Laser eye surgery payment plan: What you need to knowLaser eye surgery, such as LASIK or SMILE® Pro, is an option for individuals looking to improve their vision and reduce dependency on glasses or contact lenses. However, the cost of the surgery can be a concern for many, as whether it’s partially covered or paid entirely out of pocket, the surgery is still a significant financial commitment.At IVISION LASER, we understand these concerns and how they can easily become obstacles in your journey to clearer vision. This article will guide you through various options for funding your laser eye surgery – including our payment plans with interest-free financing for those looking for laser eye surgery in Adelaide – so that you can make an informed decision. For more information about private medical coverage and which health funds cover laser eye surgery, read our write-up here.Let’s look into the expected costs of laser eye surgery and how you can manage them.At IVISION LASER, we want to make sure you’re well-informed and supported every step of the way. If you’re considering LASIK the best place to start is to check out our free online suitability test.Why is Laser Eye Surgery So Expensive? Understanding the Costs of Laser Eye SurgeryLaser eye surgery involves sophisticated technology and highly skilled surgeons, which can make it more expensive than traditional corrective options like glasses or contact lenses.1 https://www.lasereyesurgeryhub.co.uk/laser-eye-surgery/safety/ (This discusses laser safety and technology) Several factors influence the overall cost, including:Pre-operative consultationsSurgeon’s expertiseThe type of laser technology used (e.g., SMILE® Pro, LASIK)Post-operative care and follow-up visitsWhile the upfront cost may seem high, many patients find that it’s a worthwhile investment in their long-term vision health.2https://pubmed.ncbi.nlm.nih.gov/19344821/ (LASIK quality of life – This study supports the idea of LASIK improving vision-related quality of life) For example, if you regularly pay for prescription lenses and no longer need them after the surgery, you may find that it pays for itself over a few years.However, it’s important to remember that results and recovery times vary from patient to patient, and the complexity of each case can affect both cost and outcome. (You may still need glasses or contact lenses after surgery.)3https://www.sciencedaily.com/releases/2007/12/071228215645.htm (LASIK long term results – This source discusses long-term outcomes and the possibility of needing reading glasses)Comparing Laser Eye Surgery Costs in AustraliaIn Australia, the cost of laser eye surgery can vary depending on the clinic, the surgeon’s experience, and the type of procedure. Generally, prices range from $2,000 to $4,000 per eye, but they can run higher.4Australian Society of Ophthalmology https://aso.org.au/At IVISION LASER, we aim to offer transparent pricing and payment options to fit different budgets. We recommend consulting with our team to understand the exact costs related to your specific case.Common Payment Options for Laser Eye Surgery Paying in Full (Upfront Payment)Some patients prefer to pay the full cost upfront. While this requires a larger initial financial commitment, some clinics may offer a small discount for upfront payments.5Department of Health, Australian Government https://www.health.gov.au/Be sure to check with your clinic to understand the terms and whether this option suits your financial situation.Laser Eye Surgery Payment Plans Offered by IVISION LASERAt IVISION LASER, we offer flexible payment plans to help make laser eye surgery more affordable. Here’s what we provide:CostFrom 124 per eye/month*Period24 monthly paymentsIncludesPre-operative consultationTreatment for one eyeAll aftercare and post-operative appointments until discharge+5 years of enhancements (if you need them)Total Cost*From $2,971.08 per eye, with interest-free financingThis plan allows patients to spread the cost over two years, making the surgery more manageable without the pressure of a large upfront payment.Interest-Free FinancingFor those who wish to avoid interest fees, IVISION LASER offers interest-free financing on our monthly payment plans. This allows patients to pay for their surgery over 24 months without incurring additional interest charges.Laser eye surgery can significantly improve vision for many individuals, potentially reducing or eliminating the need for glasses or contact lenses. The specific outcome can vary depending on individual factors and is discussed in detail during consultations.Low-Interest Medical LoansIf patients are not eligible for interest-free financing, low-interest medical loans can be another way to cover the cost of laser eye surgery. These loans allow you to spread out payments over a longer period, but it’s important to review the terms and ensure that you understand the interest rates and fees associated with the loan.Consulting with a financial advisor before committing to any loan is always recommended.Does Health Insurance Cover Laser Eye Surgery? The Role of Private Health Insurance in AustraliaIn Australia, many private health insurance policies do not cover elective procedures such as laser eye surgery. Since it is typically considered a cosmetic or lifestyle choice, insurance providers often exclude it from their coverage or only offer partial coverage.6Private Health Insurance Ombudsman https://www.privatehealth.gov.au/However, in some rare cases where the surgery is deemed medically necessary, such as in treating certain severe conditions, your private health insurance may offer more comprehensive support.How to Check Your Health Insurance PolicyIf you have private health insurance, review your policy or contact your provider directly to understand your coverage. Some policies may offer partial rebates for consultation fees or post-operative care, even if the surgery itself is not covered. Each insurance policy is different, so be sure to ask the right questions and clarify what is and isn’t included.Medicare and Laser Eye SurgeryMedicare does not typically cover laser eye surgery, as it is regarded as an elective procedure. However, if the surgery is necessary to treat a serious eye condition, Medicare may cover part of the cost. It’s essential to consult with your ophthalmologist to determine if your surgery qualifies for Medicare coverage.Are There Any Government Assistance Programs for Laser Eye Surgery? Does Medicare Cover Laser Eye Surgery?As mentioned before, Medicare generally does not cover elective laser eye surgery for vision correction unless it’s required to treat a serious medical condition, such as cataracts. In such cases, Medicare may cover certain aspects of the surgery, but this will vary depending on the specific medical need. Patients should speak with their ophthalmologist to understand their eligibility.Medicare Safety Net and Laser Eye SurgeryWhile Medicare won’t cover the surgery itself, patients who reach the Medicare Safety Net threshold may receive rebates for pre-surgery consultations