Dry Eyes:

Dry eyes are among the most common complications of laser eye surgery is temporary dryness and discomfort in the eyes. For some patients, this may persist for several weeks or even months.

Overcorrection or Undercorrection:

While laser eye surgery aims to achieve precise vision correction, there is a possibility of overcorrection or under-correction, which may require additional enhancements or adjustments.

Halos, Glare, and Double Vision:

Some patients may experience visual disturbances, such as halos, glare, or double vision, especially during nighttime or in certain lighting conditions.

Visual Regression:

In some cases, vision changes may occur over time, necessitating the use of glasses or contact lenses again, particularly as patients age or if other eye conditions develop.

Flap Complications (for LASIK):

LASIK involves creating a corneal flap, and there can be rare complications related to the flap, such as flap dislocation or epithelial ingrowth.

Infection and other Rare Complications:

As with any surgical procedure, there is usually slight risk of infection or other rare complications, such as corneal scarring or vision loss. However, the risk of severe complications is extremely low.

Not Suitable for Everyone:

Laser eye surgery may not suit individuals with certain eye conditions, unstable vision, or medical conditions.

Will LASIK Eye Surgery Last Forever?

LASIK eye surgery aims to improve vision for most patients permanently. In many cases, the results of LASIK can be long-lasting and even permanent. However, it’s essential to understand that the eyes can change over time due to various factors. While LASIK can address refractive errors, it cannot prevent age-related vision changes or the development of other eye conditions.

How Long Does It Take To Recover From LASIK Surgery Fully?

The recovery time for LASIK (surgery can vary from person to person, but most patients experience significant improvement in their vision within the first 24 to 48 hours after the procedure. However, it’s essential to understand that the full recovery process may take several weeks to a few months before your vision stabilizes and you achieve optimal results.

Can I Do LASIK Twice?

Yes, it is possible to have LASIK (surgery more than once, and it’s known as a “LASIK enhancement” or “LASIK touch-up.” LASIK enhancements are performed when the initial LASIK surgery did not fully achieve the desired visual outcome or if there have been changes in the patient’s vision over time.

People Also Ask:

Why is Lasik not covered by insurance?

Lasik eye surgery is an elective or voluntary procedure that is not seen as medically necessary most times, and as such many standard insurance does not offer coverage for it. Even though Lasik effectively correct astigmatism, nearsightedness, or farsightedness, it is often not considered medically necessary. However, some vision and health insurance companies offer discounts on Lasik with an average savings of $400 to $1,100 per eye.

How Much Does Lasik Cost With Insurance?

There is no specific amount as Insurance discounts and the cost of Lasik vary. The cost of Lasik can be as low as $695 per eye using Cigna health insurance, or you can pay more than $2,000 per eye with Aetna vision insurance.

What Insurance Is Best For Lasik?

Although most insurance does not offer coverage for Lasik, the Cigna health insurance plan provides the best discount programs for Lasik. Also, the Davis Vision Insurance and UnitedHealthcare vision insurance plans are good. With these plans, you can pay less than $1,000 per eye for your Lasik surgery.

Is Lasik Worth It?

To determine whether Lasik is worth it or not. You can break the cost for ten years and compare that with traditional glasses and lens costs for that same period. For instance, an average Lasik surgery ranges from $4,000 to $5,000. You can spend $4,500 on eyeglasses and contacts for ten years, assuming you spend $300 annually on contacts and $150 annually on eyeglasses.

If you have an insurance program covering half the expenses, the Lasik surgery can be worth it.

Conclusion

Lasik is a voluntary and elective medical procedure not medically necessary or covered by provincial and private insurance plans. However, you can get a vision and health insurance plan offering partial coverage, up to half the surgery cost.