What are the options for paying for healthcare?
As healthcare costs continue to increase year after year, it is important to know all of your options for paying for the healthcare you need.
Insurance is the first option for most patients when paying for healthcare. You pay your premium and hope that the insurance company keeps up their end of the deal by paying for your healthcare services. However, it is not always so simple. With deductibles, maximums, waiting periods, etc., your insurance may fall short of covering all of the cost of your healthcare needs
Pay out of Pocket
For patients without insurance, they may have to look into paying for their healthcare cost completely out of pocket. This is a very expensive option to choose and it can tie up finances for other needs in life.
High interest credit cards are also another option patients choose to finance their healthcare costs. The interest rates and fees can be too much for some patients to keep up with and can often end up in you paying more than double for your healthcare needs.
In Office Payment Plans
Some medical/ dental offices offer no interest in-office payment options that allow you to break down your payments into smaller monthly installments. Ask if your provider offers this option as it is a good way to make your healthcare affordable.
Private loans and/ or medical loans are also an option for financing treatment. This option usually requires a credit check and good credit to qualify. Watch out for the interest rate and make sure that you don’t end up paying significantly more than you should.
Third Party Financing Companies
Third party financing companies such as Neon Financial can help you breakdown those healthcare bills into affordable monthly payments. With no credit checks, instant approvals and no hassle financing, more and more patients are going with this option.