’)If you are in need of elective surgery, you will find that most insurance companies will not cover the charges, and turning to personal loans may be the only way you can pay. Most medical providers require at least a 50% deposit up front before starting an elective procedure, and some may even require full payment in advance. Since most elective medical procedures enhance the quality of your life but are not emergencies, you have plenty of time to apply for and be accepted for a personal loan before making your appointment. Following are three common elective procedures that you can use personal loans to cover:
1. Infertility Treatments
Infertility treatments are specifically designed to help increase a couple’s chances of conception if they have experienced difficulty in conceiving in the past. Depending upon each individual situation, you may opt for fertility pills, surgical procedures, artificial insemination, in vitro fertilization, gamete intrafallopian transfer, zygote intrafallopian transfer, intracytoplasmic sperm injection, donor eggs and embryos, or a surrogate mother. With each step, the cost increases and the need for a personal line of credit will be more likely. For example, fertility pills only cost $50 per month, but a surrogate mother could cost up to $50,000–only about $12,000 of which goes to the mother, the rest of the money is eaten up by lawyers and fees.
2. Plastic Surgery
Plastic surgery, except in very rare cases, is not covered by insurance, yet it has a very dramatic effect on a person’s self-esteem and appearance. Personal loans can be used to cover the costs of rhinoplasty (nose surgery), a tummy tuck, breast augmentation, or liposuction. Plastic surgery costs vary by area but still easily run into the thousands of dollars; for example, a tummy tuck usually costs around $5,000, liposuction around $3,000, and a nose job around $4,500. Plastic surgery costs must usually be paid in full in advance of the procedure, so a personal line of credit is necessary unless you have that much cash in savings.
3. Eye Surgery
Eye surgery is another field that is usually ignored by most insurance companies, but can be life-changing to the patient. The two most common eye surgery procedures are LASIK and cataract removal. LASIK surgery reshapes the cornea using lasers and thus mitigates or completely removes the need to wear glasses or contact lenses; depending on the method used, LASIK ranges between $1,700 and $2,300 per eye. Cataract surgery removes the clouding of the lens of the eye, a situation that becomes more common as a patient grows older. Again, depending upon how the surgery is done, you can expect to pay $3,300 to $4,000 per eye to have the procedure.
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