Different loans I can get while getting a medical procedure done abroad. We previously discussed that typical health insurance costs aren’t covered while patients travel Internationally. Today we would like to discuss some loans governments and private investors offer for people wanting to travel Internationally for medical procedures.

Some of the companies are:

1.    Prosper Healthcare Lending

This lender offers medical loans of up to $35,000 for select procedures such as bariatric procedures, plastic surgery, cosmetic dentistry, and fertility treatments. The company says it can give an application decision in as little as two minutes depending on your credit.

• Funding time — If you’re approved for a loan, Prosper Healthcare says it typically takes one to three business days for your loan to be disbursed. (Exact timing depends on your bank.)
• Several fees — In addition to interest and late fees, Prosper Healthcare Lending also charges origination fees. Depending on your information, the fee can be as high as 5%, and it will be deducted from your loan amount before the money is released to you.

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Some important facts about this lender:

• Prosper Healthcare Lending isn’t a credit card. Instead of having an open-ended payback period, you’ll have a set loan term — up to 60 months — to pay off your debt.
• If you can pay off the debt quickly, a medical credit card might be a better option for you. Some medical credit card issuers will offer an introductory 0% APR for a limited time. This means if you can pay off your medical debt in that intro period, you won’t pay interest.
• But if you’re considering a medical credit card, watch out for deferred interest. If your credit card includes this provision and you can’t pay off your balance during the promotional period, you may be on the hook for interest on the entire original debt — not just the remaining balance.

United Medical Credit

For people that don’t have great credit, United Medical Credit may allow them to add a co-signer to the medical loan application. Getting someone with good credit on board with co-signing a loan may increase the likelihood of approval or help them qualify for a lower interest rate. Important to know that  United Medical Credit isn’t a direct lender. Instead, an application is submitted, United Medical  shares the loan information with its partner healthcare lenders attempting to connect with a loan provider based on the credit profile.

• Loan amounts — Through its lending partners, United Medical Credit offers loans ranging from $1,000 to $35,000. Loans typically have repayment terms of one to five years.
• Fees — United Medical Credit notes that some loans charge double-digit interest rates and may have origination fees.(Me mindful about those).
• Network requirements — Most of United Medical Credit’s financing programs require you to work with a healthcare provider within its network. If your doctor isn’t within its network, they may have to enroll with United Medical Credit before your application can be processed.

Lender for multiple treatments: CareCredit

CareCredit isn’t a loan — it’s a credit card designed exclusively for health-related expenses. If you need multiple treatments or want continued access to financing in case of emergencies, CareCredit is a revolving credit account that you can repeatedly borrow against when needed.

• Introductory financing — CareCredit offers no-interest promotional periods. If you pay off the promotional purchase amount within the designated period — typically six, 12, 18, or 24 months — no interest will be charged from the purchase date. But if you don’t pay off the full balance within the specified promotional period, you’ll face interest charges on the purchase amount from the original purchase date.
• Repayment terms — Depending on your purchase amount, repayment terms range from six to 60 months.
• The account uses — CareCredit can be used to pay for a range of medical services for you, your loved ones, and even pets. CareCredit is accepted by more than 225,000 healthcare providers and veterinarians nationwide.
• Co-signers — CareCredit allows applicants to apply with a co-signer. If approved, the co-signer will also receive a CareCredit card and be jointly responsible for charges to the account.

Getting a procedure done is a financial decision that might add a lot of emotional and financial stress. Whether you need treatment for a medical emergency or an elective surgery, paying for an expensive procedure can be tough.

Let us help you figure out which financial options are better for you. Keep in mind that getting a procedure done abroad in Cali, is cheaper.

We are looking forward to working with  you.