Group Vision Insurance

Round out your benefits package with Principal vision insurance.

Help your employees take control of their eye health by offering vision insurance from Principal. After all, healthy vision is an important part of employees’ overall wellness.

Group vision insurance is easy to administer and can fit all budgets. You choose from two solutions – managed care vision or scheduled vision. Both options cover services like exams, glasses and contacts.

Who pays the insurance premium?

You can choose to pay for all, part or none of the premium with Principal vision insurance. If your budget is tight, employees could pick up the entire cost of premium with voluntary vision insurance.

What is vision insurance?

Many Americans rely on glasses or contacts to see clearly. Vision insurance covers—or partially covers—preventive eye care like eye exams. Vision insurance may also reduce employees’ out-of-pocket cost for prescription glasses and contacts.

Some medical insurance covers the cost of annual eye exams. But medical insurance generally doesn’t cover prescription glasses or contacts.

Why offer group vision insurance?

It’s a digital world. For most of us, a day doesn’t go by without using our eyes to read, scan or view a smart phone, tablet, laptop or computer screen. That can lead to eye strain and potential long-term vision problems. For this reason alone, vision care is more important than ever.

Healthy vision is also an important component of overall wellness. Regular eye exams can help uncover serious health conditions, like diabetes, hypertension, high cholesterol, cancer, thyroid disorders and more.

And because vision insurance is an important part of a complete benefits package, it can help attract and retain great employees too.

How does group vision insurance work?

Most vision insurance covers the cost for routine eye exams and a portion of the cost for prescription glasses or contacts.

Some vision insurance carriers use a network of providers. And employees may need to visit a provider in that network. Or, if they chose to go outside the network, the out-of-pocket cost may be more.

Which type of vision insurance should you choose?

We offer both managed care and scheduled vision coverage options. Which is right for your benefits package?

Managed care vision—offered through Principal and VSP® Vision Care

Think of this full-service option as a health maintenance organization (HMO) for vision care. Managed care plans offer affordable care within a specified network.

Managed care vision includes:

  • An established network of VSP providers, including both independent providers and retail chains
  • Discounts and special offers on name-brand eyewear
  • Cost savings on qualifying vision procedures and screenings

Covered services:

  • Exams: Covered in full after copay
  • Prescription glasses/lenses: Covered after copay
  • Prescription glasses/frames: Covered up to a certain amount, after copay
  • Elective contacts: Covered up to a certain amount
  • Necessary contacts: Covered in full after copay

Eye exams covered by your health plan? Don’t pay twice. We offer a benefit design that covers only prescription glasses and contact lenses.

Scheduled vision1—offered through Principal

This is a reimbursement option. It covers up to a specific benefit amount that you set for each covered service or item—like exams or prescription glasses. Each selection influences the bottom line. For example, a lower set benefit amount comes with a lower premium but more out-of-pocket cost for employees. Only you can determine what’s right for your company.

Scheduled vision includes:

  • No deductibles, co-payments, or networks
  • Employees can visit the provider of their choice
  • Discounts available when using a VSP provider

Covered services:

  • Exams
  • Frames
  • Lenses
  • Contacts

These are covered up to the amount you specify when you design the coverage. For example, let’s say you set the amount the benefit design covers for an exam at $100. If an employee’s exam is $80, the full amount of the exam is covered. However, if the employee’s exam is $120, insurance covers $100, and the employee pays the remaining $20.

I’m interested in Principal vision insurance. What’s next?

Do you offer employee benefits through us?

Manage your benefits online.

Looking for a VSP vision provider?
  1. Go to principal.com/vsp
  2. Select the "choice" doctor network.
  3. Search by location, doctor, or office name.
Have questions about a claim?

Depending on which product you have, the claims process may be different. Learn about the different options for submitting a vision claim.

For questions about managed care vision, call 800-877-7195. For questions about scheduled vision, call 800-247-4695.

If you have additional claims questions check out our online help with vision insurance claims.

Learn more about building your benefits package.

Managed care vision & scheduled vision insurance: Which is right for your business?

It’s easy to see the benefit of offering vision insurance to your employees, but which insurance is right for your business?

1 Not available in all states.

This is an overview of the benefits vision insurance provides, but there are limitations and exclusions. For cost and coverage details, contact your Principal representative. Vision insurance from Principal® is issued by Principal Life Insurance Company, Des Moines, IA 50392. Managed care vision insurance from Principal is administered by VSP. Scheduled vision is administered by Principal. VSP is not a member of the Principal Financial Group®. Oregon policy GC 900-1 (0515) and GC 9000 (1013).

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