Personal Finance

$1000 off Laser Eye Surgery

  • Last Updated:
  • Feb 9th, 2016 9:14 am
[OP]
Banned
Apr 21, 2013
2 posts
1 upvote

$1000 off Laser Eye Surgery

Hi
Does anyone know of an insurance company that covers Laser Eye Surgery. Example, Rogers covers $1000 via Sun Life. Manulife covers $275 via employee benefits for most standard group benefit programs. I am retired and do not have insurance what company/ what package should I consider? With all my research Laser Eye Surgery is not covered by most insurance companies with the exception of Great West but the month rates are too expensive. Here is my logic; Regular insurance will cover $200 per 24 months or $100 per 12 months. Laser Eye Surgery comes with a 5 year guarantee, its predicted to last 10 years with out touch ups or corrections. With that being said you wouldn't need glasses for 10 years meaning the group benefits plan should pay out the lost value of $1000 ($100x10years) to the Laser Eye Surgery procedure or at least half?
Should I find a new job (lol), with a benefits program or buy private? I am looking for some insight on the best deal possible to limit my expense. Who do you recommend.
Thanks
37 replies
Sr. Member
User avatar
Apr 5, 2009
948 posts
333 upvotes
Toronto
I suggest you focus on the medical aspect first. What age are you? Will laser eye surgery actually get you perfect stereo vision back? I'm pretty sure the policies that would allow you to cover $1000 or so towards that kind of procedure would have premiums way in excess of that, especially if you don't have an employer paying the bulk of your premiums.
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Dec 26, 2006
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markowen369 wrote: With that being said you wouldn't need glasses for 10 years meaning the group benefits plan should pay out the lost value of $1000 ($100x10years)
What if you left your job right after? They would pay the cost, and your next insurer would get all of the savings.

I like your thinking, but to protect themselves they should allow you to claim $100 (or whatever the annual allowance is) each year against a previous laser eye procedure (that was done while they were your insurer) until that procedure is "paid off".
Deal Fanatic
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Jan 31, 2006
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markowen369 wrote: Hi
With that being said you wouldn't need glasses for 10 years meaning the group benefits plan should pay out the lost value of $1000 ($100x10years) to the Laser Eye Surgery procedure or at least half?
Thanks
I doubt it, what if you fired out or layoff ? Eyeglasses benefits is not the same as laser surgery benefit, you need a receipt to claim it (I doubt you can used the same receipt to claim every year even it is just $100)
Deal Expert
Oct 6, 2005
16527 posts
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markowen369 wrote: I am retired and do not have insurance what company/ what package should I consider?

Should I find a new job (lol), with a benefits program or buy private?
Thanks
Have you received quotes for personal health insurance, my guess is that you'll be around $200 a month if not more. You maybe better off just paying out of pocket for the procedure, but that is up-to you to calculate. Alternatively you can find a job with excellent benefits and work a couple years to milk the benefits.

Also, if you indicate to the Laser Vision Clinic you're paying out of pocket, they may have a discounted price.
cgtlky wrote: I doubt it, what if you fired out or layoff ? Eyeglasses benefits is not the same as laser surgery benefit, you need a receipt to claim it (I doubt you can used the same receipt to claim every year even it is just $100)
Exactly, it's usually set amount, one time - you cannot claim and reclaim using the same receipt.

However, what if the clinic billed in increments? (i.e. per eye) :D
Banned
Dec 31, 2015
2 posts
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Vancouver, BC
Ya i can see where yo're going with this but naw - If you want personal health insurance, go to a broker and get a custom package but dont make the Lasik the deciding factor - look at the long term vs. the short term - If you're retired Im gonna guess your older meaning you may need the insurance for something else too - Ok, from the original post get Great West or get a job at Rogers and use the benefits - Another way to look at is the value of your time to save 3000 [cost of the operation] - If you run around and get a job to cover the operation like with the government for example chances are you will need to wait 3 months before getting benefits - Lets say 20 hours a week at 20 per hour is 400 four weeks in a month 1600 over three months is 4800 - As you are retired what is your time worth to you - Again 40 per hour at 20 hours per hour is 800 four weeks in a month is 3200 over three moths is 9600 the difference is 4800 less the 3000 for operation by this logic you have lost 1800 or if your time is worthless you have only made 1800 for 480 hours isnt wroth it
Really insurance company's need to cover Lasik, but its still new and many people have complications after the operation so its a can of worms for them but it came out in the 90's and has been profected in the 00's so its over 20 years old now and should be a staple in benefits / provided by insurance : )
Deal Fanatic
Feb 15, 2006
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Toronto
If you are trying to buy health insurance that would cover laser eye surgery, good luck.

As employer that covers laser eye surgery, Ontario Hydro and its successor companies (OPG, Hydro one, etc.) covered $3000. Several laser eye centres happened to start offering Hydro discounts of $3000, when OH started that coverage. Some other companies or government branches may cover, but it's rare. But if someone who is covered, got that surgery for $3000, and for the next many years they don't have to get prescription glasses, it can be worth it for the company.
Sr. Member
May 18, 2008
743 posts
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Toronto
Your lucky to be getting anything that covers laser eye surgery, its considered cosmetic. I paid $3300 out of pocket
Deal Addict
Feb 4, 2003
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My work insurance will allow for the vision coverage to apply for laser surgery but it an onetime payment. Would have been great if they allow to claim against it until full coverage after x years.
Deal Fanatic
Feb 15, 2006
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iamthebest wrote: Great West covers it.
Are you saying employees of Great West gets this coverage? Or do you mean you know of a company that covers that in their benefit, and GW is the administrator of that company's benefit plan? Big difference.
Deal Addict
May 15, 2013
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Montreal
Arrgh wrote: Are you saying employees of Great West gets this coverage? Or do you mean you know of a company that covers that in their benefit, and GW is the administrator of that company's benefit plan? Big difference.
Both.
Sr. Member
May 14, 2010
983 posts
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Halifax
Arrgh wrote: Are you saying employees of Great West gets this coverage? Or do you mean you know of a company that covers that in their benefit, and GW is the administrator of that company's benefit plan? Big difference.
I found the below on the GW website which makes me think its an option that a private company could add to benefit their employees.

You may also choose to offer these optional benefits to your plan members:

Out-of-country medical care while traveling for business, vacation, or education purposes
Paramedical coverage – may include the following practitioners:

chiropractors
psychologists/social workers
physiotherapists
podiatrists (and chiropodists)
speech therapists
dietitians
osteopaths
naturopaths
acupuncturists
massage therapists

Visioncare – you may choose to cover:

eye exams only
eye exams, glasses and contact lenses
glasses and contact lenses only
laser eye surgery (plan members receive benefits equivalent to those offered for glasses or contact lenses)
Deal Fanatic
Feb 15, 2006
8507 posts
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Toronto
A company can choose to include it as part of their benefit package, any company. But it's an expensive option for the company to pay for.

You can buy any insurance/benefit yourself with an insurance company, including tailored made insurance/benefit package, that can include it. It will be expensive.

Saying Great West covers it, doesn't say much. You can replace it with any insurance company, because you can always buy that coverage from any insurance company, at a cost.
Sr. Member
Mar 3, 2015
699 posts
94 upvotes
Scarborough, ON
Please dont do it if u have minor problem.
The risk is costly and cannot be corrected.
My cousin did it and is one eye completely blind and lost his driving privileges. Don't play with your eyes because eyes are priceless we underestimate.

Here is femous cases:
http://lasikcomplications.com/celebrities.htm

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