Advancements in plastic surgery have helped millions of people feel more confident in their bodies and go on to live fulfilled lives. Now depending on the procedure that you want done, cosmetic surgery can cost a small fortune. And unfortunately, medical insurance doesn’t typically cover elective procedures such as these.
In most cases, patients have to foot everything out of pocket. But we don’t all have a stash of funds lying somewhere in a bank. And even if you do, you probably want to keep that money for an emergency. So, how can you finance your plastic surgery?
Here are the most common plastic surgery financing options:
Plastic Surgery Loans
Plastic surgery loans are the most common financing option and a top choice for most people. Basically, these are installment-based personal unsecured loans that you can take to use towards your cosmetic surgery.
The good news is you can get a lender who works with qualified plastic surgeons. This makes booking and paying for the procedure a lot easier for you. Now, when shopping around for a plastic surgery loan, go for a lender who doesn’t need a hard credit check, as this may affect your credit score.
Medical Credit Cards
Another option is to get a medical credit card. Medical credit cards are used to foot deductibles and other out-of-pocket medical expenses.
Patients also use these cards to pay for medical procedures not included in traditional insurance, including plastic surgery. While some medical credit cards come with attractive rates, due diligence is recommended before signing up with a provider to avoid unexpected accruing costs.
Traditional Credit Cards
You can also pay for your surgery with your regular credit card if it has a favorable interest rate. Alternatively, you can apply for a new card with a zero percent introductory period to pay for the procedure. This gives you a grace period to pay off a good part of the loan before you battle with interest. The plus side of using a credit card is that you get to grow your credit score.
Home Equity Loans
Another financing option for plastic surgery patients is loans taken against their home equity. These loans are usually favorable because their interest is based on the going mortgage rates, usually lower than most personal bank loans. However, a loan against your home may land you in financial strife. So, this is best explored when other options are unavailable.
401(k) Loans
For those who have a 401(k)-retirement package, it is possible to take a loan of up to 50% of the invested funds up to a certain maximum to pay for the procedure. This loan does not affect your credit and allows you to pay back, from your paycheck, over time. However, you may pay double taxes and miss out on some investment growth.
Doctor’s Payment Plans
Finally, you can talk to your cosmetic doctor about any financing options they may offer. Some plastic surgeons actually have payment plans for their patients.
Choose the Plastic Surgery Financing Option That Works Best for You
You don’t have to wait until you have saved enough money for plastic surgery. There are a lot of plastic surgery financing options, including loans specifically designed for plastic surgery patients, to help you get the procedure now and pay in installments.
So, find a good provider and get the cosmetic adjustments you need today.