The fact that obesity is an epidemic in this country is no surprise. Luckily, surgery is now available for people who need it. One of the most popular types of surgery is the lap band. In many cases, this surgery is paid for by insurance companies. However, they may not cover everything, and some people prefer to go to an out of network (or even out of the country) provider. In that case, how can you pay for surgery?
Understanding the Cost of Surgery
Lap band surgery usually costs between $12,500 and $26,000. Sometimes, related expenses have to be added to that. This includes things such as consultations with dieticians and fitness experts, medication, supplements, and more.
Paying for Surgery
The first thing you should do is contact your health insurance provider to determine if they will cover you and, if so, how much for. If they do not cover you at all, or in full, financing options are available. In fact, there are now a number of finance companies that focus specifically on medical financing. It is important, therefore, that you compare them, their rates, and their terms and conditions.
Once you have chosen the finance company that offers the best deal for your needs, you will have to fill out an application. The company will look at your income, your credit history, and your assets to determine whether you can be approved. Usually, the monthly payments will be quite low while you continue to meet certain requirements, such as not having an income or receiving welfare.
Before you actually go to a finance company, you may want to try your credit union or bank first. They usually offer more favorable rates, and more and more now have medical loans available as well.
You may also receive financial advice from your surgeon. They sometimes have affiliations with certain finance companies, which means you could get a really good deal. This may just be the best deal out there. Again, however, it is important that you continue to compare all your options in order to find the one that is right for you.
In most cases, finance companies are quite lenient with medical loans. They often don’t require you to have a high income or a perfect credit rating. This is because they understand that your obesity is likely to prevent you from living a normal, productive life. They take a chance on you, but they believe that, once you have lost the weight, you will become a more productive, contributing member of society.
One of the reasons why this type of financing exists is because it is now understood and accepted that obesity is a disease, and that not treating this disease is far more costly on society as a whole. At the same time, it is a huge industry, and not every finance company has your best interests at heart. Hence, make sure that you look properly at all the terms and rates before agreeing to sign up.