How to Finance Hip Replacement Surgery

Health care costs can be astronomical in the United States, so the best way to finance hip replacement surgery is to qualify for health insurance. Most health insurance providers cover this type of surgery when required, so costs can be reduced to minimum deductible amounts. If health insurance is not an option, though, you may have to consider some creative ways to finance your surgery, some of which could land you in considerable debt.

Instructions

Difficulty: Moderately Challenging

Afford Hip Replacement Surgery

1. Call your health insurance provider and ask if hip replacement surgery is covered under your plan. Note that only partial coverage of the operation is a possibility. If it is not completely covered, find out how much you will have to pay for.
2. Find out how much the surgery will cost if you have no health insurance coverage. Get an estimated amount far in advance of your surgery so that you can look into your options.
3. Consider having your surgery performed outside of the United States. Surgical operations cost between 60 and 70 percent less in Europe. If you do not have health coverage, this could be a way to afford the surgery.
4. Consider Medicaid, a government-funded health-care program. Since most patients who undergo hip replacement surgery fall between the ages of 65 and 70 years old, you may qualify for Medicaid. Also, if you are under 65 years old but have a low income, you should also look into Medicaid as an option.
5. Check with your state government to see if there are any health coverage options offered for low-income or elderly patients.
6. Look into health-care financing. Although most financing is available for cosmetic surgery or dentistry, check with your credit card company or employer. Be sure to ask a lot of questions and read all the fine print, and pay attention to potential interest rates.
7. Take out a loan from your local bank. You will save money on interest, but you may have to go through a lot of paperwork to finance your surgery in this way.

Tips & Warnings

• Taking out a home equity loan or line of credit can be an option for those in need of emergency funds for hip replacement surgery. Reverse home loans are also an option for elderly patients who own their homes.
• If you choose international surgery, investigate your potential doctor with even more rigor than you would if you were interviewing doctors in the United States. Request certification and recommendations and also factor in the cost of travel to your total cost of surgery.