Educate yourself on cosmetic surgery financing options before your procedure.
For most patients, cosmetic surgery is a significant financial investment. While there are some rare instances when insurance covers the costs, such as after an accident, most of the time it is the patient’s responsibility.
“Consumers should be aware that cosmetic surgery is not covered under insurance, so all of the expenses must be paid out of pocket,” says Kevin Kautzmann, a certified financial planner.
Medical Credit Cards
A health care or medical credit card is a credit card specifically for medical expenses and can be used for cosmetic procedures. Often these cards start with low promotional rates and can have reasonable payment plans.
Traditional Credit Cards
If you don’t want to open a medical credit card, you could use your regular credit card or apply for a new one and take advantage of a 0% introductory period during which you could pay off your procedure.
For some, saving up and paying cash for a cosmetic procedure makes the most sense. “It may not be sexy, but the best answer for most people is to save each month until you have the bill covered—then get the procedure done,” says financial adviser Michael Masiello.
You can also check with your surgeon’s office to see if they offer payment plans. Some will create a plan tailored to a patient’s budget.
It may seem unconventional, but you could ask others to contribute to your procedure fund as a gift. This has become easier and more popular with online sites, such as DepositAGift.com and MyRegistry.com, as family or friends can make a deposit toward your procedure without even having to mail a check.