Having medical bills is stressful, and even when you have insurance, your policy doesn’t always cover everything on the final bill. Also, if a medical procedure needs to be scheduled for you or one of your family members, but you’re unsure of how you’ll cover the costs, that can also bring about quite a bit of stress.
Some people are forced to opt-out of even an emergency surgery based on the belief that it will be financially impossible to cover the expenses because of your current financial situation. A survey conducted by the Kaiser Family Foundation1 found that many of those with medical bill problems reported delaying or skipping health care over the past 12 months because of the cost.
If you’ve been in this situation, you’re not alone. According to a Consumer Reports survey2, over 40% of respondents said they put off necessary procedures, because they feared they couldn’t cover the costs. This type of fear and stress not only affects your financial health, but it can also affect your physical and mental health as well.
It’s not just emergency medical situations that bring about high levels of stress and worry. Choosing to have an elective procedure, be it laser eye surgery so you can ditch those glasses, a tummy tuck to feel more confident, or dental work for a more self-assured smile and wondering how to cover the costs can also be distressing.
Whether it’s emergency surgery or an elective procedure, any time there’s a health issue alongside a financial burden, it could lead to a more nerve-racking time than it needs to be. Having the money to cover these expenses could relieve more stress than you realize, and it might mean the difference between a road ahead full of worry and stress or using that same energy to focus on getting well.
In a situation like this, explore if a personal loan can help you cover these expenses. One advantage to this option is the quick access to funds, which may be one of the most important factors. It could be a less costly option than spreading the fees among several different high-interest credit cards.
In addition, the loan can be used for a variety of other expenses that may be related to the procedure, such as travel, hotel, or home-care costs and with a budget-friendly fixed monthly payment, a loan could be a better option than draining your savings or believing there’s no other choice.
At LendingPoint, we believe everyone deserves to experience the power of possibilities and having good health. Ready to see your options? Click here.