What Is Vision Insurance?
Vision coverage helps pay for routine eye care expenses like:
- Preventative vision care
- Contact lenses
Essentially it covers expenses related to your vision that aren't directly related to health issues but things like corrective eye surgery may also be partially covered depending on the plan. If your optometrist finds an issue that causes him to refer you to a doctor, that would then fall under the umbrella of your health insurance. This may not seem like much in the way of coverage, but keep reading to find out some of the benefits of offering vision coverage.
Who Needs Vision Insurance?
Everyone can benefit from a visit to the optometrist, and even if you've never had issues with your eyes that certainly won't always be the case. Modern employees are often expected to spend long amounts of time staring at a computer screen and this can cause issues with eyesight to pop up much earlier in life than they would otherwise. On top of this many people who think their eyes are perfectly fine should really be wearing glasses.
Spending long amounts of time staring at a screen or reading with undiagnosed vision issues can lead to unpleasant symptoms such as headaches and nausea and can also make it difficult to focus on what you're reading. Needless to say issues like this will lead to productivity loss in the workplace, and that's just another reason why offering vision coverage is important
Offering Vision Insurance For Your Employees
By offering your employees vision coverage you allow them to take a proactive role in caring for their eyesight. Not only is it good for the employee, it's good for your business as well. A study released by HCMS group found that companies who offer their employees vision benefits saved $5.8 billion over the course of 4 years. The primary cost-savings were seen due to lower healthcare costs, increased productivity, and lower employee turnover rates.
Another interesting fact that you can glean from the HCMS Group study is that in many cases eye doctors are the first to diagnose chronic diseases such as diabetes, hypertension, and high cholesterol. The sooner you diagnose chronic issues like diabetes and hypertension the easier (and cheaper) they are to treat so these diagnoses likely contribute to the high level of savings associated with vision coverage.
Offering a competitive benefits package is vital for the modern business, and voluntary benefits like vision often rate very highly with job seekers. In fact, 4 out of 5 employees say they would prefer more or better benefits to a pay raise. Navigating your way through the complicated world of employee benefits isn't easy, that's why you need a partner with knowledge and experience.
At Summerlin-Roberts we can help you develop your benefits package and please your employees while attracting new hires. Please contact us today to learn more about our voluntary benefits and how they can benefit your business.