A Patient’s Guide to Affordable LASIK

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Posted by: Missouri Eye Institute in Blog on November 15, 2021

If you’re considering LASIK but are curious about the price, you may discover that this life-altering vision correction procedure is more affordable than you thought. The trick is to consider the big picture.

The typical investment in LASIK laser eye surgery ranges from $2,000 to $3,000 per eye, according to nationwide averages. Because it’s considered a cosmetic procedure, insurance will not cover the cost of surgery. It may seem a daunting figure to pay out of pocket, but in terms of lifetime expenses, LASIK costs far less than prescription glasses and contact lenses. 

Annual eyeglass prescriptions can easily exceed $300 per pair, plus taxes and inflation; the cost of contact lenses, cleaning solutions and other associated supplies is higher. Over the course of several decades, it’s not uncommon to rack up $25,000 or more in prescription costs, even before taxes and inflation are factored into the price tag.

While the price of LASIK surgery doesn’t need to be spread out for decades, there are ways to make LASIK affordable on your budget – and you can see better now rather than much later.

HSA/FSA

If your employer offers a Health Savings Account (HSA) or a Flexible Spending Account (FSA), you’re in luck. HSA/FSA accounts can be used to pay for any qualified medical expense, including LASIK. As of 2021, you can put up to $2,750 in untaxed contributions in your account, which helps save money on LASIK.

In-House Payment Plans

You can take advantage of in-house financing to cover the cost of LASIK upfront, then pay low monthly installments to pay down your balance. At Missouri Eye Institute we work with multiple financing providers, which work similarly to most major credit cards and are intended specifically to pay for medical costs. Our online calculator can help you estimate your payments.

Tax Refund 

If you’re fortunate enough to receive a refund on your federal or state income taxes, LASIK is a great place to invest it. The cost of LASIK may even be tax-deductible, depending on your filing status. Consult with your tax preparer to see if you qualify before you explore other payment or financing options.

Personal Financing

Many banks and credit unions offer special savings accounts that allow you to set aside money for a specific purpose in the future, such as holiday gifts, education, home improvement or vacations. This type of account is a great way to save up for LASIK and earn a bit of interest in the process. Ask your financial institution and your employer about automatic payments to your special account, so you never have to think about it until you’re ready to use it.

Combine Methods!

Of course, you don’t have to choose just one method: You can tailor two or more payment approaches to find a combination that works for you. For example, you could pay a portion of your LASIK surgery fees from a tax refund, personal savings, or HSA, then finance the balance. You’ll start recouping your LASIK costs the first time you don’t have to buy expensive prescription lenses.

Missouri Eye Institute has helped thousands of patients attain freedom from glasses and contact lenses. Contact us at (800) 383-3831 to schedule a thorough eye exam or visit MissouriEye.com to learn more about our services.