Finance Tips for Preparing for Major Medical Surgery

Dealing with medical finance can be an issue that you do not want to deal with. With the rising costs of everything in the health care industry, it becomes harder and harder to pay for things. This is especially the case when you are dealing with the prospect of a major medical surgery. Major surgery is one of the most expensive things that you can have to pay for. Therefore, approaching it with a sound financial strategy is important if you want to make it through with minimal problems. Here are a few things that you need to keep in mind when dealing with major medical surgery.


If you are dealing with a major medical surgery, you will hopefully have medical insurance. If you do have insurance, then you will need to call your insurance provider and talk to them about the procedure. They will most likely request that you have any major expenses like this pre-approved before you do them. They will most likely call your doctor's office and talk to them about the procedure. Once they determine that the surgery is indeed necessary, they will review the facts of the claim. If everything looks good they will pre-approve the procedure. In most cases, your health insurance will cover the majority of the procedure. While it most likely will not cover everything, it will cover the vast majority.


If the surgery that you need is not an emergency surgery and you can afford to put it off without any permanent damage, you could actually try to save up for your part of the procedure. If you have a few months before you need the surgery, try setting aside an amount each month that you can save. This can make a big difference in how much you have to borrow later.


Once you determine how much the procedure will cost and how much the insurance is covering, there may be still more beyond your savings. When you have to come up with more money beyond the amount that you have saved, you may need to figure out a way to finance the rest of the procedure.

There are a number of medical financing programs out there that will help you take care of the rest. For these programs, you will have to fill out a credit application and be approved. Therefore, your credit score will usually be pulled and they will evaluate whether your score meets the necessary criteria. Once you are approved, they will most likely have different terms that you can choose from. For example, they might have a plan that allows for an introductory rate of no interest, followed by another term that does accrue interest. 

Regardless of what terms you select for your medical finance needs, you need to make sure that you understand them completely. You will be dealing with this cost for a long period of time in most cases, so you need to make sure that you comprehend everything about it. 

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