Does the PicoSure laser help under eye bags?

PicoSure is great for many skin rejuvenations, although when doing any laser facial treatment its important and mandatory that the client wears titanium shield goggles, that being said the laser technician can only get so close to the eye, I would recommend TempSure Envi skin tightening and would start seeing results after 3-4 treatments. This is a Radio Frequency skin tightening device that is made for saggy skin and laxity, hope this helped.
LOVA -Lake Oswego Vein & Aesthetics 

The reality with facial rejuvenation procedures is "less recovery less result."
Picosure is great for pigment and tattoos, that is about it.    It is designed to "cook/burn" pigment while minimizing injury to other parts of the skin.   The laser engineers designed it to remove tattoos...without burning the skin.   The picosure does this by using super short pulses of energy which fry the pigment before heat has time to dissipate to other parts of the skin, hense the name "pico" referring to the super short pulse length which is specific for tattoo pigment.  To fix lower eyelid bags you may need a lower blepharoplasty +/- fat grafting +/- erbium laser.  An erbium or CO2 laser targets water (not tattoo pigment), which is in all areas of the skin, which is why Erbium and CO2 treat wrinkles and picosure does not.