Financing Medical Procedures Insurance Won't Cover

June 26, 2017

|

Chris Noyes

In situations where unexpected health care costs occur, having medical insurance can be a vital component to your financial survival. However, there can be services and procedures that are not covered by your insurance plan.

In addition, there are medical procedures widely desired by the public, often referred to as "elective" or "experimental" or "investigational" procedures that health plans do not cover.

In such cases, having an affordable financing options for those costs not covered by insurance - and fit your budget, can be crucial.

Medical Service Not Covered

If you've been told your treatment is investigational or experimental it may not be covered by your medical plan. Here is a partial list of procedures that may not be covered:

Long-Term Care
Cosmetic Surgery
Acupuncture
Weight Loss Programs/Surgery
Orthopedic Procedures
Stem Cell Treatments
Holistic Procedures
Adult Dental Services
Cosmetic Dentistry
Hearing Aids

Another Key Area: Pet/Veterinary Services

Face it: your pets are part of your family. When they become ill and need extensive medical care, your vet bill can get expensive; many times easily over $1,500. Similarly if you have livestock, your vet care is a crucial component to maintaining your herd - and your livelihood. Chances are you cannot rely on insurance coverage to defray those costs.

While you could finance pet care costs with a standard personal credit card, putting that vet bill on your card can severely hamper your line of credit should a family or home emergency arise. A viable alternative is use a lender offering pet-specific loans and lines of credit.

A Key Resource to Find Medical Financing is Invaluable

Ask about a patient financing option through your healthcare professional's practice. If your doctor, dentist, veterinarian, or other healthcare professional doesn't provide a financing option, ask them provide such options.

This is especially valuable for people who always had good credit, but lost their jobs, or saw their home value plummet during the banking crisis. The good news is that folks with recovering credit now have options.

EMPOWER Lending Alternatives™ can help match your healthcare professional's practice with the right lender. In that way, we provide the best program that best suits their patients' needs and budget.