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Here are some options to finance bariatric surgery in Mexico.
Medical Loans for Bariatric Surgery
- Numerous banks and financial institutions offer medical loans to people in need of funds to pay for bariatric surgery.
- While most of the loans are unsecured (requiring no collateral), some may be secured.
- The rate of interest charged is higher in the case of unsecured loans because of high lender risk.
- At Mexico Bariatric Services, we facilitate medical loans through eFinancing Solutions.
- For Canadians, we work with Medicard.
1. Personal Loans (Credit Cards) for Financing Weight Loss Surgery in Mexico
- Another way to finance weight loss surgery is by getting a personal loan from a credit card facilitator.
- An example of this is Discover.
- While the interest rate charged can be on the higher side, this option has fewer formalities.
- Some of the leading credit card companies offering credit on medical treatment are CareCredit, MedKey, AccessOne MedCard, Citi Health Card, Wells Fargo Health Advantage Card.
- Mexico Bariatric Services has tie-ups with United Medical Credit for unsecured loans.
2. Self-Pay Bariatric Surgery
- You can self-finance your bariatric surgery, provided you either have adequate savings or adequate income.
- Paying out-of-pocket for bariatric surgery is usually opted by those with sufficient liquid assets.
3. Loans from Friends and Family
- You can also turn to their friends or family to borrow funds for financing their weight loss surgery.
- Usually, money borrowed from friends and family doesn’t require payment of interest and is an easy route to raise funds.
4. Proceeds from Sale of Assets
- One may resort to selling off assets that aren’t of much use to them.
- This route frees the individual from the burden of repaying the money in the future.
- It is hassle-free and does not carry any interest.
5. Refinancing for Bariatric Surgery
- Refinancing refers to replacing a previous loan with a new loan.
- You can either use refinancing to switch to a lower rate of interest or you can extend your payoff date, in this way, you end up paying less in principle amount every month.
- Some of the clients of Mexico Bariatric Services chose to refinance their housing loans for medical loans.
6. 401(k) loan
- You can take a loan from yourself by using your retirement funds with 401 (k) loans.
- You can borrow at the most 50% of your money or $50, 000, whichever is lower.
- You have to repay the funds in the form of monthly payments + interest. There may be a maintenance and set-up fee involved as well.
Consider all the risks involved with the 401(k) loan type as your future retirement funds are being consumed.
7. Crowdfunding to Finance Bariatric Surgery
- Crowdfunding is the phenomenon of raising money from a large number of people using an online platform.
- Crowdfunding platforms are websites dedicated to fundraising for a cause.
- People use these platforms to showcase their fundraising story, which quite often resonates with potential philanthropists.
- People seeking to raise funds for their bariatric surgery can come up with a compelling pitch for their motivation, reasons, and aspirations for weight loss surgery and look forward to contributions by the general public.
- Some leading crowdfunding websites are GoFundMe, GiveForward, and YouCaring.
Medical Tourism and Weight Loss Surgery in Mexico
- Many people now opt for medical tourism to get affordable and quality bariatric surgery outside their home country.
- Gastric bypass and gastric sleeve in Mexico are an obvious choice for people from the US and Canada because of geographical proximity.
- While the average cost of bariatric surgery in the United States is about $25,000, the price of weight loss surgery in Mexico begins from $3,350.
- Mexico Bariatric Services facilitates surgery in Tijuana, Cancun, and Mexicali.
- It has a highly renowned panel of bariatric surgeons, which has treated many medical tourists to their satisfaction.