Paying for Bariatric Surgery
Weight loss surgery is not inexpensive. However, unlike some elective procedures, weight loss surgery usually comes with a number of options for payment. Each payment option comes with its share of pros and cons, and some of them follow:
Cash Pay:
If a patient is able to pay for surgery outright, they are afforded the greatest degree of flexibility. While patients must still qualify for bariatric surgery under FDA and practice guidelines, they will not be subjected to their individual insurance company’s additional restrictions or qualification criteria. Further, some practices and hospitals offer special cash pay rates for those able and willing to pay in full. Learn More About Cash Pay.
Third Party Financing:
For those who cannot pay by cash and whose insurance will not cover part or all of surgery, there are a multitude of third-party financing options including:
- Credit Cards
- Borrowing from Friends or Family
- Secured Loan
- Third Party Medical Credit
It is important to consider the costs of borrowing money and the cost of a potential default. When you borrow money, you risk your credit score, your collateralized assets and future borrowing opportunities. Learn More About Financing.
Insurance:
Medical insurance is most often used to finance a bariatric surgery procedure. The first step when considering insurance as payment for surgery is to call your insurance company and ask them if bariatric surgery is covered under your policy. If so, ask for a list of qualification criteria in writing. Be sure to compile all your supporting documentation before submitting for a pre-authorization. Submitting a complete and well-documented pre-authorization application will ensure speedier processing and hopefully, approval.
- For more information on Insurance for Bariatric Surgery, click here
- If your bariatric insurance claim has been denied click here
Medicare and Medicaid have their own set of qualification criteria that may be different from your private insurer. For more information on Medicare and Medicaid, please click here.