Vision Plans for Seniors

What Is Vision Insurance for Seniors?

Vision insurance for seniors is much like any other health insurance plan, except it covers only vision care. Policy options differ widely, but they may include basic levels of care such as eye exams. More extensive options will provide coverage for surgical procedures and complex treatment plans will cover more complicated senior eye conditions.

Most people benefit from having access to vision insurance as they get older, and many options are available. Below are some common questions to which older adults seek answers.

What Does Vision Insurance for Seniors Cover?

Vision insurance policies usually fall into two basic types of plans:

• Vision benefits packages. These typically provide a fixed dollar amount of coverage in exchange for a premium. The funds can be used for a variety of services, such as eye exams, glasses and other care. You pick the amount of available benefit to use at visits based on how much the policy purchased provides.
• Discount vision plans for seniors. There is not a specific amount available to spend with these plans. Rather, you pay into the program and receive a discount that applies to the vision care you need. You may, for example, receive 20 percent off the services listed in the plan, no matter what amount has already been spent.

How Do These Plans Differ?

Costs and coverage vary greatly, but we can provide more details if you have more questions about benefits plans and discount vision plans.

Vision insurance plans (benefit plans) offer defined benefits such as eye exams and eyewear allowances. They often have copays or coinsurance in exchange for a premium. They cost a bit more than purchasing a discount vision plan, but they’re good for older adults who are likely to need more than just routine eye care.

Vision discount plans offer a defined discount on services, but they don’t directly cover the costs. You may, for example, receive 20 percent off an exam or service.

How Much Does Vision Insurance for Seniors Cost?

Plans vary significantly, so it’s difficult to give a bottom-line number. Just to give you an idea about minimum costs, however, we checked our three suggested vision plans’ websites regarding coverage for one person in Florida.

DirectVision’s website showed two EyeMed and VSP monthly plans. They began at about $9 and $12 per month. Spirit Dental and Vision’s website’s most inexpensive plan started at about $18 per month. VSP asked if we wanted glasses or contacts. We chose contacts, and they recommended their standard plan for about $11 per month.

Remember that premiums often increase with age, and they vary by location, coverage level and networks. Even with vision insurance or a vision discount plan, your deductibles, copayments, coinsurance, exclusions and limitations will vary.

Also consider whether plans have waiting periods and roll over yearly when factoring in costs and benefits.

How Do I Choose the Best Vision Insurance Plan for Me?

To select any type of vision insurance plan, you need to consider your specific needs. Older adults who need new eyeglasses or contact lenses only every few years, for example, may benefit more from a discount package.

Those with conditions such as macular degeneration or cataracts, on the other hand, are likely to need more sophisticated services. If you don’t have Medicare, it may be wise to invest a bit more in a higher-priced plan.

A good way to determine which vision plan is best is by calculating the average cost of a visit. Seniors who end up at the eye doctor frequently and for more complex needs, for example, should consider the cost of that visit. What would save you more on the visit: 20 percent off from a vision discount plan or paying a flat $25 copay and paying a premium once a year?

What Are Some Senior Insurance Carriers?

There are numerous vision insurance carriers, so you should compare the various policies before making an investment in any one company. Below are a few options to consider.

• AARP: You may tap into the popular AARP vision discounts provided by EyeMed. AARP members will save on the services they need. Members can purchase a vision benefits package from EyeMed with various options to choose from for most needs.
• Humana: The company charges a flat rate for coverage through a comprehensive vision benefits package. You can choose from several plans to meet your specific needs.
• Medical Mutual: The insurance agency offers a vision benefits plan for older adults, which can assist you if you’re looking for a flat fee for your vision care.
• VSP Individual Vision Plans: Older adults using VSP for vision insurance have the advantage of a very large network of providers. VSP is a well-known service that provides coverage for eye care.

Eye insurance (or benefits) plans offer more predictable costs and comprehensive coverage, but each plan has many offerings. Therefore the costs and plan benefits vary widely.

Where Can I Find Vision Insurance for Seniors?

A good place to start is by checking your current medical insurance, especially if you have a Medicare Advantage policy. About 99 percent of enrollees in those plans have access to vision coverage.4

Many Medicare Advantage plans from UnitedHealthcare, Humana and Aetna offer supplemental vision coverage for an additional premium. It covers routine eye exams and offers allowances for eyewear (lenses, frames or contacts) when using in-network providers. Since specific vision benefits vary significantly between individual plans, review your plan’s evidence of coverage.

If you already have Medicare Supplemental Insurance, check your coverage or speak to the carrier to see if they have vision discounts or savings options. Remember: Supplemental and gap coverage are not incorporated into your standard Medicare coverage.

If you’re a service member or veteran, the U.S. Department of Veterans Affairs covers routine eye exams and preventive testing for glaucoma and other eye issues. Find out from them, since you may also qualify to receive eyeglasses and other forms of vision care.

Older adults may wish to enroll in a membership program such as AARP to help reduce their vision costs. The discount for AARP members using their third-party providers, such as EyeMed, can save you money.

Then look to vision insurance carriers. Most offer coverage for both seniors and younger people. Do some comparison shopping no matter where you obtain your coverage.

Check out the video below to learn more about vision insurance for older adults.