Vision Insurance Question
Hi everyone! I just got vision insurance through my job, and I noticed that the frame benefits state: “Plan pays 100%, $125 allowance, 20% off balance over $125.”
Does this mean I can select frames up to $125 without any out-of-pocket cost, or am I missing something? The wording is a bit confusing!
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Hi there! It can be a bit confusing, but here’s how it works:
The $125 allowance means that your insurance will cover up to $125 for the frames you choose. If you select frames that cost $125 or less, you won’t have to pay anything out of pocket.
If you choose frames that cost more than $125, you’ll pay the difference. For example, if you pick frames that cost $150, the insurance will cover $125, and you’ll be responsible for the remaining $25. Plus, you’ll receive 20% off that extra amount, so in this case, you’d pay $20 (20% of $25) in addition to the $125 the insurance covers.
Hope that clears things up! Enjoy your new frames!