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Vision Insurance in the US Procurement Price, Data and Insights
Vision insurance plans are similar to regular medical insurance and provide coverage and reduce policyholders' costs for routine eye exams and other vision-related procedures, such as LASIK. Additionally, vision insurers offer discounts on eyeglasses and contact lens purchases. Key buyers are businesses of all sizes and consumers.
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What’s included in this market coverage
IBISWorld's research coverage on the Vision Insurance procurement and pricing environment in the United States includes market dynamics, buyer power scores, supply chain vendors with pricing trends and forecasts.
About this Market
What’s this procurement report about?
This procurement coverage of the Vision Insurance market in the United States includes Eye Exams, Group Vision Insurance and Vision-related Procedures. Standard coding in this coverage includes ISIC-6512-Non-life insurance, NACE-65.12-Non-Life Insurance, NAICS-524114-Direct Health and Medical Insurance Carriers and UNSPSC-84131602-Health or hospitalization insurance.
What common market terminology is included?
Common market terminology included in the Vision Insurance procurement coverage includes Premium (The price of an insurance policy, paid in full one time or in installments during the length of the contract.), Deductible (The amount a plan participant must pay before their insurer will begin covering their costs. For example, if a plan has a $100 deductible, the plan participant must pay 100.0% of their first $100 of vision care costs; after that amount has been paid, their benefits will take effect.), Underwriting (The process by which insurers evaluate the potential risk of clients. Underwriting is used to determine how much insurers should charge for insurance because riskier clients come with higher costs and therefore should pay a higher premium.) and Rider (An additional provision added to an insurance policy.).
What companies are included as top suppliers?
The top companies covered in the Vision Insurance procurement report as suppliers are Guardian Life Insurance Co of America, Aflac Inc., Humana Inc., Cigna Corp and Cvs Health Corporation.
Opportunity Assessment
What’s included in the Opportunity Assessment chapter?
The Opportunity Assessment chapter provides a comprehensive market analysis of the Vision Insurance market in the United States category, including buyer power scoring, market pricing trends, vendor landscape, cost structure, and strategic negotiation levers.
The market pricing trends include the Market Price (2026) per employee per month, a five year price forecast and a supply chain risk score. Vendor coverage includes a market share and cost structure breakdown.
Analysis includes a comprehensive SWOT analysis of and recent developments impacting the Vision Insurance market environment.
Buyer Power Score
What’s included in the Buyer Power Score chapter?
The Buyer Power Score chapter assesses key components impacting Vision Insurance procurement including the recent price trend, forecast price trend, availability of substitutes, switching costs, product specialization, average vendor risk, market share concentration, supply chain risk, price driver volatility and recent price volatility.
These components generate a Buyer Power Score that ranges from -5 (strongly favoring sellers) to +5 (strongly favoring buyers) plus a recommended strategy for procurement specialists.
Price Environment
What’s included in the Price Environment chapter?
The Price Environment chapter covers detailed pricing analysis and datasets on Vision Insurance market environment. This includes insights into market pricing Market Price (2026), price forecasts, volatility, specialization, substitutes and switching costs.
Datasets in the Price Environment chapter include vendor cost structure, breakdowns of wage rates by geography and specialty, key external economic and labor drivers impacting the market and market pricing models.
Supply Chain & Vendors
What’s included in the Supply Chain & Vendors chapter?
The Supply Chain & Vendors chapter covers the concentration, risk and diversity of the Vision Insurance market. This includes datasets on the market’s top suppliers, detailed analysis on the key sourcing risks and supply chain dynamics, with environmental, social and governance (ESG) considerations and scores.
Business Requirements
What’s included in the Business Requirements chapter?
The Business Requirements chapter covers vendor relationships, qualifications, service level agreements and key performance indicators. These inputs provide insight into the planning process through the buying lead time, vendor relationship and vendor qualifications. The sourcing process include key RFP elements like an organizational overview, project budget, selection criteria, project schedule, proposal format, inventory control, cost containment, regulation, quality control, distribution and key contract clauses.
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Frequently Asked Questions
What is the current market price for Vision Insurance?
The 2026 benchmark market price for Vision Insurance is $5.2 per employee per month. Prices have increased at a CAGR of 1.59 from 2023-26.
Who are the top vendors in the Vision Insurance market?
The top vendors in the Vision Insurance market include Guardian Life Insurance Co of America, Aflac Inc., Humana Inc., Cigna Corp and Cvs Health Corporation.
What industries supply the Vision Insurance market?
The top industries supplying the Vision Insurance market are Computer & Packaged Software Wholesaling in the US, Computer Peripheral Manufacturing in the US, Portfolio Management & Investment Advice in the US, Custody, Asset & Securities Services in the US, Reinsurance Carriers in the US and Insurance Brokers & Agencies in the US.
What is the supply chain risk for Vision Insurance?
High market share concentration limits buyer negotiation leverage. The vision insurance market is highly concentrated, with the top four providers controlling over 45% of revenue, notably VSP and Essilorluxottica (EyeMed). This consolidation means buyers face limited supplier options and reduced leverage in negotiating premiums and terms. Buyers should prioritize long-term relationships and volume-based agreements but should not expect steep discounts. Exploring ancillary value, such as enhanced member services or reporting, may be more productive than pushing on core premiums.
What factors affect the price of Vision Insurance?
The level of coverage in vision insurance plans directly affects premiums, with plans offering comprehensive coverage for eye exams, corrective lenses, and procedures like LASIK generally costing more than basic plans that provide minimal benefits. For example, a plan that includes extensive coverage typically charges higher premiums and per employee rates than basic plans that only offer discounts on vision related expenses.
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