Table of Contents
Key Takeaways:
- Traditional vision insurance plans come with hidden costs, and many Oklahomans end up paying hundreds at the optometrist, even though they have coverage.
- Many are switching to prepaid vision plans to get better value through transparent savings at local optometrists.
- Prepaid vision plans like those VCD offers can help you save hundreds on a simple eye health visit.
Many Oklahomans are discovering the hard way that vision insurance isn’t really saving them money.
It sounds simple when you sign up. You’re paying a low monthly premium and get reimbursed when you need an eye exam or another eye health service. However, a basic visit to the optometrist can leave you paying hundreds out of pocket.
Low-cost insurance can seem appealing, but it fails to deliver any real value. Here’s why many are switching to a prepaid vision plan in Oklahoma instead.
The Hidden Costs of Insurance-Based Vision Plans
Why does traditional vision insurance cover so little? It comes down to the way these companies structure their plans.
The goal is to sell you a product, and these insurance companies usually do so by offering low upfront prices in the form of low-cost premiums. On the other hand, the cost of healthcare is up, and reimbursement rates are down.
This creates a situation where:
- You pay little for vision insurance and don’t get much coverage.
- Optometrists aren’t reimbursed for their full cost and have to increase their out-of-pocket costs.
Getting limited coverage is a major issue. Because you’re not spending much on premiums, your insurer has to cut its own costs, and it usually does so with limitations that get in the way of you getting access to affordable vision care:
- When you purchase vision insurance, it might sound like you’re covered for eye exams. The reality is that you can only get one exam a year, and a co-pay will come out of your pocket.
- Your plan covers new eyeglasses, but the fine print says you’re reimbursed for up to $60 on frames and not covered for UV or anti-scratch coatings. These limitations can easily add $200 to $300 to your new glasses.
- Lab restrictions are also common. Insurers often hide these in the fine print, limiting which labs you can use for eyewear and contacts. These pre-approved labs might have high out-of-pocket costs and a limited selection.
Traditional vision insurance can feel like a good value until you’re actually using your plan. Many limitations and out-of-pocket costs are hidden in the fine print to make these products seem more appealing. This results in surprise bills since it’s hard to understand how much your plan will cover.
What Makes Prepaid Vision Plans Different?
Prepaid vision plans aren’t an insurance product. They don’t use a structure based on reimbursements, instead giving you access to vision plan savings.
For instance, a prepaid vision plan could give you a $100 savings on a new frame, $40 off the anti-reflection coating, and $80 in savings on progressive lenses. The plan negotiates these savings with your optometrist instead of imposing a reimbursement rate, which means optometrists get compensated fairly and don’t have to increase out-of-pocket costs.
The structure is completely transparent. You can check your savings before visiting the optometrist, ask about their prices, and know exactly how much your bill will be before you even receive the eye health services.
Here’s how prepaid plans create more value for you and your family:
- There are no confusing marketing claims; you know exactly what you’re paying for and how much you’re saving.
- You won’t have to worry about limitations hidden in the fine print or lab restrictions.
- Some vision insurance plans claim they will reimburse you for things your health insurance already covers, which leads to complex coordination of benefits and results in you paying twice for something your health plan will cover anyway. Prepaid plans don’t engage in this questionable practice.
Prepaid vision plans are also flexible, with different tiers available. If you’re on a budget, a basic plan tier can help you save on eye exams, and you can decide to upgrade later to a plan with additional savings on pediatric eye exams for your family or advanced services to help you manage a developing eye health condition.
Vision Insurance vs. Prepaid Plans: What’s the Best Value?
A traditional vision insurance plan has a slightly lower monthly premium than a prepaid product, but a single visit to the optometrist fully justifies spending a little more for a prepaid plan.
An eye exam can cost as little as $50 at a retail optometrist, and up to $150 at a private practice, with the price difference accounting for better service and more comprehensive testing. If you need new eyeglasses, you’re looking to spend $350 to $400, between frames and lenses.
With a prepaid plan, you can get a savings bundle that removes $200 to $300 from your bill, with savings on the exam, frames, lenses, and special coatings you need. Plus, you’ll have a great selection of frames and complete transparency.
A traditional insurance plan will leave you with a much higher bill for the same thing. Let’s say you have a $100 allowance for frames and lenses, but the coatings aren’t covered. You could end up paying a co-pay on the exam and several hundred dollars on your new glasses, on top of having to stick with your insurer’s preferred lab.
Find an Affordable Prepaid Vision Plan in Oklahoma
Paying low premiums for a traditional vision insurance product can be appealing, but the value is rarely there. Don’t wait until you get a surprise bill at the optometrist—switch to a prepaid plan now.
At Vision Care Direct of Oklahoma, we offer doctor-owned plans with great savings, transparent vision pricing, and a pricing structure that is fair for your local optometrist. There are several flexible plans to choose from, and you can save at one of the largest networks of optometrists in Oklahoma.
Explore our prepaid vision plans today to learn more.
FAQ
Vision insurance vs. prepaid plans: What’s the best value?
You can usually get lower premiums with traditional insurance, but prepaid plans give you access to better savings. Due to coverage limitations and hidden costs, traditional insurance often ends up costing more.
What are the common limitations of vision insurance plans?
Most vision insurance plans fail to cover advanced diagnostics and specialty coatings. You might also have to pick between coverage for eyeglasses and contacts, and only get coverage for one exam a year.
Which hidden costs should I watch out for with traditional vision insurance?
Watch out for co-pays and coverage exclusions. Limitations on the labs you can use, specialty coatings, and the number of pairs of eyeglasses or boxes of contacts you can get are also common.
What makes prepaid vision plans better than traditional insurance?
Prepaid vision plans use transparent pricing structures and clear savings on the eye health services and products you need. There are no hidden fees, and you know exactly how much you’ll save instead of navigating a complex coverage policy.
