Procurement Market Intelligence Report
Vision Insurance
Sourcing Guide & Market Intelligence
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Vision Insurance Global Overview
Definition
Summary
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.
This Report Includes:
- Eye Exams
- Vision-Related Procedures
- Group Vision Insurance
Not in this Report:
- Group Health Insurance
- Group Dental Insurance
- Life Insurance
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Global Vision Insurance Market - Suppliers by Region
| Country/Region | Number of Suppliers |
|---|---|
| #1 China | 355 |
| #2 United States | 250 |
| #3 Europe | 225 |
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Geography Drilldown - US
Average Cost of Vision Insurance
United States
2026 Market Pricing$2.00 to $XX.XX
per employee per monthAverage Price
Prices in the Vision Insurance market range from $2.00 to $XX.XX, depending on Level of Coverage, Number of Participants, Age of Participants and Buyer's Industry. For example, lower prices are associated with Standard plans ($30.00 to $100 per employee per year), whereas higher prices are associated with Comprehensive plans ($110 to $240 per employee per year).
Need the scoop on international price trends?
Between our Europe and Canada collections, we provide price data for 350 markets so you can instantly compare prices across borders. Or, use our custom research services for intel on prices in any region across the globe.
Vision Insurance Category Price Trends
Pricing trends are indicated by the compound annual growth rate (CAGR) during a set period of time. For the Vision Insurance market, prices in the US have grown 0.5% from 2022 to 2025. Subscribers can access price trend forecasts, price driver projections and forward-looking cost structure data. Learn more
United States (2022-2025)
United States (2025-2028)
Compound Annual Growth Rate
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Price trend forecasts are available to subscribers, along with price driver projections and forward-looking cost structure data.
Cost Analysis - Total Cost of Ownership for Vision Insurance
Total cost of ownership is Low in the Vision Insurance market. The average cost of ownership differs depending on the contract but generally includes costs negotiated before the contract begins, costs billed during the contract period and unforeseen costs. For example, unforeseen costs in the form of Emergencies may raise the total cost of ownership unexpectedly.
Negotiated Before
Other Fees
Billed During
Additional Fees
Annual Fees
Training
Unforeseen
Emergencies
Buyer Power in Procurement Negotiations
In 2026, buyer power amounts to -0.2 in the United States. Buyer power is most positively impacted by Forecast Price Trend. It is most negatively impacted by Recent Price Volatility. Subscribers can access details on eight other factors that impact buyer power. Learn more
United States
Buyer power forecasts: your glimpse into the future
Develop strategies for the upcoming year and identify unforeseen opportunities for buying now
- Actionable "Buy Now" and "Buy Later" insights
- Near-real-time updates to current and forecast Buyer Power Scores
- Methodology and weightings for Buyer Power Score Components
Supply Chain Risk
The average level of supply chain risk is assessed as Medium, which has a negative impact on buyer power. The level of supply chain risk is affected by industry volatility, barriers to entry, competition, import penetration, regulation and industry financial risk. Buyers in this market can mitigate procurement and supply chain management risks by monitoring risk levels for individual first and second tier suppliers:
1st
Tier Suppliers
- Custody, Asset & Securities Services Providers
- Portfolio Management Firms
- Copier & Office Equipment Wholesalers
- Computer & Packaged Software Wholesalers
- Reinsurance Carriers
2nd
Tier Suppliers
- Securities Brokerage Providers
- Computer Peripheral Manufacturers
- Insurance Brokers & Agencies
Biggest Vision Insurance Suppliers in the US by Revenue
The largest Vision Insurance vendors by revenue in the US are Humana Inc., Aflac Inc. and Cigna Corp. Subscribers can sort and filter by market share concentration, profit level and other factors. Learn more
| Supplier | Operational Size | Headquarters | Number of Employees | Market Share (%) | Market Share Performance (3yr trend) | Total Revenue ($ million) | Profit Level (%) | Risk Level |
|---|---|---|---|---|---|---|---|---|
| Essilorluxottica | Global | Paris, FR | >10,001 | 10-15 | ||||
| VSP Global | Global | Rancho Cordova, CA | >10,000 | 25+ | ||||
| Unitedhealth Group Incorporated | Global | EDEN PRAIRIE | >10,000 | 5-10 | ||||
| Metlife, Inc. | Global | New York | >10,000 | 5-10 | ||||
| Cvs Health Corporation | National | WOONSOCKET, RI | >10,000 | < 5 | ||||
| Cigna Corp | Global | BLOOMFIELD | >10,000 | < 5 | ||||
| Humana Inc. | National | LOUISVILLE | >10,000 | < 5 | ||||
| Aflac Inc. | Global | COLUMBUS, GA | 1,001-10,000 | < 5 | ||||
| Highmark Inc. | National | Pittsburgh, PA | >10,000 | < 5 | ||||
Looking for a list of suppliers by country?
Subscribers can access vendor information on Canadian and European suppliers, too. We also offer custom research services to help with vendor sourcing anywhere in the world.
Profit Analysis
The average profit margin across vendors in the Vision Insurance market is 9.1% and steady. Profit levels shift depending on suppliers' spend on wages, purchases and overhead. The highest cost component for vendors is Overhead. The cost trend for this component is falling, when considering movement between 2025 and 2026. To understand cost forecasts for 2027 and uncover the implications on profit, start your subscription. Learn more
Vendor & Supply Chain Analysis
There is a high market share concentration in the market for vision insurance, with VSP and Essilorluxottica (EyeMed) dominating the market. The top four vision insurance providers account for over 45.0% of total market revenue, which reduces buyers ability to negotiate lower premiums.
