In a Nutshell
If you want LASIK, but can’t afford the out-of-pocket cost upfront, there are ways to finance it.LASIK financing could help you pay for laser eye surgery.
If you’re tired of wearing eyeglasses or contact lenses, LASIK is one way to correct your vision. But it’s an expensive procedure that many people can’t afford to pay for out of pocket.
That’s where LASIK financing comes in. We’ll walk you through how much LASIK costs and some financing options to pay for it.
- What is the average cost of LASIK surgery?
- Can LASIK be financed?
- What you should know about LASIK financing
- How we picked these LASIK financing options
What is the average cost of LASIK surgery?
LASIK surgery can average out to around $5,200, according to the National Library of Medicine.
The price may vary based on your vision and the technology being used for the laser eye surgery. But in general, you can expect to pay anywhere from $1,000 up to as much as $4,000 per eye.
How much does LASIK cost with insurance?
Unfortunately, not all insurance plans cover LASIK, because many providers consider it an elective procedure.
But in some cases, you still might be eligible for a discount. Some vision care insurance companies offer discounts for using approved LASIK providers — and while that might not cover the full amount, it’s worth checking with your vision insurance provider to see if they offer any discounts that could reduce the cost.
Is LASIK covered by FSA?
You might also be able to pay for LASIK with a flexible spending account.
If your employer offers a flexible spending account, you can spend up to the FSA limit per year on eligible healthcare expenses and medical costs like LASIK.
The money you set aside for your FSA is taken out of your paycheck before taxes. So you could save about 30% — or however much you would’ve otherwise been charged for taxes — on the amount you set aside.
If your employer offers a flexible spending account option, and you’re planning on getting LASIK, this could be worth considering.
Can LASIK be financed?
Given how expensive LASIK can be, you might need a little more help paying for it.
As helpful as an FSA account or insurance discount could be, these options might not be available to everyone, and even if you have access to them, they might not cover the full cost of LASIK. So if you’ve exhausted your other options, you might consider borrowing money.
Do LASIK providers offer payment plans?
A good place to start is with your LASIK provider. It’s worth checking to see if your eye doctor offers LASIK payment plans.
One example: Some LASIK providers partner with AccessOne to offer patients special financing. Even if you have bad credit, you could qualify for a 0% interest rate.
Another example: some LASIK providers work with CareCredit, which has offered special financing rates as low as 0% for 24 months.
More LASIK financing options
If your LASIK provider doesn’t offer low-cost financing, or you’re looking for other lower-cost ways to finance a medical procedure, you might want to consider applying for a low-interest credit card, medical credit card, personal loan or medical loan.
While a credit card might offer a lower promotional interest rate, a personal loan could give you more time to pay.
You might have also heard of buy-now-pay-later apps like Afterpay. But when it comes to LASIK, consider steering clear of those if you have other options, because this is a big expense that you might struggle to pay back in such a short amount of time.
What you should know about LASIK financing
LASIK is an expensive medical procedure that insurance may not cover.
You might be tempted to take a flyer on a cheap LASIK provider — but if it looks too good to be true, it probably is.
Vision care is an area of your life you don’t want to skimp on. It’s important to find an experienced LASIK surgeon, and the better the quality of care, the more expensive it may be.
If you’re considering LASIK financing to help you pay for quality treatment, you should also be wary of deferred interest offers.
If you’re offered special financing, check the fine print to see what happens if you don’t pay off the entire balance by the end of the promotional period. Will you only owe interest on the remaining balance? Or will you be hit with backdated interest charges on the amount you already paid?
Deferred interest can sneak up on you. So before you sign on the dotted line, make sure you have a bullet-proof plan to pay off your balance in time. Otherwise, you might end up with more debt than you bargained for.
How we picked these LASIK financing options
To find the best LASIK financing options, we went through a step-by-step process to figure out the best way to pay for laser vision correction.
If you have vision insurance, you may want to start there. Unfortunately, depending on the insurer, you may not get coverage for the majority of the cost.
We looked at FSA accounts that help you save money for major healthcare expenses. But since not everyone has access to these options, we turned to LASIK payment plans that your provider might offer. After that, we examined third-party financing options, such as personal loans and credit cards.
*Approval Odds are not a guarantee of approval. Credit Karma determines Approval Odds by comparing your credit profile to other Credit Karma members who were approved for the personal loan, or whether you meet certain criteria determined by the lender. Of course, there’s no such thing as a sure thing, but knowing your Approval Odds may help you narrow down your choices. For example, you may not be approved because you don’t meet the lender’s “ability to pay standard” after they verify your income and employment; or, you already have the maximum number of accounts with that specific lender.