How to Finance Open Heart Surgery

In addition to the physical and emotional ramifications of surgery, people have to consider how they will pay for the procedure, as well as for medications and post-operative care. Fortunately, there are a few solutions out there for people who have to come up with the money for open heart surgery.

Instructions

Difficulty: Moderately Challenging

Communicate With Your Health Insurance Provider

1. Call your health insurance provider and ask if the particular type of open heart surgery you need is covered.
2. Question the person you speak to at your health insurance company as to why the surgery is not covered, if, indeed, it is not.
3. Ask your health insurance company if the surgery would be covered if you got another professional opinion supporting the need for the surgery.
4. Question your health insurance provider about financial alternatives if they aren't going to cover the surgery or aren't going to cover it fully. They may work with specific lenders.

Talk to Your Bank

5. Know that banks and credit unions can offer loans to pay for medical procedures. Go into your bank and ask a banker about the best way for you to finance the necessary procedure. Even if the bank can't finance you, the banker may offer you some good advice on obtaining financing.
6. Approach local branches of banks with whom you do not currently do business. They may be eager to win your business. Community banks, rather than large chains, may be more willing to lend a local a large sum of money, especially if you can explain your circumstances in person.

Finance Your Surgery With a Medical Loan

7. Know that, even if your health care doesn't cover your surgery, you still have options. There are a number of firms that will loan you the money for surgery and allow you to pay it off gradually, as you would pay off any other loan.
8. Consider taking out a second mortgage. Home-secured loans often offer better interest rates than unsecured loans.
9. Call your credit card company, and ask if it has a healthcare financing division. Such well-known credit card providers as CitiFinancial and CapitalOne offer surgery financing.

Tips & Warnings

• Compare the costs of surgeries at different facilities. There may be a price differential between what your hospital charges versus a university teaching hospital or traveling overseas for the procedure.