Vision Insurance or Flexible Spending?

Give your employees the benefits they need most with vision insurance.

Vision insurance remains an unsung hero in the world of employee benefits. Although more than 50 percent of the U.S. population requires corrective lenses, and 80 percent of the population over 45, employees don’t look for vision care coverage the way they do dental insurance. In a recent study, 53 percent of employees say they want vision insurance, while 68 percent want dental coverage. Employees are more inclined to use their flexible spending account to pay for corrective lenses – often taking advantage of end-of-year sales reminding people to use their FSA dollars or Healthcare Savings Account (HSA) money before it expires. But vision coverage can represent a far greater value to many employees when bundled as part of their ancillary group benefits package.

Vision Insurance: So Much More than Corrective Lenses

Most people think of their vision insurance as a means to pay for their glasses or contact lenses. But annual eye exams are an important part of a person’s overall health. Not only can detecting vision problems early help preserve a person’s vision, the eyes may also indicate signs of other health problems that require a doctor’s care.

Therefore, vision coverage should be part of any workplace that focuses on employee health and fitness to reduce healthcare costs, reduce employee sick time, and improve productivity.

The Eyes: Windows to Your Health

Blood in the back of the eye, which may be detected by an ophthalmologist during a routine annual eye exam, is one of the first signs of diabetes. Additionally, eye exams can reveal conditions such as brain tumors, skin cancer, high cholesterol, high blood pressure, and other ailments, large and small, before they are spotted by a physician.

Vision Coverage or Flex Spending?

Just like regular dentist visits, a visit to an eye doctor should be part of every employee’s annual health routine. Vision insurance makes it easy for employees to pay for the vision care they need, without taking money away from other areas.

Using flex spending or a healthcare savings plan to pay for vision care means that employees might have to choose between using that money to pay for prescription medicine, doctor’s visit co-pays, or vision care. Offering vision coverage as part of an ancillary benefits package helps ensure employees will invest in that important annual eye doctor visit.

Vision Insurance: A Cost Effective Benefit

As far as insurance premiums go, vision coverage is one of the most cost-effective health care benefits. The Federal Bureau of Labor Statistics states that vision benefit premiums come to about $70 to $80 annually, per employee, while healthcare premiums average $4,256 annually.

Not only is preventative vision care affordable in its own right, but it can help reduce overall healthcare costs through early detection of other diseases.

By bundling vision coverage with other ancillary group benefits, such as dental coverage, enriched DBL, and Group Life / AD&D, employers can save even more on monthly premiums.

Getting the Most out of Employee Vision Coverage

However, vision coverage is only effective if employees use it to get the most out of their vision care. Many employees don’t realize the services their vision insurance covers, or only use it for corrective lenses every two years.

Choosing the right insurance broker to educate you on every aspect of your group benefits plan and provide white-glove service in every situation can help you and your employees get the most out of your vision insurance and other benefits.

Let The DBL Center connect you with the best in ancillary group benefits for better employee health.