Definition: Insurance will cover LASIK. What does this mean? It means that if you have your laser eye surgery, and it goes wrong or is not successful, your medical bill can be covered by insurance. A "LASIK" is a surgical procedure used to correct myopia (short-sightedness) or astigmatism (see distance). If I lose sight in one eye, the LASIK eye will look straight forward. But if I have astigmatism and the LASIK eye is too wide at one end, it may look curved. Insurance coverage for LASIK surgery can be very helpful if you want to correct your vision with surgery and your insurance company will cover the cost of the procedure. So if you had LASIK done, and things did not go as planned, your medical bill would be covered by your insurance company.