Vision insurance providers possess moderate financial risk, slightly increasing the likelihood of insurer bankruptcy. Most large insurance companies; such as CVS, MetLife, and Aflac; are at less risk of default as compared to smaller insurers in the market.
Supply chain risk is moderate for vision insurers. However, even though changes in certain inputs may yield changes in premiums, these risks rarely affect the availability of vision insurance policies.
The United States is a net importer of computers, which play a relatively important role in the operations of vision insurers. While insurers benefit from procuring computers at lower costs from foreign countries, these purchases do not have a significant impact on the market for vision insurance because of its service-based nature.
Supplier Information
Essilorluxottica
Essilorluxottica is a public company operating globally in the manufacturing and finance & insurance sectors. The company's offerings include safety eyewear and vision insurance. Founded in 2018, the company is currently headquartered in Paris, France with an estimated employee count of over 10,000. Subscribe to learn more
VSP Global
VSP Global is a private company operating globally in the finance & insurance sector. The company's offerings include vision insurance. Founded in 1955, the company is currently headquartered in Rancho Cordova, California, United States of America with an estimated 10000 employees. Subscribe to learn more
Metlife, Inc.
MetLife, Inc. is a global financial services company providing insurance, annuities, employee benefits, and asset management. It sells its products to corporations, other institutions, their respective employees, and individuals through a direct sales force and intermediaries. Its primary markets include Subscribe to learn more
Unitedhealth Group Incorporated
Unitedhealth Group Incorporated is a public company operating globally in the finance and insurance, professional, scientific and technical services and healthcare and social assistance sectors. The company's offerings include flexible spending account management services, healthcare consulting services, Subscribe to learn more
Aflac Inc.
Aflac Inc. is a public company operating globally in the finance and insurance sector. The company's offerings include life insurance, disability insurance, vision insurance and group dental insurance. Founded in 1955, the company is currently headquartered in COLUMBUS, Georgia, United States of America with... Subscribe to learn more
Cigna Corp
Cigna Corp is a public company operating globally in the finance and insurance sector. The company's offerings include flexible spending account management services, pharmacy benefit management services, group health insurance, disability insurance, vision insurance. Founded in 1792, the company is currently... Subscribe to learn more
Cvs Health Corporation
Cvs Health Corporation is a public company operating nationally in the manufacturing and finance and insurance sectors. The company's offerings include personal paper products, pharmacy benefit management services, group health insurance, disability insurance, vision insurance. Founded in 1963, the company... Subscribe to learn more
Guardian Life Insurance Co Of America
Guardian Life Insurance Co Of America is a private company operating internationally in the finance & insurance sector. The company's offerings include life insurance, vision insurance and group dental insurance. Founded in 1860, the company is currently headquartered in New York, New York, United States Subscribe to learn more
Highmark Inc.
Highmark Inc. is a private company operating nationally in the finance & insurance sector. The company's offerings include group health insurance, vision insurance and group dental insurance. Founded in 1977, the company is currently headquartered in Pittsburgh, Pennsylvania, United States of America with... Subscribe to learn more
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Procurement Management KPIs for the Vision Insurance Market
Managing vendor performance throughout the contract period is easier when tracking specific key performance indicators (KPIs). For example, buyers should monitor Average Order Value and Average Resolution Time. Buyers may experience better performance throughout their contracts if they establish service level agreements (SLAs) based on Security and other factors.
| KPI | Level of Importance (1-5) | Measurements | Key Considerations |
|---|---|---|---|
| Average Order Value |
|
Total revenue Number of clients |
The average order value represents the revenue generated from the average order. The average order value can be used to assess a company’s ability to insure large corporations. |
| Average Resolution Time |
|
Total resolution time Number of resolved tickets |
The average resolution time represents the average amount of time it takes to resolve a support ticket. The average resolution time can be used to determine a company’s support responsiveness and ability to process claims effectively. |
|
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Questions to Ask During Procurement Negotiations
How can I gain leverage during negotiations?
Customer Service
Do you have a list of former clients I could contact?
Have you had any major complaints from customers in the past?
Financing
How do you arrive at the policy premiums you charge clients?
Do you charge any additional fees to clients?
Staff Turnover
What qualifications do you look for when hiring new employees?
How do you retain qualified employees?
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Vision Insurance RFP Guidelines
What should my RFP include?
Organizational Overview
Buyers should give an overview of their organizations, including the number of employees, location(s), and type of ownership.
Buyers should give a brief overview of their current vision plan's benefits and rates, as well as the number of employees that are currently enrolled in the plan.
Statement Of Need
Buyers should list the minimum benefits the plan should offer to participants.
Buyers should outline other services the insurer must provide (e.g., mailing ID cards, preparing monthly claims reports, etc.).
Project Budget
Vendors should include a proposed schedule outlining premiums and benefits.
Buyers should outline any other costs for which insurers are responsible (e.g., mailing).
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Our Reports include:
- Opportunity assessment
- Market dynamics
- Recent developments
- Positive and warning trends
- Buyer power levers
- Price environment and market pricing
- Geographic wage rates
- Global market updates
- Total cost of ownership
- Cost structure benchmarks and analysis
- Supply chain and vendors
- Global supplier breakdown
- Market share concentration
- Regulation and business requirements
- Vendor management and KPIs
- Sourcing strategy guidance
