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LASIK Eye Surgery Financing Guide

You want the best for your precious eyes. That is why you have chosen Khanna Vision Institute in Beverly Hills. You deserve the latest technology, a skilled passionate surgeon, and certified and caring staff. 

Luckily, there are many LASIK eye surgery financing options when you choose Khanna for your vision care.

To make it easy to choose the best, we offer No Interest, $0 down affordable monthly payments. Financing for your LASIK eye surgery is available through three well-recognized heath care finance companies. This financing applies to all surgeries we offer, including SMILE, Lasik, PIE, ICL and Pterygium.

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How Does Financing Refractive Eye Surgery Work?

To finance LASIK eye surgery, you must first apply to one of our three financing companies. This process typically begins with an instant soft credit check. If approved, the company will subtract a financing charge. Then, they will pay us up front for the surgical procedure.

The financing company will be responsible for providing all financing details. You will make monthly payments directly to your chosen company. As long as you make timely monthly payments, you will maintain your No Interest financing. If you begin to miss payments, some interest may accrue.

Video Explaining Financing Refractive Eye Surgery

Soft Check vs Hard Check

LASIK eye surgery financing begins with a soft credit check. If approved, a hard credit check may be required later.

You might have heard that frequent credit checks can impact your credit score. What’s the difference between a soft credit check and a hard credit check? 

A soft credit check and a hard credit check are two types of inquiries that can be performed on your credit report. They serve different purposes and have varying impacts on your credit score.

Soft Credit Check

A soft credit check is also known as a soft inquiry or soft pull. This type of credit inquiry will not impact your credit score. 

  • Visibility: Soft inquiries are only visible to you on your credit report. They are not visible to potential lenders or third parties.
  • Purpose: Soft credit checks are typically used for pre-approval offers, background checks, or when you check your own credit score. They provide a high-level overview of your credit without delving into the details.
  • Consent: You do not need to give explicit consent for a soft credit check.

Hard Credit Check

Hard credit checks can temporarily lower your credit score, typically by a few points. However, the impact lessens over time and usually disappears within two years.

  • Visibility: Hard inquiries are visible to potential lenders and other third parties on your credit report. They may consider them when evaluating your creditworthiness.
  • Purpose: Hard credit checks are usually conducted when you apply for credit. They provide a detailed view of your credit history. They are used by lenders to assess your credit risk.
  • Consent: You generally need to give explicit consent for a hard credit check. You do this by signing an authorization form. You might also agree to the terms when applying for credit. 

In summary, soft credit checks are less invasive and do not impact your credit score. Hard credit checks can temporarily lower your credit score and are visible to potential lenders.

Laser Eye Surgery Financing Options at Khanna Vision

At Khanna Institute, we offer LASIK eye surgery financing through three reputable institutions: Alphaeon, Care Credit, and Wells Fargo. Learn more about each of your options below. 

Alphaeon

Scan or Click on the QR Code for soft credit check Pre-approval from Alphaeon

Go to Alpheaon site

Care Credit

Wells Fargo Financing

This division of Wells Fargo is different than the checking and saving account bank. That means they still need to qualify you even if you have a bank account with them.

Using Personal Loans to Finance Your Eye Surgery

You will repay your loan in fixed, monthly installments. Since the amount is fixed every month, it’s easier for a person to work it into their budget. Loans taken personally from healthcare financing institutions are not secured against any collateral. They are flexible as you can use them for any procedure, including Lasik presbyopic implants.

You will repay your loan in fixed, monthly installments. Since the amount is fixed every month, it’s easier for a person to work it into their budget.

People with good credit can get better rates. Many patients pay 0% for between 6 months and 5 years. You may wonder how this is possible and what’s in it for the financing institution.

Khanna Vision Institute pays a fees to obtain these rates for our patients. We want to make LASIK surgery as accessible and affordable as possible.

An alternative to financing is to get the funding from a bank, credit union or even an online lender. It is in your best interest to compare the various loans available.

There are several factors to compare to make a judgment of the best loan for Lasik eye surgery. Consider the following factors:

  • The rates
  • The loan amount
  • The time to fund the loan
  • How long you have to pay the loan bacl
  1. APR: annual percentage rate can be ranging from 6% to 36%. Your credit rating would be the dependent factor. If you have excellent credit that is 690 or more, you going to get better rates.
  2. Fees: Financial houses can sometimes charge processing fees. This can vary from one percent to 10% of the amount borrowed. 
  3. Financed amount: The amount lenders give can vary from $1,000 to $100,000 for Lasik eye surgery. $6000-$7000 is common for standard LASIK. For PIE or EVO ICL surgery, it approximately $12,000 to $17,000
  4. Term of the loan: A longer loan will have a higher interest cost but lower monthly payments. If you want to keep the loan cost down, a shorter-term loan may be a better choice. Be aware that short-term loans mean higher monthly payments.
  5. If you want to check your credit score, it is possible to do it online without any charge.

FAQ on Financing Refractive Eye Surgery In Los Angeles and Ventura County

What credit score do I need to finance my LASIK eye surgery?

A score of 690 or greater is usually required to obtain no money down 0% financing.

Do you need good credit to get financing assistance for LASIK?

LASIK eye surgery financing with bad credit is difficult but not impossible. Some companies will qualify individuals with low credit scores. You only need good credit to get 0% financing.

Is LASIK covered by insurance?

As of writing, neither Medicare nor private health insurance providers cover LASIK eye surgery. There may be some discounts if you have specific medical or vision insurance. 

For example, Eyemed and Spectra vision insurance has contracted with Khanna Vision Institute. Now we can give our stellar customer care to Khanna patients for a prenegotiated discount.

What insurance is best for LASIK?

We advise Khanna Vision patients to use an insurance company like Eyemed. This ensures you’ll get the best care with the highest discount. You’ll experience incredible outcomes and peace of mind at an accessible and affordable price. Be wary of any vision insurance that only works with less experienced practices.

How does financing work with LASIK?

Companies providing financing for LASIK offer a range of plans. Financing is available for terms ranging from six months to five years. Some lenders allow you to spread out payments over time without incurring any extra cost. Some short-term payment plans (3 months to 24 months) charge no interest at all. 

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