Group Vision Insurance in NJ
Does Your Medical Insurance Cover Vision Care for Your Employees?
Not all medical insurance policies cover vision care. Employers can use group vision insurance as a way of offering employees an additional perk and ensuring that their health plans are comprehensive.
What Is Group Vision Insurance?
Every seven minutes, one person in the US becomes visually impaired or blind. Companies, therefore, need to offer their employees vision coverage should they join the millions of people who receive regular care for their eyes.
Group vision insurance is a special kind of vision insurance that costs less money per employee than if employees paid individual vision insurance premiums. Companies sign up many employees to a single policy, and in return, the insurance carrier lowers the overall cost. This setup makes it cheaper for firms to offer prospective and existing workers additional benefits.
Why Is Group Vision Insurance Cheaper?
Group vision insurance cuts the costs of coverage for the insurer through bulk discounts by taking out multiple policies with the same carrier and because it reduces risk.
Risk is mitigated for the insurer as there is less overall risk of claims or the need for visual treatment among a group as compared to an individual. The reduced risk results in lower premiums.
Preferential relationships between insurers and vision care providers also keeps costs down. Insurers agree with healthcare providers that they will automatically forward employees on group vision policies to their clinics. Vision care providers benefit from this arrangement, and so they compensate the insurance firm by charging lower fees. The insurer can then pass on these savings to employers.
Single vs. Group
When a single person signs up for a vision insurance policy, the carrier might make money if the person doesn’t make any claims, or lose money on the policy, encouraging them to put up the price.
What’s Covered By Group Vision Insurance?
You can customize group vision insurance to the needs of the people in your organization, but in general, New Jersey group vision insurance covers:
- Routine eye exams
- Eyeglass lenses
- Frames (up to a specific value)
- Contact lenses
Some vision insurance also covers corrective techniques, like laser eye surgery.
Americans With Glasses
Find The Right Group Vision Insurance For Your Organization
When you have a great group vision insurance policy in place at your firm, you can resolve eye-related issues quickly, make your company a more attractive place to work and boost employee morale.
At Central Jersey Insurance Associates, we help you find the right vision insurance coverage for your needs. We’re not an insurance carrier, so we we’re not committed to selling a specific product. Instead, we’ll help you search the market to find the vision coverage that you need.
