How to Finance Weight Loss Surgery in Mexico?

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.