7+ ways to pay for LASIK eye surgery in 2018 | finder.com
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How to finance LASIK eye surgery

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Finance your eye surgery so you never shell out for contacts again.

Paying for contacts, new glasses, yearly visits to the optometrist — it adds up. Getting laser eye surgery can save you a pile of money in the long run. But getting together the money to cover the immediate cost isn’t always that easy. Almost all insurance providers consider it an elective procedure so it isn’t always covered. And even if it is, it’s usually only partial.

We break down your financing options and costs of LASIK eye surgery to make your payments more manageable.

Credible Personal Loans

Our top pick: Credible

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  • Minimum Loan Amount: $1,000
  • Maximum Loan Amount: $100,000
  • Loan Terms: 2–7 years
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  • Must have good to excellent credit

    Can I pay for LASIK eye surgery with a personal loan?

    Yes. A common reason borrowers take out personal loans is to pay for medical procedures that aren’t covered or only partially covered by insurance.

    Some personal loan providers also offer financing specifically designed to cover the cost of medical procedures. Often healthcare providers have partnerships with lenders to offer financing packages to patients. When looking for a loan, check with your LASIK center to see what types of financing they offer in addition to other personal loans.

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    Rates last updated November 13th, 2018

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    Unfortunately, none of the personal loan providers offer loans for that credit score. If you are in urgent need of a small loan, you might want to consider a short term loan.
    Name Product Product Description Min. Credit Score Max. Loan Amount APR
    Monevo Personal Loans
    Quickly compare multiple online lenders with competitive rates depending on your credit score.
    550
    $100,000
    3.34% to 35.99%. (fixed)
    Credible Personal Loans
    Get personalized rates in minutes and then choose a loan offer from several top online lenders.
    Good to excellent credit
    $100,000
    4.99%–36% (fixed)
    SoFi Personal Loan Fixed Rate (with Autopay)
    No fees. Multiple member perks such as community events and career coaching.
    680
    $100,000
    6.99% to 14.87% (fixed)
    Marcus by Goldman Sachs Personal Loans
    Consolidate your debt or pay off large expenses with competitive rates and no fees.
    Good to excellent credit
    $40,000
    6.99% to 24.99% (fixed)
    Avant
    Conveniently check your loan options without affecting your credit score.
    580
    $35,000
    9.95%–35.99% (fixed)
    Even Financial Personal Loans
    Get connected to competitive loan offers instantly from top online consumer lenders.
    580
    $100,000
    4.99%–35.99% (fixed)
    NetCredit Personal Loan
    Check eligibility in minutes and get a personalized quote without affecting your credit score.
    550
    $10,000
    34%–155% (Varies by state) (fixed)
    LendingClub Personal Loan
    A peer-to-peer lender offering fair rates based on your credit score.
    660
    $40,000
    6.95% to 35.89% (fixed)
    OneMain Financial Personal and Auto Loans
    An established online and in-store lender with quick turnaround times. Poor credit is OK.
    Varies
    $30,000
    16.05%–35.99%* (fixed)

    Compare up to 4 providers

    How much does laser eye surgery cost?

    Typical LASIK procedures can cost anywhere between a couple hundred to a couple thousand dollars per eye, though the average cost ranges from $1,500 to $2,500 per eye. This generally depends on what type of procedure you have. Here’s how they break down:

    Type of surgeryAvg cost for both eyes
    LASIK with blades$3,000
    Bladeless LASIK$4,000
    Custom LASIK$4,000
    PRK$4,000
    Lasek$3,000–$5,000
    EpiLASIK$3,000–$5,000

    Some insurance companies partially subsidize the cost of LASIK surgery, however. Large vision providers like Blue Cross Blue Shield, Davis Vision, EyeBenefits, Aetna and VSP often offer discounts of up to 50% off the procedure.

    How else can I pay for LASIK eye surgery?

    You don’t necessarily need to take out a personal or medical loan to cover your LASIK costs. Here are some of your other options:

    • A new credit card. If you qualify for a new credit card with a 0% intro APR, you might want to consider getting one to cover at least part of your LASIK costs — as long as you’re able to pay off your balance before the intro period is up.
    • Save up. LASIK typically doesn’t cost more than $5,000 for both eyes and it’s not an urgent procedure. If you can deal with glasses and contacts for a little while longer, consider opening up a high-interest savings account and making monthly deposits toward your LASIK surgery periodically.
    • Use your tax refund. Your tax refund might not be enough to cover the entire cost of the surgery, but it could put a big dent in it.
    • Flexible spending account (FSA). Some employers allow you to put pre-tax salary into an account for out-of-pocket health care.
    • Health savings account (HSA). If you’re covered by a high deductible health plan (HDHP) at work, you may be able to set tax-free money aside in an HSA to pay for LASIK surgery.
    • Discounts through your employer. Some LASIK companies have deals with large employers to provide discounted procedures. If you work for a large company, ask your HR department or benefits manager if a discount is available.
    • Healthcare credit cards. Cards like CareCredit offer financing designed to make medical expenses easier to pay for, though they can come with high interest rates.
    • Ask friends and family. LASIK isn’t an incredibly expensive procedure, so your friends and family might be willing to loan you the money you need without interest.
    • Enter a contest. Some LASIK centers have contests awarding the winner free laser eye surgery. Just make sure it’s with a reputable surgeon before entering.

    5 tips for choosing a LASIK surgeon

    The last thing anyone wants is to have their LASIK procedure botched by a surgeon with a poor track record — or no track record at all. But you might wind up paying more than necessary if you go by reputation alone. Consider these key factors when deciding on a surgeon.

    1. Technology. Does your surgeon use up-to-date technology? You can usually find this information by calling or visiting their practice’s website.
    2. Experience. Look for a surgeon who specializes in laser eye surgery and has a long track record.
    3. Certification and licensing. Check to make sure your surgeon is both licensed to practice in your state and board-certified.
    4. Staff. Is the staff easy to reach and able to answer questions? Are they willing to put you in touch with your surgeon if needed?
    5. Reviews. What do past patients have to say? One bad review doesn’t mean anything, but consistent complaints could mean you should stay away.

    Fun fact

    Did you know LASIK stands for “laser-assisted in situ keratomileusis”? That’s the medical name for this vision-correcting eye surgery procedure.

    Bottom line

    LASIK eye surgery doesn’t have to be a huge one-time expense. Personal loans and financing from your medical provider can make paying for your eye surgery a lot more manageable. While you might spend a little extra in interest, the amount you save on contacts and glasses might make it worth it. Get started by asking your surgeon about financing options and checking out our personal loans guide.

    Frequently asked questions

    Anna Serio

    Anna Serio is a staff writer untangling everything you need to know about personal loans, including student, car and business loans. She spent five years living in Beirut, where she was a news editor for The Daily Star and hung out with a lot of cats. She loves to eat, travel and save money.

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    2 Responses

    1. Default Gravatar
      SandraAugust 27, 2018

      Can my husband and I apply for my cataract LASIK HD surgery together as his credit score is a little higher than mine? Can we include the coinsurance portion in the loan amount or is that portion required to be paid in cash separately?

      • finder Customer Care
        CharisseAugust 31, 2018Staff

        Hi Sandra,

        Thank you for reaching out to finder.

        If you are considering taking out a personal loan to finance your LASIK HD surgery, you and your husband can apply for a joint personal loan. The lenders will consider both of your credit scores in assessing your eligibility. You can also include the amount you need to pay for coinsurance in deciding the loan amount you want to borrow however, it is still up to the lender to decide how much loan amount they will approve you for.

        Hope this helps.

        Cheers,
        Charisse

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