Cataract Surgery Cost and Financing

Cataract surgery, is a procedure to remove the lens of your eye when it is cloudy and causing vision problems and replace it with an artificial lens. One of the safest and most commonly performed surgical procedures in the United States, cataract surgery is performed by an ophthalmologist on an outpatient basis with no overnight stay at a hospital.¹ During surgery your cloudy natural lens is removed and replaced with a clear artificial lens called an intraocular lens (IOL). There are differences in intraocular lenses ranging from a very basic or monofocal lens to a more advanced or premium lens that can correct astigmatism or presbyopia. Be sure and ask your ophthalmologist which lens is best for your eyes. While vision begins to improve after a few days it usually takes the eye about 8 weeks to completely heal after surgery. About 90% of patients report better vision after having cataract surgery. Below we dive into the cost of cataract surgery, if insurance covers the procedure and how cataract surgery financing can help.

How much does cataract surgery cost?

The cost of a standard monofocal lens cataract surgery is usually covered by Medicare and private health insurance. Both require vision to test at a certain level of acuity or clarity before they will cover costs. If your surgery is covered by Medicare or private medical insurance you are still likely to incur some out-of-pocket cost including your co-pay, deductible and the cost of upgrades. The average cost of cataract surgery without Medicare or private health insurance in 2019 ranged from $3,783 to $6,898 per eye.² The actual amount paid depends on various factors including the type of lens implanted, the technology used, and the surgeon’s expertise.

Are cataract surgery costs covered by insurance or Medicare?

While Medicare reimbursement for standard cataract surgery is simple and clear-cut, patients with Medicare do pay a portion of the costs for services not directly associated with their cataract procedure in addition to any deductibles and co-pays.² These costs are typically hospital or clinic fees. For example, currently Medicare patients are responsible for 20% of the fees for EKGs, comprehensive eye exams, anesthesia personnel, prescription eyeglasses and any follow-up procedures beyond post-operative care. Beyond co-pays, co-insurance and deductibles, patients with private insurance will incur the cost of any upgrades including premium IOLs and advanced surgical techniques they may opt for to reduce the need for glasses after surgery.

How can I finance and pay for cataract surgery?

If you are interested in cataract surgery and don’t have Medicare or private health insurance or if you need a way to pay for co-pays, deductibles or other out-of-pocket costs there are several payment options you can consider. If you have the funds readily available, of course you can use them. You may also be able to use a tax-free Health Savings Account (HSA) or Flexible Spending Account (FSA) to pay for the procedure. If you are interested in paying over time, it’s important to know very few ophthalmologists extend credit to patients through their practice where patients would receive bills from and pay the provider. Almost all accept general purpose credit cards and many accept the CareCredit credit card, which may be a convenient way to pay for the procedure.

Can I use my CareCredit credit card to pay for cataract surgery?

Yes. If approved, you can use your CareCredit credit card at locations within the CareCredit network to finance cataract surgery or other vision correction procedures and eyecare treatments. The benefit of using a CareCredit credit card is the opportunity to use promotional financing.* If approved, you can pay for the care you need immediately. You can also use your CareCredit card again and again to pay for other health, wellness and vision care needs. Use the Acceptance Locator or download the CareCredit Mobile App to find a cataract surgeon near you who accepts the CareCredit credit card.