Medical financing solutions help patients afford treatments when health insurance does not cover the procedure. Most insurers do not cover elective procedures.
Many options exist for patients to borrow money to pay providers, and then repay the loan over time. Be careful to protect your income first to preserve your credit rating.
Medical financing solutions are most limited for patients seeking funds for breast enhancement surgery when they have a bad credit history, no credit, or when they are unemployed.
Options improve for patients needing to reduce their chest measurements because of medical reasons such as neck and back pain.
State-based financial assistance programs come into play frequently for parents needing emergency and elective surgical procedures.
Emergencies can happen to anyone at any time. Preparation is your best defense. Patients schedule elective procedures, which allows the opportunity to optimize health insurance and tax strategy choices.
Does your existing health insurance company or plan cover an upcoming elective surgery? If not, should you buy an individual policy that does? These important questions are difficult to answer because of the many gray areas.
The alternative is to borrow money to finance your scheduled operation. Having a 3rd party pick up the majority of expenses is far more affordable.
Most health insurance programs will not cover the costs of cosmetic surgery. They do cover reconstructive plastic surgery after an accident, mastectomy, etc.
Most patients must pay for the procedure out-of-pocket. Find several creative alternatives to traditional finance companies. You may save a bundle.
People often have a need to finance more than just elective surgery without insurance. Each type of need calls for a unique strategy.
Sometimes other non-surgical procedures are not covered. Other times patients travel overseas to reduce costs or need to use some type of home equipment. Other times they experience an emergency hospitalization and have left-over debts.
The answer to whether Medicaid covers adult eye care depends on the medical reason, the state where the patient lives, and whether an optometrist or ophthalmologist provides the service. Medicaid is more likely to pay for medically necessary vision care in all fifty states. It is less likely to pay for exams, eyeglasses, contact lenses,…
Many health insurance plans will not cover weight loss surgery that they deem as an elective medical procedure.
You may need to pay for the procedure out-of-pocket, and may not have the funding on hand. Several financing options allow you to undergo the procedure right away.
Be sure to protect your finances before signing on the dotted line.
After a surgical procedure, it may take days, weeks, or months to recover. During this time, it may be very difficult to return to work and perform the full-time duties of your primary occupation.
Short-term disability will cover your recovery provided you do not have a pre-existing condition, and the procedure is medically necessary.
LASIK eye surgery is a common procedure requiring creative medical financing solutions. Most insurance plans classify the treatment as elective or cosmetic and do not pay benefits.
Your employer’s flexible spending account may be the ideal way to pay for this procedure, as it is a qualifying expense. Time the surgery to coincide with your new plan year.