Vision Insurance For Laser Eye Surgery

In 2018 everybody realizes Lasik has come to stay. We have learned how to overcome the side effects and get a great visual outcome utilizing the latest technology. What hasn’t changed is the ability to afford it. There’s a lot of confusion about coverage of Lasik eye surgery through vision insurance and medical insurance. So we are going to take a look to see how we can analyze the different insurances and rebates to make Laser Eye Surgery affordable in the year 2018Let us start by stating vision insurance is actually a misnomer. It’s very unclear why vision and dental were cut out of medical insurance to be created as a separate unit. Vision insurance actually would be better called Spectacle and contact lens insurance. That’s what they mainly pay for. We all know eyes are part of the human body. Doctors also know that nearsightedness or farsightedness are a pathology of the eye. It is insurance driven concept that Lasik eye surgery is cosmetic. We tend to disagree with that concept. We believe cosmetic is the way world sees us whereas visual is the way we see the world. Therefore ideally Laser Vision correction should be fully covered. It is not. Let’s make the best of the rules laid out.


Vision insurance like VSP or Vision Service Plan, Eyemed, Davis, Spectera and the like don’t cover Lasik eye surgery. They benefit in one of two ways. They negotiate discounts with the Refractive eye surgeon on their plan. Usually it is a discount of fifteen percent from the best available rates. VSP also negotiates directly with laser eye centers. This allows patients to avail a fixed flat fee for this sight improving surgery that is below the market rate. The exact price would depend o the technology used. So Vision insurance discounts are still better than paying the full price but they don’t cover the surgery entirely.Coming to medical insurance; they may cover some aspects of the care needed before during or after Lasik eye surgery. We are referencing to full eye exams, management of dry eye, insertion of punctual plugs and medically necessary interventions. We are making it explicitly clear that medical insurance is not going to cover Lasik eye surgery. There are certain insurances like in Los Angeles the LA city fire fighters have their union fund which pays $1500 towards each eye for Laser Eye Surgery. All over the country there might be such opportunities.There are certain mediators who negotiate with Lasik eye centers and surgeons to take a discounted rate for certain insurances like Blue Cross Blue Shield. They advertise directly to the members of the insurance groups. They are able to save on marketing costs and pass those discounts to the consumers.


We have saved the best for the last. How about having Uncle Sam to pay for your surgery? With Flex spending plans and Health Savings Accounts or HSA that is possible. These accounts have pre-tax money put in them which could be used for Laser Eye Surgery. For example if you were to pay $4000 from your HSA account it would allow you to save $2000. Because if you made $6000 approximately $2000 would have gone in taxes and you would’ve got only $4000 in hand.Finally, a note for those people who are really creative and want to apply their mind. They could combine vision insurance discount with medical insurance coverage and use HSA spending for Lasik; literally make the entire process cost free to them.

Professional Accounting Bodies In Australia

What is an accountant? According to the Australian Accountants Directory they are, “a practitioner of accountancy or accounting, which is the measurement, disclosure or provision of assurance about financial information that helps managers, investors, tax authorities and others make decisions about allocating resources”(“About Accountants“). As you may already know, different areas of the world have different professional bodies of accounting.

For example, not every country uses the American Institute of Certified Public Accountants (AICPA). As the name suggests, that’s only used in the United States. Australia however, has three legally recognized local professional accounting bodies; the institute of public accountants (IPA), CPA Australia (CPA), and the institute of chartered accountants of Australia (ICAA).

The IPA has been around since 1923 and continues to grow in the organization today. After 90 years it currently sits more than 26,000 members and students across 64 countries and is ranked in the top professional accounting bodies in the world (“Institute of Public Accountants“). They acquired a full membership of the International Federation of Accountants (IFAC) in 2005 as well as the Confederation of Asian and Pacific Accountants (CAPA) in 2011. They are really working towards building relationships and exchanging knowledge overseas. They are innovative in everything that they do as they already are recognized as one of the top 20 in BRW’s most innovative companies in Australia list for 2012. The IPA has three levels of membership, Associate (AIPA), Member (MIPA), and Fellow (FIPA). An Associate membership requires one to have an Australian Advanced Diploma of Accounting or a Bachelor’s degree in Accounting that can be Australian or equivalent in nature. MIPA membership requires Australian Advanced Diploma of Accounting, two years of pre-IPA program full-time work experience in accounting or related fields and a mentored experience program. A FIPA membership requires 7 years’ MIPA status or equivalent and 10 years’ experience in accounting the last five years have to be at a senior level (“Institute of Public Accountants“).

According to CPA Australia, they are one of the world’s largest accounting bodies with a global membership of more than 150,000 members working in 120 countries around the world, and with more than 25,000 members working in senior leadership positions (“About Us“). They provide education, training, technical support and advocacy. They were an early entrant in the Asian Market, where their involvement began in the early 1950s and aimed at developing and strengthening the accounting profession in the region. As of today almost one-quarter of CPA Australia’s members reside outside of Australia, with over 35,000 in Asia. They currently have nineteen staffed offices across Australia, China, Hong Kong, Malaysia, Singapore, Indonesia, Vietnam, New Zealand and the UK. To become a member of this program candidates most hold a postgraduate award that is recognized by CPA Australia, and demonstrate competence in the required knowledge areas and, within a six year period, successfully complete the CPA Program (“About Us“). They must also have three years of professional experience in finance, or accounting for business. To offer public accounting services, CPAs must also complete CPA Australia’s Public Practice program, which involves distance learning and a residential component, and must hold a Public Practice Certificate in accordance with the CPA Australia’s by laws.

The ICAA is the professional body representing Chartered Accountants in Australia. They currently have over 50,000 members and 12,000 students(“News and Updates“). In order to become a member of the institute, one has to complete the Chartered Accountants Program which includes study of Graduate diploma in Chartered Accounting (GradDipCA) and three years of practical experience. Entry is available to anyone who holds an accounting degree; however, those holding non-accounting degrees can also be permitted entry after additional requirements are met. If one does become a Chartered Accountant they must complete a total of 120 hours of Continuing Professional Education every three years. The ICAA is a founding member of the Global Accounting Alliance (GAA). Members of this alliance are part of the international accounting coalition of the world’s premier accounting bodies. Chartered Accountants audit 100 percent of the top ASX-listed companies in Australia. They are recognized by the international accounting bodies of the leading financial centers of the world. As of November 2013, the ICAA merged with the New Zealand Institute of Chartered Accountants and are now known as “Chartered Accountants Australia and New Zealand”(“News and Updates“).

Compared to the professional bodies in America the ones in Australia aren’t too different judging from the research. They each go off of the same principals in a sense but there are very few minimal things that are different.

Works Cited

“About Accountants.” Australian Accountants Directory / Australian Accountants Directory / Accountants. N.p., n.d. Web. 07 Apr. 2015.

“About Us.” CPA Australia -. N.p., n.d. Web. 03 Apr. 2015.

“Institute of Public Accountants.” Institute of Public Accountants. N.p., n.d. Web. 07 Apr. 2015.

“News and Updates.” Chartered Accountants Australia and New Zealand. N.p., n.d. Web. 05 Apr. 2015.