How to Receive Funding for Bariatric Surgery
According to the American Society for Metabolic and Bariatric Surgery, an estimated 200,000 morbidly obese people underwent bariatric surgery in the United States in 2008. The cost of each surgery was between $17,000 and $25,000. Some of those surgeries were covered by insurance; others were paid for out of pocket. If you decide to undergo bariatric surgery, the next step will be to figure out how to finance it.
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Things You'll Need
- Documentation of obesity related doctor's visits
- Diet and weight loss history
- Phone
- Pencil
- Paper
Instructions
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Contact your insurance plan or Medicare to see if bariatric surgery is covered.
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Gather all documentation required by your insurance company for coverage. This may include a letter of medical necessity from your weight loss surgeon or your primary care doctor, as well as any letters or documentation from any other health care professionals who have treated you for obesity. Some insurers also require a nutritional consultation and/or a psychological evaluation before they will approve coverage.
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File an appeal if coverage is denied. Address directly the reasons for denial. Document every visit you made to a health care professional for obesity related issues. Document visits to weight loss reduction centers, supervised weight loss programs and fitness clubs. Include receipts if you have them. Get help from a qualified attorney or an insurance advocate. Respond quickly.
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Ask your surgeon to help you. Someone in the office should be able to speak with you about your insurance questions and concerns. Most doctors have encountered insurance refusals before, and they may be able to advise you on your appeal.
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Explore self-financing options. Ask your doctor if he offers a payment plan. Many practices also work with a financing company that can provide you with a way to finance the surgery through them.
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Look into getting a credit card with a limit up to $25,000. Many credit card companies offer health care specific financing programs with terms up to 60 months.
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Get a personal loan from a bank. Amounts range from $5,000 to $50,000. Discounts and flexible repayment terms may apply if you already have a relationship with your lender.
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Get a home equity loan. This loan allows you to access the equity you have in your home. Amounts available start at $10,000.
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Refinance your mortgage. Loans starting at $10,000 are secured by your home.
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Tips & Warnings
Weight loss surgery fees vary by region. They are higher in urban areas, because overhead is higher in those areas. The highest cost region is the northeast, followed by the West Coast, then the southern and central states.
When determining the cost of weight loss surgery, remember that one to two years after the procedure and your weight loss, you may need additional plastic surgery to get rid of loose skin and remaining fat. You should discuss procedures like face lifts, breast augmentation or liposuction with your doctor. Be aware of the additional costs.
