Lapband Surgery

Bariatric Surgery: What Are My Financing Options?

Bariatric surgery is by no means inexpensive. It is a major medical decision whose financial implications too are considerable. A Lapband surgery for example can cost upwards of $ 17,000. Thus without financing it might be difficult for the individual to bear the costs of this procedure alone.

Help from insurance companies and financial institutions can make bariatric surgery more manageable and within reach.

Many insurance companies offer to cover the costs of bariatric surgery but need to be convinced that this is a medical necessity before they do anything about it. Most insurance companies require the patient to prove that this surgery was absolutely necessary and the claim needs to be backed up by records of previous history of weight loss and why the surgery is necessary at the present time.

Earlier, insurance companies would hesitate to finance Lapband and gastric bypass surgeries. In recent time however they have been realising that it may be financially more viable to bear the cost of the surgery itself rather than pay for future medical problems that arise out of obesity.

By understanding the insurance approval process and actively pursuing the application, a patient can be successful in getting the insurance company to agree to cover the cost of bariatric surgery. The process may be long and complicated but worth it in the long run.

The National Institutes of Health (NIH) lays down certain criteria for patients opting for weight loss surgery. According to the NIH a patient whose body mass index or BMI is between 35 and 39 can opt for weight loss surgery if he or she is also suffering from obesity related medical conditions like diabetes, high cholesterol or hypertension. With a BMI of over 40 associated medical complications do not have to exist. In several states insurance companies are required by the law to help those who meet these criteria.

Some financial institutions also offer help with medical procedures that that are not covered by insurance like bariatric surgery .The financing help offered may cover the cost of the entire procedure. Alternatively it can also help those who have been covered by other sources for a part of the surgery costs. The help is usually in the form of a no-interest loan or an extended payment plan.

Quite often the bariatric surgeon can be a source of considerable support. This is especially so if they strongly feel that the surgery will alter the patient's life for the better. Surgeons can guide the patient about financial options that are available and recommend viable payment options and financing programs.

Sometimes the help may also come from the bariatric surgery centre itself. Several centers have tie ups with finance companies in order to be able to offer financial help to their patients.

Those who do not meet the stringent criteria of insurance companies and the NIH can choose to bear the cost of the surgery themselves. A tax deduction on the amount may be a distinct possibility as it is considered a major medical expense.