Vision insurance is becoming more and more common in employee benefit packages. The ability to search for and receive instant and free vision care quotes is also emerging rapidly on the Internet. Like any insurance, vision care plans vary. They can range from plans that just cover the bare minimum to expansive plans that cover high-cost eye treatments.
A typical plan for a small business will cover routine eye exams (usually one per year), prescription eyewear (glasses and contacts), and glaucoma screening. Visits can be made to an optometrist or ophthalmologist. Some average plans will also cover "usual and customary" treatment fees that result from a routine eye exam.
Vision insurance is quite cheap. Expect to pay in the area of $50 (per individual/per year) for an average plan through an HMO, insurance carrier, or otherwise. Employers generally contribute 25-50% of the individual's annual premium. If you do decide to go through your health insurance provider, you may save a little bit of money but the plan may end up being too narrow for your employees' liking. The cost will be tacked on to the employee's health insurance premium.
There are many different plans and insurance carriers-major insurance carriers as well as smaller independent carriers offer coverage. Get at least three quotes (many places let you do it online free of cost) and then do some comparing to get the best price.
Whether or not you should offer vision insurance, or any other extras in your benefits package, is always a question that plagues businesses-especially small businesses that just don't have the extra cash. Sure these extras will cost you; you most likely are going to contribute to the premiums. However, when you consider the big picture – that benefits like vision care can help attract high quality employees – the cost doesn’t seem so prohibitive.
