Since most plastic surgeries are considered to be elective in nature, health insurers typically do not pay for them. For this reason, financing is one of the key considerations for patients who are planning to undergo this type of treatment. Costs can easily run into thousands or even tens of thousands of dollars, and taking care of these from out of pocket is obviously not a walk in the park for everyone. Fortunately, though, many plastic surgeons offer or support financing arrangements that can make it easier for you to afford the procedure.
1. Surgeon-financed payment plans
Some plastic surgeons may offer a payment plan where you can have the surgery first and then pay for the procedure by contributing small installments over a duration of time. These payment plans – where available – often do not attract an interest rate. This makes it a great option for patients who currently don’t have the funds and would like to benefit from the surgery and pay for it later without attracting interest rates. It is important to note though that you may have to deal with a debt collector if you fail to pay. Since the majority of plastic surgeons want to focus on the treatment, not the financing, they do not offer this type of in-house financing.
2. Medical credit cards
This is a common method used for financing plastic surgery procedures in Baton Rouge LA and elsewhere. Medical credit cards attract an annual interest rate. Third-party providers usually make this type of financing available by partnering with the plastic surgeon. CareCredit is one of the most established medical credit card providers in the US. Once you have the surgery, you’ll be expected to pay back in regular installments. A disadvantage of this financing option is that it attracts a very high annual percentage rate. You may also be required to incur hefty late fees if you deviate from the provided payment plan.
3. 0% APR credit cards
You may also be able to use your credit card to pay for your selected plastic surgery procedure. But an inherent drawback of this financing option is that credit cards attract very high-interest rates. However, you may be able to overcome this issue by selecting a card that offers a 0% APR introductory offer. This is usually possible for people who have a pretty good credit score. The offer can run for nearly 2 years, which means that qualified individuals might be able to pay for the plastic surgery using the card but without incurring interest rates (at least over a duration of time).
4. Personal loans
If the options covered above do not make sense for you, you still might be able to get an unsecured personal loan to pay for your cosmetic surgery. The amount loaned may range from 1,000 dollars to 50,000 dollars. These loans often have a structured annual percentage rate and are serviced via monthly installments. People who have a good credit score might be able to secure a loan at a discounted APR. One of the best pros of this method is that it allows you to distribute the cost of your plastic surgery treatment over a duration of time.
5. Patient savings
If you are unwilling to work with third-party lenders for one reason or the other, choosing to save up in advance is the logical choice. Once you figure out exactly how much your cosmetic surgery is going to cost, you can segment the total cost over a period of time and build up your savings. If you are willing to wait it out, you would be able to pay for your procedure but without incurring any interest. A drawback is that this financing option may not make sense for people who require surgery a bit more urgently.
Whatever option makes the most sense for you from the options above, you are welcome to go with it. To start with, however, make sure you figure out exactly how much your Baton Rouge plastic surgery costs. During your initial consultation visit to Erick Sanchez Plastic Surgery in Baton Rouge, the surgeon’s office will provide an individualized cost estimate so you can make arrangements for financing.