Author Topic: Vision Insurance "trick"?  (Read 3341 times)

Lifeblood

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Vision Insurance "trick"?
« on: November 21, 2014, 01:21:43 PM »
I was recently hired-on by a large company and I signed up for 2014 vision insurance since the cost of coverage for 2.5 months (Oct - Dec 2014) is minor and I figured I could get an eye exam before the end of the year and if necessary buy new glasses, and thus easily get a good return on the spent dollars. Today is the last today of Open Enrollment for 2015 and I planned on opting-out of vision insurance for 2015 since I highly doubt I would need an exam and glasses next year. Probably I would sign-up again in 2016. Seems simple, but I was just wondering if my plan makes sense, or am I overlooking something? Maybe you all can see this situation more clearly and offer me advice.


Gone Fishing

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Re: Vision Insurance "trick"?
« Reply #1 on: November 21, 2014, 01:28:04 PM »
I've alternated Vision Insurance for years.

TreeTired

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Re: Vision Insurance "trick"?
« Reply #2 on: November 21, 2014, 01:59:39 PM »
Quote
Maybe you all can see this situation more clearly and offer me advice. 

Hey, you're the one with vision coverage!  :)

Spork

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Re: Vision Insurance "trick"?
« Reply #3 on: November 21, 2014, 02:08:44 PM »
This is my experience.  YMMV.

I signed up for the vision insurance.  Cost *seems* minimal before you do the math...  My experience was:

* there was a very limited number of Docs that were covered in town and they would not be the Docs I would choose.
* if you have a medical reason to see an eye doctor... this is usually covered by your medical insurance.  (In fact, the eye doc I go to sort of asks leading questions to try to get you covered.  "Are you having any medical issues?  Dry eyes, blurry vision, ...")

When I did the math for what I actually paid out of pocket for eyeglasses (buying through cheap online outlets) and eye Doc (going once every 2 years)...  It was slightly cheaper to just drop the plan.  Do the math yourself using the eye Dr. you want to go to and the glasses/contacts you will actually buy. 

Shade00

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Re: Vision Insurance "trick"?
« Reply #4 on: November 21, 2014, 02:09:54 PM »
I keep mine because it's super cheap and it pays for something like $100 or $120 worth of contacts each year. Mine is around $6 per month pre-tax, so it's really costing me less than that - probably more like $4 a month after tax.

Worsted Skeins

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Re: Vision Insurance "trick"?
« Reply #5 on: November 21, 2014, 03:59:34 PM »
There is a thread that I started earlier in the year that may be of interest to you:

http://forum.mrmoneymustache.com/welcome-to-the-forum/vision-%27insurance%27/

This is really a case where you need to run the numbers for your situation.

Schaefer Light

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Re: Vision Insurance "trick"?
« Reply #6 on: November 22, 2014, 06:54:46 AM »
I keep mine because it's super cheap and it pays for something like $100 or $120 worth of contacts each year. Mine is around $6 per month pre-tax, so it's really costing me less than that - probably more like $4 a month after tax.
My plan costs $13 per month (probably more like $10 considering that it's pretax money), and it pays for $150 worth of contacts.  None of the VSP plans I've run across seem to offer really good benefits for people who wear contacts.

Spork

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Re: Vision Insurance "trick"?
« Reply #7 on: November 22, 2014, 09:24:59 AM »
I keep mine because it's super cheap and it pays for something like $100 or $120 worth of contacts each year. Mine is around $6 per month pre-tax, so it's really costing me less than that - probably more like $4 a month after tax.
My plan costs $13 per month (probably more like $10 considering that it's pretax money), and it pays for $150 worth of contacts.  None of the VSP plans I've run across seem to offer really good benefits for people who wear contacts.

Mine was worse:  Something like $150 worth of contacts every other year... and only if you buy them from less-than-stellar eye doctors that have brochures for crystal healing in their waiting rooms.