10. Consider Online Lending for Costly Procedures
Some costly procedures are not covered by insurance policies, leading many patients to take on debt in order to undergo treatment. For instance, a study by the online lending company Prosper found insurance covered less than half of the cost of fertility treatments for survey respondents — and 44 percent of respondents took on more than $10,000 in debt to cover the cost themselves.
Kwabena Stefan, who works with Prosper, said the company’s healthcare lending can offer more attractive interest rates and better terms than credit cards.
“Prosper Healthcare Lending offers affordable loans for elective procedures like IVF,” said Stefan, a media specialist with the public relations and content marketing firm the Bateman Group. “Millions of women undergo IVF each year in the U.S., and the average cost of one cycle is $12,000, nearly 25 percent of the average household income in America.”
Related: Every Personal Loan Option for Your Credit Score