The financial cost of Cataract surgery has different ranges and many factors can influence what you pay for Cataract surgery. For instance, the location of the procedure can influence cost. Patients may have a choice between a local outpatient hospital facility or an Accredited Surgery Center (ASC). Additionally type of technology you choose can impact cost. Many surgeons may still be using older techniques when modern techniques maybe best for your procedure. Here is a list of some of the factors you might need to consider when looking at the overall cost of Cataract surgery.
Insurance: Your cataract cost may depend on the type of insurance you have whether it be HMO or PPO. It’s best to really know what you are getting with your plan by calling them and finding out your benefits and coverage information.
Copay: Depending on your insurance your copay can vary and these are due at the time the service is rendered. It is always best to check your copay cost by calling your insurance company.
Deductible: Your deductible is the amount you pay for the service before your insurance pays any portion towards the procedure you are having, whether it be the exam, diagnostic testing or a procedure. Once you have met your deductible, based on the plan you have, the insurance can cover a portion or all of the amount billed.
Co-insurance: Co-insurance are the fees that are considered to be your portion of the allowed amount provided by your insurance. Your coinsurance should have an annual maximum out of pocket and once you have met that then your insurance should cover at 100%.
FSA/HSA: Your FSA/HSA can help cover the cost for your copays, deductibles, co-insurance, prescriptions, or over-the-counter medications that are required for you procedure and can be used as a tax deduction at the end of the year. The difference between the two is that the FSA expires each year and if you have not used the funds will pretty much go to waste. HSA accounts do not expire until you retire and can be used for any health related expenses.
Medical Financing – Care Credit/Wells Fargo: Care Credit offers a credit card for healthcare treatments and procedures which can be used for purchases of all amounts. With care credit, it makes it easy to afford the procedure you desire without the stress of a big chunk coming out of your pocket. Care Credit offers monthly payment plans that can work with your monthly budget, such as 6,12,18, & 24 months with no interest plans. Wells Fargo offers the previous mentions as well as no interest equal installment 36 month payment plan. Very convenient for those who want the most advance procedures but don’t have the money up front to pay for it.
Facility: The facility fee may be covered by your insurance or a nominal fee discussed by the surgery counselor.
Lens: Based on the type of Lens you choose the cost can vary. Currently there are lenses available that can free you from the use of glasses or contacts. There are also lenses that can correct astigmatism.
Anesthesia: Anesthesia can be covered by your insurance just like the procedure but may also paid by you, depending on the above factors such as coinsurance, copay, and deductible.
Anesthetist: The anesthesiologist is not always required but when they are, the expense increases to administer the anesthesia. Reminder this expense is not included in the facility fee and must be taken care of separately.
ORA (O Range): ORA is a device that is attached to the microscope. This will increase the outcomes and accuracy to your cataract procedure and is best for those patients who have had RK or Lasik. ORA is used at the time of the procedure to determine the correct lens is inserted. The ORA also helps calculate the astigmatism which will determine the power of the Toric or Presbyopic IOLs. This is a premium option for you to have the best and most precise calculations to your procedure.
Manuel/Laser Assisted: Choosing manual (traditional) vs Laser assisted cataract surgery will affect the financial cost of cataract surgery. The traditional way of doing cataract surgery is done by used a small hand held blade to make incisions on the cornea and also to make an incision in the lens capsule where the natural lens will be removed and new lens will be inserted. Laser assisted cataract surgery is done by a Femtosecond laser which will create an automated incision on the cornea and can also be used to soften the lens so the surgeon can use less ultrasound energy when removing the natural lens. The laser assisted method has been shown to have a much faster visual healing and is a very precise method.
Fine Tunings: This expense is usually covered if you are upgrading your lens to what we call a premium lens. Fine tuning can consist of different laser treatments, such as, Lasek, Lasik, Superlasik or Yag laser. Also can be astigmatism correction procedures like LRI (Limbal Relaxing Inscisions).
Adjusted Therapy: Treatments such as yearly follow ups or dry eye treatments are generally paid for by insurance.
At the Khanna Vision Institute we strive to give all our patients all the information of what insurance coverage can provide as well as what treatment is required for vision to be the most successful.