If you’re considering any type of procedure that will be paid out of pocket because it’s considered cosmetic or because it’s medically necessary and you haven’t met your deductible, you want to read this first! Here are 3 options for financing cosmetic surgery or any healthcare service.
Options for Financing cosmetic surgery or other healthcare services
If you don’t have the cash flow to pay for a procedure in full at the time of service, you’re not alone. There are several financing companies out there that are happy to help. In exchange for a little interest!
CareCredit and Alphaeon Credit
These two companies operate similarly. After applying for credit and getting approved, they’ll pay your doctor or facility in full, up front, for your procedure. You then pay them back based on the terms of agreement. There are several options, including 6 or 12 months no interest. Be careful with this option. That’s great if you can pay it back within 6 months at no interest. But if you don’t pay it back within 6 months, the interest skyrockets to around 26%.
There are other loan options wherein the company is paid off over 2-3 years with interest. The longer the time to pay it back results in more money paid back to the company but it also means a lower monthly payment, which could be easier on your checking account.
Prosper Healthcare Lending
In this scenario, Prosper pays the patient directly. If the patient still wants the procedure, they would then pay the doctor or facility, and the patient would pay Prosper back over time with interest. If you have any questions, check out the video below.
Video: 3 options for financing cosmetic surgery
Don’t forget, before you request funding for your procedure, you need to know how much it costs first! Check pricing on services from a doctor near you by clicking here.