Cosmetic surgery covers a wide range of procedures from Botox and fillers to a facelift and liposuction. While cosmetic procedures can give a person a refreshed and rejuvenated appearance, cosmetic surgery can cause a bank account to have a less than full and healthy look. Health insurance rarely covers the cost of cosmetic surgery because cosmetic procedures are often not considered to be medically necessary. However, there are times when health insurance will cover a cosmetic procedure if it is performed to address issues that are the result of birth defects, trauma or an injury. Since cosmetic surgery is usually not covered by health insurance, patients will have to pay for the surgery on their own. While some patients often pay for the entire surgery out of their back account, there are other patients that finance their cosmetic surgery in a variety of ways that are discussed below.
Patients that finance their cosmetic surgery procedures are looking to pay for the treatment over a period of time. In order to determine the best option to pay for the procedure, patients should consider the following options:
If patients are unable, or not willing, to try any of the cosmetic surgery financing options listed above, there are other choices available to them that might be less financially sound:
The idea of financing cosmetic surgery is tempting because it allows patients to pay for the surgery over time instead of all at once. Anyone interested in financing a cosmetic surgery procedure should take the time to consider the decision because paying for cosmetic surgery is not something that should be entered into lightly.
Don’t rush into the decision in the office of the doctor. Patients should take a closer look at their financial situation to make sure they can afford the procedure or handle the financial commitment of a loan. Taking the extra time to make sure this is a financially sound decision can save a person from crushing debt.
In addition, patients can set aside some money to see if they can afford the commitment of paying off a loan. They should determine how much the monthly payments will cost and set aside that monthly amount for two or three months. If the monthly payments are easy to handle, this can give patients the confidence they need to take out a loan without the monthly payment making a big dent in their budget. In addition, setting aside the monthly payments for a test run means patients will already have money to use as payments on their loan.