 Personal Finance PowerPoint Presentation Vision Insurance Companies Prepare to get financially fit by practicing personal finance. Insurance is part of our long-term risk mitigation strategy where we follow the adage of measure twice cut once, putting a formal process in place, which might look something like set the insurance goals, develop a plan to reach them, put the plan in action, review the results, repeat the process periodically. Most of this information can be found at Investopedia, Best Vision Insurance Companies, which you can find online. Take a look at the references, resources, continue your research from there. This was by Allison Bethel, updated May 20th, 2022. Now note, we're gonna go over a couple insurance companies that you can start your research with. We are not affiliated with any of these insurance companies, although Investopedia may be, this is just to get an idea of where you might wanna jump off from if you're looking into investigating, comparing, and contrasting different insurance companies. You can go to Investopedia for more information. Take a look at their references and resources, and, or of course, the websites of those companies themselves to continue your research. So Best Vision Insurance Companies, according to Investopedia. Now note, we've gone over insurance in prior presentations. We talked about classical kind of insurance. We talked about the medical insurance, and then we've been going into the dental and the vision insurance, which kind of has some characteristics or components similar to the medical insurance and has some overlap in terms of what would be covered by something like the vision versus the standard medical insurance. So you might wanna take a look at that to get a better grasp or more detail as to whether or not you would want to be purchasing the vision insurance. If you've decided to purchase vision insurance, you might first look at your employer to see what they offer and then get an idea there. If you're purchasing it outside of your work or you have options within the work, then, you might wanna be visiting or checking out a few companies to do your comparing and contrasting, which is where we are at now. Vision insurance is not typically part of your health insurance plan and can include benefits such as preventative exams and ophthalmologist visits, prescription eyewear and contact lenses as we've discussed in prior presentation. Vision insurance also may give you discounts on elective vision corrective surgery. The best vision insurance companies have a variety of available plans, are easy to sign up for, have competitive premium costs and have high financial strength ratings. So the best vision insurance companies of 2022, this according to Investopedia, so you can take a look at them and take a look at the references if you wanna do more research and or check out the websites for these companies if you're kinda looking into the comparing and contrasting. Best overall, that's the VSP vision care. Best for planned options, that's the IMED. Best comprehensive coverage, Davis vision. Best for lasik surgery. So if you're looking specifically at the lasik surgery, the UnitedHealthcare. Best for contact lens users, Humana. We won't go through all of these in detail, but we'll go through it one or two possibly to get an idea of the comparisons. And then of course you can visit these websites based on the specialty that you might be considering or comparing for and or the Investopedia website. So let's first look at the VSP vision care, why we chose it. So this is Investopedia choosing this. This VSP is our top pick because it offers multiple plans with flexible coverage and costs and because it is the largest provider of vision insurance available to most people. So the big one, the big guy, the big person in the room. So this is gonna be the pros, large vision insurance in the United States. So monthly premiums start at $13, no waiting period which is nice, helpful online plan wizard. So you got the online plan, the cons, occasional complaints of reimbursement being slow and not combinable with Medicaid plans. So the vision service plan, that's the VSP was founded by a group of optometrists in 1955 and has steadily grown to more than 88 million members and 40,000 network doctors worldwide. VSP currently has thousands of private practice doctors and more than 700 vision works locations in the United States. There are options for upgrades to your lenses such as scratch resistant and anti-glare coating, progressive lenses and UV protection. VSP also provides savings and resources for those with diabetes since those with the health condition often also have declining vision abilities. One drawback for those currently on Medicaid is the VSP's benefits cannot be combined with it. That means if you wanted to use the VSP's $150 credit to pay for frames and still have $50 remaining to pay, you couldn't use a Medicaid credit to pay the remainder. You'd have to pay out of pocket. So then we have the next one, which is IMED, why they chose IMED, this being Investopedia. IMED is the best vision insurance company plan, company for plan options because it offers multiple plans with things like allowances for frames and no waiting period. The pros, we got the wide network of providers which is nice. The premium start at $5 a month which is extremely low, no waiting period which is nice, the cons baseline plan only gives a discount on frames. So you wouldn't think you'd get too much for the $5 a month possible. So the limited options for out of pocket care as the other con. So the IMED was founded in Cincinnati in 1988 and has more than 62 million members. It plans, it's plans work with major providers such as Purly, Vision, Lens Crafters and Target Optical. So the IMED maintains three tiers of insurance. The more you pay in premiums, the larger the discount you receive on frames and lenses which of course would make sense. The higher the premiums, the more kind of benefits that you might get with the premium and the lenses and so on. So each plan covers the eye exam and provides great discounts on glasses and contacts plus there is no waiting period. When you visit one of IMED's more than 100,000 in network providers, you can receive a 15% off coupon for LASIK, L-A-S-I-C, 20% off of the remaining balance of frames over $150 and 40% off additional pairs of glasses. So we won't go through the rest of them so you can do some more kind of comparing and contrasting, take a look at Investopedia, look at the company websites, do your own research, do some comparing and some contrasting.