Let’s face it: weight loss surgery is expensive. Depending on the procedure, you’re looking at at least a $10,000 investment, if not more. And that only includes the cost of the procedure: that doesn’t include the costs of all the supplements, the counseling, and the medication. Insurance covers most of the expenses associated with bariatric surgery, but what if you don’t have surgery? How do you pay for weight loss surgery without insurance?
Most of us don’t have that kind of money lying around. Despite this, bariatric surgery is an investment in a healthier, brighter future. You want to be around for your kids, for your family, and for yourself.
If you know you want to get weight loss surgery, but you don’t have the money or the insurance, there are things you can do.
How To Pay For Bariatric Surgery Without Insurance
Before you decide that you’re going to pay for bariatric surgery, you need to figure out if it’s even right for you. We’ve included a link to our guide to bariatric surgery, so that you can figure out if it’s something you want to move forward with.
Weight Loss Surgery Payment Plans
Weight loss surgery providers (including the fine folks at West Texas Bariatrics) often offer payment plans for those who are unable to pay for the entire procedure upfront. This is a common thing for all types of procedures due to the cost of surgery in the United States.
In order to take advantage of a payment plan, first speak to the weight loss surgery clinic and ask what they can offer. If you want to learn about West Texas Bariatrics’ payment plans, call us at 806-771-2222 and we’ll do our best to assist you!
Take Out a Loan
If you don’t have the money, there are ways you can get the money. The cheapest and most reliable way to get the funds for bariatric surgery if you don’t have insurance is to take out a loan. We recommend looking into other methods first, because you will have to pay interest on these loans and there are penalties for defaulting on them.
Here are a few types of ways you can borrow money:
Banks offer medical loans, which require collateral. You should be able to get relatively low interest rates on these loans. Ask your bank if medical loans are available to you.
CareCredit is a credit card that’s used to pay for certain medical expenses. You might be able to use it to help pay for your surgery. Learn more about the CareCredit credit card here.
Home Equity Line of Credit (HELOC)
A HELOC is a way that you can borrow against the value of your home in order to get access to funds at a low interest rate. Because it’s backed by your home’s equity value, interest rates are much lower than most other types of loans.
Use Your Savings
If you have any savings that you can allocate to your bariatric surgery, we highly recommend that you use it over loans (so long as you’re not dipping into important family funds!)
Just by taking less money out in loans, you can save yourself a great deal in interest payments down the line.
How To Save Money on Bariatric Surgery
Deduct medical expenses
Some medical expenses are tax deductible. If you spent more than 10% of your gross annual income on medical expenses, you can deduct them.
You can include doctor’s fees, surgeon’s fees, hospital costs (including food and lodging), prescription drugs, and transportation costs derived from your medical care.
Don’t do this without either doing your research or speaking to a tax accountant!
We’re the leading provider of weight loss surgery in West Texas. Sign up for a seminar today to learn more about what bariatric surgery can do for your life!