Weight loss surgery is a type of surgery that is often needed for individuals who are obese, according to their body mass index (BMI). In some cases, your health insurance helps cover at least part of the costs, but others have to figure out an alternative way to pay for it. In Mexico, costs tend to be about half that of the costs in the U.S., which draws many people to this option. If you choose to go to Mexico, the most important thing is finding a licensed surgeon and doing plenty of research. Once you have found, here are some tips for paying for the surgery.
Cost of Surgery in Mexico
The average cost of weight loss surgery, according to the National Institute of Diabetes and Digestive and Kidney Diseases, is between $20,000 and $35,000. In Mexico, some surgeons report it at being half that, or around $15,000 for surgery. This will depend on exactly what type of weight loss surgery you get, the fee by your surgeon and which hospital or clinic they are affiliated with. Also consider other costs of the surgery, like the fees for the operating room, hospital room, surgical assistant, anesthesiologist, lab fees, device fees, and follow-up procedures if you need them.
Using Your Own Savings
The first way you can pay for your weight loss surgery in Mexico is of course by using your own money and savings. Perhaps you have some money put aside for emergency or unexpected future expenses. You can also pull out money from your 401K or similar funds, though you should be aware that you can pay a penalty fee for early withdrawal if it is a retirement fund.
Getting a Personal Loan
With a good credit rating and the ability to prove you are financially stable, you may be able to get a personal loan. The loan industry is gradually improving, making it easier to get approved for a loan. If you can get a co-signer or have collateral, you have an even better chance of being approved.
Surgeon’s Financial Company
The surgeon you plan to use in Mexico might also work closely with financial companies to help you get on an installment plan. You will need to go through them since U.S. companies are likely not working with surgeons in another country who offer bariatric surgery.
While it can save you quite a bit of money by going to Mexico for your surgery, there are some limitations. You can’t get a grant to help pay for it, or go through medical financial companies in the U.S.