and some follow-up treatments. The Safety Net is designed to reduce out-of-pocket expenses for high-cost medical services, but its application to laser eye surgery is limited. Patients should check their Medicare status and eligibility before proceeding.Rebates for Medically Necessary ProceduresIn cases where laser eye surgery is deemed medically necessary, some rebates may be available through Medicare or private health insurance. It’s essential to have a thorough consultation with a medical professional to determine whether your specific case qualifies for these rebates.Can I Use Superannuation to Pay for Laser Eye Surgery? Early Access to Superannuation for Medical TreatmentIn Australia, it’s possible to access your superannuation early for medical reasons, but this is generally restricted to serious conditions. Much like Medicare coverage, for laser eye surgery, early access to superannuation may only be available if the surgery is considered essential for your health. The process of applying for early super release involves strict eligibility requirements and detailed documentation from your healthcare provider.7Australian Taxation Office https://www.ato.gov.au/The Process of Accessing Superannuation for Laser Eye SurgeryIf you qualify for early access to superannuation for laser eye surgery, you’ll need to apply through the appropriate government channels. This process requires supporting documentation, such as medical reports and proof of necessity. The approval process can take time, so it’s essential to plan ahead if you’re considering using your super for this purpose.What Happens If I Can’t Afford Laser Eye Surgery? Exploring Other Financing OptionsIn addition to payment plans and medical loans, patients may explore options such as medical credit cards. You’ll want to review all terms and conditions, including interest rates and fees, to ensure you’re making a sound financial decision. Be cautious of high-interest options that could increase the overall cost of your surgery.Speaking to Your Surgeon About Payment FlexibilityAt IVISION LASER, we encourage patients to speak with their surgeon or our administrative team about their financial situation. While not guaranteed, we may be able to offer flexible payment solutions tailored to your individual needs. It’s important to have open communication to understand what’s feasible for both parties.Things to Consider Before Choosing a Payment Plan Hidden Fees and ChargesWhen selecting a payment plan, always read the fine print and check for hidden fees or charges, such as late payment fees or administrative costs. Transparency is key when it comes to understanding the total cost of your treatment.You should also consider anything that doesn’t fall within the payment plan, like transportation costs (if travelling to the clinic) or any prescription medication required after the operation.Length of Payment PlanPayment plans at IVISION LASER typically extend over 12 to 24 months. While longer payment periods result in smaller monthly payments, they can also increase the overall cost of the procedure. Ensure that the payment plan you choose aligns with your financial situation and long-term goals.Impact on Credit ScoreTaking out a loan or entering into a payment plan can affect your credit score. Before committing, it’s important to assess how financing may impact your overall financial health.Frequently Asked Questions About Laser Eye Surgery Payment Plans How do laser eye surgery payment plans work?Laser eye surgery payment plans allow patients to spread the cost of the procedure over several months or years, instead of paying the full amount upfront. Payment plans often come with fixed monthly payments and may be either interest-free or involve low-interest financing, depending on the provider. These plans are designed to make the procedure more accessible to a wider range of patients.Are all laser eye surgery providers offering payment plans?Not all clinics or surgeons offer payment plans for laser eye surgery. It’s important to check with your provider to see if they offer flexible payment options or financing. If not, third-party financing companies that specialise in medical loans may also be an option.What is the typical length of a laser eye surgery payment plan?Most payment plans for laser eye surgery range from 12 to 24 months. Some providers may offer longer or shorter terms, depending on the total cost of the surgery and the patient’s financial situation. It’s important to choose a plan length that fits comfortably into your budget.Are there any extra fees associated with payment plans?Payment plans can sometimes come with additional fees, such as administration charges or late payment penalties. It’s important to carefully read the terms and conditions of the payment plan to understand if there are any hidden costs involved. Some plans are interest-free, while others may involve interest payments, depending on the lender.What happens if I need to cancel my surgery after starting a payment plan?If you need to cancel your surgery after beginning a payment plan, contact your provider as soon as possible to discuss their cancellation policy. Some clinics may offer refunds or allow you to stop payments, but there could be fees or non-refundable deposits involved. Always review the terms before signing up for a payment plan to understand what happens in the event of cancellation.Do all patients qualify for laser eye surgery payment plans?Not every patient may qualify for a payment plan. Providers often assess your credit score and financial situation to determine eligibility. Additionally, third-party lenders may have specific requirements, such as a minimum income or credit score, before approving financing for laser eye surgery.Can I combine health insurance with a payment plan?While health insurance usually does not cover elective procedures like laser eye surgery, you may still be able to use a payment plan to cover the out-of-pocket costs that insurance doesn’t cover. If your health insurance offers partial coverage for medically necessary laser eye surgery, combining it with a payment plan can help manage the total cost.Can I pay off my laser eye surgery early if I’m on a payment plan?Many payment plans allow you to pay off the balance early without penalties, but it’s essential to confirm this with your provider or lender. Some plans may have early repayment penalties, so it’s best to review the terms carefully if you plan to settle the balance ahead of time.Making Laser Eye Surgery AffordableLaser eye surgery is a significant investment in your vision and quality of life, but there are multiple ways to make it more affordable. With options like flexible payment plans, interest-free financing, and potential rebates for medically necessary procedures, you can find a solution that fits your budget.To explore your options further, take our free online suitability test or book an appointment for a personalised consultation. Here at IVISION LASER, we’ll support you every step of the way through your journey to improved vision.