For many people the cost of LASIK surgery can be a deterrent for having the procedure. LASIK costs can be as high as $2,700.00 per eye.
Healthcare Financing Companies
You can obtain financing through a company that specializes in healthcare financing. You can use it for medical or dental costs that qualify.
Flexible Spending Accounts
Many companies offer employees an opportunity to set up a flexible spending account.
Eye Doctor’s Office
Many LASIK surgeons provide their own financing programs. Some will provide interest free financing if paid off within one year.
How Does Using a Healthcare Financing Company Work?
You will need to check with the eye surgeon that you have chosen for the LASIK procedure to see which financing company they have made arrangements through.
Most companies offer a variety of plans. You may have the choice of interest free financing. The time periods to pay off the loan can be a few months to as long as five years. The interest varies from the low teens to as high as the upper twenties depending on the company, the length of the loan, and your credit rating. You will be set up with a payment plan which may require a down payment. You can probably set up the monthly payment amount by varying the length of the loan. Most companies do not have a pre-payment penalty for paying off the loan early. There are usually fees applied with late payments and this could also be reported to the credit reporting companies.
The Loan Application Process
Most of the application process is very simple and straight forward. It can usually be done on line in the surgeon’s office. If not you can fax in the application or go to the company’s website. Some of the companies now have smart phone apps that you can download and apply through their app. You will receive the answer in most cases within twenty four hours. Some companies will give an answer in a few minutes.
Flexible Spending Account Process
Flexible spending accounts are run through the company where you work. You can put aside the amount of money you desire up to five thousand pre-tax dollars in most states. The amount to be taken out of your paycheck is divided by the number of pay periods that you have per year. Your company can also contribute to your flexible spending account if the put it in writing. You need to make sure that you use the money in the account within the designated time period.
Financing by the Eye Doctor’s Office
Each doctor can set up a financing program through their office. Many times it may be interest free. You will need to ask your eye surgeon if they offer such a plan.
LASIK surgery financing is available and need not be a deterrent to being able to have LASIK surgery performed. You need to research your options to decide which way of financing meets your needs.