Plastic surgery takes a great deal of commitment, which most patients consider as an investment in themselves. The financial costs of cosmetic procedures are often in the thousands, but for those who don’t necessarily have $6,000 tucked away under the mattress, there are a number of available financing options for cosmetic surgery. A recent article on Fox Business highlights some of the many options that are currently available.
First of all, it’s important to note that cosmetic surgery is typically not covered under insurance, except in cases involving reconstructive surgery after an illness or accident. Costs associated with these procedures include the use of surgical facilities, anesthesia, and other medical fees. Surgeries such as breast augmentation, facelift, and rhinoplasty can run into the thousands, so it’s important to consider your financing options.
Common Financing Options for Plastic Surgery
Medical credit cards are a very popular option, as they usually come with reasonable interest rates and payment plans. Their use is limited to medical expenses. CareCredit is a highly reputable healthcare financing plan that is recognized in doctor’s offices nationwide. Regular credit cards are also a good option, although patients should be careful to avoid tying up their credit line.
Bank loans, either in the form of a personal loan, home equity loan, or line of credit, are another option for prospective patients. However, it’s important to keep an eye on interest rates, the housing market, and the stability of your money flow. Regardless of what type of credit you might receive, always be sure to read the fine print before signing on to any plan.
Another option is the use of cash savings, which has the benefit of avoiding borrowing or interest charges. Many people in uncertain financial situations may benefit from waiting until they can save up the money for their cosmetic procedure.
Other possibilities for financing include 401(k) loans, loans from family and friends, and gifts from others. Regardless of what type of financing that you use for your cosmetic surgery, always be sure that you’re ready for unknown contingencies. This way, your outer beauty will be matched by a sense of financial well-being.