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
- 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
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?