When you have obesity-related health problems, losing weight can be achieved effectively through bariatric surgery. Bariatric procedures have a plethora of benefits for those suffering from health conditions, like sleep apnea, heart disease, type 2 diabetes, high blood pressure, etc. It can restore your quality of life.
However, one of the most common reasons people don't pursue weight loss surgery is finances. You may not be sure you can afford to pay for the procedure. We have some insight on how to afford weight loss surgery without sacrificing quality of care.
It is important to know that this bariatric surgery can be life changing and, in some cases, life saving. The key here is to take steps towards your health by taking advantage of financial options that may be available to you. We believe that anyone who requires weight loss surgery should have the opportunity to pay for it.
The ROI of Bariatric Surgery
Bariatric surgery is an investment in your health. Due to the many conditions that arise from long term obesity, you can expect lofty medical expenses as you age if you don't address your weight. This is an important point to consider when analyzing the costs of weight loss surgery.
A study published on Bariatric Times stated the following, in regards to the financial ROI of pursuing bariatric surgery:
"The costs of the surgeries are readily offset by the benefits. Although there is some disagreement about expenditures and savings, most economists concur that the cost of surgery is amortized over 2 to 3 years, mostly due to the sharp reduction in medications. The savings in medications for diabetes alone exceed $10,000 per year. Not considered in these analyses are the additional social benefits due to reduction in disabilities and the ability to return to work and be productive at those jobs."
How to Afford Weight Loss Surgery: Insurance Coverage
Some health insurance plans, like those you may obtain from your employer, may cover weight loss surgery. This is not always the case, though. It is best for you to talk to your health care plan provider to determine what services are right for you.
Health insurance may be available to those who do not have any. Purchasing a policy that allows for bariatric surgery is essential. If you are unsure what your insurance options are, talk to a representative from the company.
Most people are able to obtain coverage for bariatric procedures through their PPO or through Medicare. Exhaust these possibilities as a first step.
What If Your Insurance Doesn't Cover Bariatric Surgery?
Not all health insurance plans will pay for weight loss surgery. There are various reasons for this. If you know you cannot get coverage in that manner, talk to our team about financing the procedure.
Additionally, to qualify for insurance coverage of your bariatric surgery, you must meet some specific metrics, including:
- having a BMI over 35 with obesity-related health issues
- having a BMI over 40 (without obesity-related health issues)
How to Afford Weight Loss Surgery: Financing
If you do not have coverage, you can work with a third party financing company to fund your expenses. To obtain this, the first step is to speak to our doctors about your needs. We'll provide you with an exam and discuss the best type of weight loss surgery for your needs, risks, and goals you'll need to meet before going forward. Then, we can work with you in obtaining financing for the procedure.
Olde Del Mar Surgical has an established relationship with Prosper Healthcare Lending. Their benefits include:
- Immediate decisions for loans under $35,000
- Longer terms for lower monthly payments
- No collateral required
- No prepayment penalties
- Fast and easy loan inquiry process
- 100% confidential
With this option, you may consider paying for your care in advance. The costs for hospital stays and other medical expenses can seem overwhelming initially, but many hospitals and medical facilities will offer substantial discounts to patients who pay for their care in advance. This reduces a great deal of risk for the hospital and they can afford to lower their prices.
Where to Begin
The first step is to talk to your surgeon. By doing so, you will learn the best type of weight loss surgery for your needs. Adjustable gastric banding, gastric bypass surgery, and gastric sleeve may all vary in cost. Once you determine the right procedure for you, you can begin developing your financing strategy.
Once we understand what you need, we can then help you through health insurance qualifications, financing need, or self pay solutions. Our team can provide you with more information about the costs you'll need to cover. We have helped countless patients through this process, so rest assured that you will be guided through the process.
Don't Let Costs Stop You: There Are Options
Don't let financing stand between you and the health you deserve. Talk to us first. Learn about your options. Find out how this type of procedure can change and better your life. Once you talk to us, we can work on finding a solution for financing your costs.