How to Finance Elective Surgery

Surgery is expensive. Fortunately, most people have health insurance to cover the cost. Insurance policies pay for pre-operative care, post-operative care and any other surgery-related expense. But in the case of elective surgery, insurance companies are selective. They'll cover some elective surgeries. However, if you want to have a cosmetic surgery such as breast augmentation, tummy tuck or face lift, you'll have to arrange your own financing.

Instructions

• 1

  Check to see whether your insurance policy covers elective surgeries. There are two different types of elective surgeries. A person can have a medical condition that causes severe back problems and elect to have surgery to correct the condition. Although this isn't a medical emergency, insurance companies will pay the expense because it's a genuine health issue. On the other hand, if a person elects to have surgery to improve her physical appearance, insurance companies do not cover the expense.

• 2

  Apply for plastic surgery financing. If you need money to pay for an elective cosmetic surgery, look for a plastic surgery loan. Finance companies such as Surgery Loans specialize in cosmetic loans, and they'll provide you with the cash to pay for procedures such as breast enlargement, nose surgery, breast reduction and liposuction.

• 3

  Establish a payment plan with the doctor or hospital. Some physicians and hospitals are prepared to set up a payment plan. You're required to pay a specific amount each month, and some facilities offer no-interest for the first six to 12 months. Doctors and hospitals may conduct a credit check and request a down payment.

• 4

  Use a credit card. If you have a low-interest or zero-interest credit card, use it to pay for your elective surgery. Before swiping the card, devise a payoff plan. That why, you won't be stuck with the debt for years.

• 5

  Take advantage of home equity options. There are benefits to home ownership. And if you have substantial equity in your property, apply for a cash-out mortgage refinance or home equity loan and use the money to pay for your elective surgery. These loans have low fixed rates. Therefore, the interest rate is lower than surgery loans and most credit cards.