5 Ways to Save Money on Prescription Eyeglasses
Key takeaways:
Buying prescription eyeglasses from online retailers can be cheaper than getting them from traditional retail eyewear stores.
Vision insurance can be helpful for saving on prescription eyeglasses.
You can use special tax-advantaged FSAs and HSAs to budget for prescription eyeglasses.
Have you noticed that it’s becoming more difficult to read texts on your phone or to make out small print in books? If so, the reason may be an age-related condition known as presbyopia, which typically starts after the age of 40 and makes it harder to read or see details up close. Nearly 128 million people in the U.S., mostly women, have presbyopia.
Treatment for the condition can include eye drops, contact lenses, or even surgery. Still, prescription eyeglasses are the most common treatment used to make vision clearer. Prescription glasses can be expensive, but there are ways you can save money so that they don’t break the bank.
What is the average cost of prescription glasses?
Prescription eyeglasses are specific to an individual’s particular vision needs. For instance, if you have an astigmatism or experience double vision, you will need glasses that are specially made to address that problem.
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Because of this, prescription glasses can be expensive. According to a Consumer Reports survey, the median cost of eyeglasses ranges from less than $100 to more than $400 without insurance, depending on the retailer. High costs are a top reason people delay getting glasses or other vision services, according to a March 2022 Kaiser Family Foundation poll.
How to save money on prescription eyeglasses
Below, we review five ways to save money when shopping for prescription glasses.
1. Buy prescription glasses online
One study found that cost is a main reason people choose to buy prescription eyeglasses over the internet. Consumer Reports found in a 2019 survey that online buyers spent less out of pocket for prescription glasses, paying a median of $91 online, compared to $234 in-store.
Buying online tends to be cheaper because online retailers typically cut out the middleman and sell directly to customers. If you plan to buy prescription glasses online, here are some tips that can make the process easier:
Find retailers that let you try on glasses at home. Many online retailers will ship you a number of frames to try on at home before you choose which one to purchase. Some companies allow you to upload a photo of yourself and try on glasses virtually.
Review return policies. Online companies often offer free shipping and returns.
Get a current prescription. When buying new glasses, your prescription should be no more than two years old. (For kids, it should not be more than a year old.) You can go to an eye doctor of your choice to get a lens prescription to submit with your order. Some online retailers offer eye exam services through local retail locations, while others allow you to take an exam online if you’re not experiencing any eye problems or conditions.
Even online, eyewear retailers offer a variety of lens types. Single-vision lenses can be used to correct one eyesight problem, but more complicated eye needs often require progressive lenses. These types of lenses have multiple prescription strengths in one lens, so they are usually more expensive.
Are glasses tax deductible? If your insurance doesn’t cover the entire cost of your eyeglasses or you don’t have insurance, you may be able to deduct your out-of-pocket costs on your tax return. Learn more about how to claim this deduction.
Pros and cons of vision insurance: What does it typically cover, and how much can you expect to pay? Here’s how to decide whether vision insurance is worth it.
Using your FSA or HSA: If you have a prescription from your doctor, you can use your FSA or HSA to cover many types of prescription glasses, as well as other eye care expenses. Read on to see what’s eligible — and what’s not.
2. Compare prices, discounts, and promos
When shopping around, compare prices at online and physical stores. Also, look out for deals that could help you get lower prices.
Sellers offer sales and special discounts at various times during the year. You can also ask about special promos like referral rewards and discounts for teachers, students, military personnel, and first responders.
Here are a few questions to consider when shopping for prescription eyeglasses:
Are discounts available online or in-store?
How long is the promotion period?
What is the starting price for frames?
Can you receive a discount if you buy two or more pairs of prescription lenses?
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Promotions and discounts vary by retailer and may change at any time. It’s important to do your research and call retailers to confirm information you may find online.
3. Use your HSA or FSA to buy prescription glasses
It is also possible to save on prescription glasses using health savings accounts (HSAs) and flexible spending accounts (FSAs). They can help when budgeting for qualified vision-related expenses, including:
Eye exams
Eyeglass cases
Eyeglass cleaning cloths
Eyeglass repair
Eyeglass repair kits
Reading glasses
Bifocals
Progressive multifocals
FSAs are tax-exempt accounts sponsored by your employer. Pretax dollars are automatically deducted from your paycheck and deposited into your FSA. These accounts are far less flexible than HSAs because of their “use it or lose it” feature, which means you have to use the funds by a certain date to maximize your FSA benefits.
By comparison, HSAs allow you to carry over pretax funds from year to year. So if you don’t use your HSA dollars to buy prescription glasses this year, you can save the money to make the purchase in the future. HSAs can only be used when attached to high-deductible health plans (HDHPs).
4. Sign up for a vision plan and use its discounts
Vision insurance plans are another way to save on prescription eyeglasses, since traditional medical insurance — including Medicare — doesn’t usually cover regular eye check-ups or new prescription eyeglasses. Vision insurance plans usually include allowances for frames and lenses.
Vision insurance is provided through major insurers as well as through vision-specific insurance companies.
Vision insurance, like health insurance, isn’t accepted everywhere and plans have in-network and out-of-network providers. So check with retailers about which vision plans they accept.
5. Take advantage of BOGO glasses discounts
If you’re looking for discounts on glasses, you might consider buying more than one pair. Check for retailers offering buy-one-get-one deals or other discounts for buying multiple pairs. Oftentimes, these special promotions are for a limited time, so make note of the end date of any deals you see advertised.
The bottom line
Buying prescription eyeglasses can be expensive, often costing several hundred dollars. But there are ways to save, whether you have vision insurance or not. Consider buying prescription glasses online, setting aside money in an FSA or HSA, looking for special deals and promotions, or signing up for a vision insurance plan. Together, these tips can help you see your savings — and your next text — more clearly.
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References
39DollarGlasses.com. (n.d.). What are single vision lenses?.
American Optometric Association. (2022). Meeting the needs of an aging America.
Brasler, K. (2020). Should you buy glasses and contacts online?. Consumers’ Checkbook.
Consumer Reports. (2021). Eyeglass & contact lens stores.
Grzybowski, A., et al. (2020). A review of pharmacological presbyopia treatment. Asia-Pacific Journal of Ophthalmology.
HealthCare.gov. (n.d.). People with coverage through a job: Using a flexible spending account (FSA).
Katz, J. A., et al. (2021). Presbyopia- A review of current treatment options and emerging therapies. Clinical Ophthalmology.
Medicare.gov. (n.d.). Eyeglasses & contact lenses.
Montero, A., et al. (2022). Americans’ challenges with health care costs. Kaiser Family Foundation.
Porter, D. (2021). What is prism correction in eyeglasses?. American Academy of Ophthalmology.
Sivak, A. M., et al. (2020). Patient views about online purchasing of eyewear. Ophthalmic & Physiological Optics.
The Vision Council. (2021). The Vision Council releases Visionwatch Q4 2020 Market research reports.
