Budgeting for the Cost of Weight Loss Surgery

Tuesday, 12 May 2009 10:34

The cost of the LAP-BAND and other weight loss surgeries is a big concern for most individuals who are considering such a large step in their weight-loss efforts. There are many things to take into consideration when planning for the costs of this procedure — how to pay, if insurance will cover any portion of the cost, and whether there are any additional expenses on top of the surgery itself.

Actual Cost

The actual cost of the LAP-BAND surgery depends on each person's individual circumstances, geographical location, and the specific medical facility where the surgery will be performed. Lapbandsurgery.net claims that the average cost of the surgery in the United States is between $15,000-$20,000. For some patients, this cost not only includes the actual surgery itself, but also some band fills after the surgery is completed. A band fill is an out-patient procedure that requires a medical professional to insert or remove saline into the LAP-BAND, depending on the individual's needs. Other expenses, such as follow-up appointments, may also be included in the price of the surgery.

Insurance

Some insurance policies will cover a portion of the expenses if the LAP-BAND surgery is a medical necessity. The National Institutes of Health states that the most likely candidates for weight loss surgery are males that are around 100 pounds overweight and females that are 80 pounds overweight. The Mayo Foundation for Medical Education and Research states that other factors that may be taken into consideration when deciding if the surgery is a medical necessity include recommendations from a dietitian, surgeon, physician, and or psychologist.

In order for most insurance companies to approve LAP-BAND weight loss surgery, they will require a letter of medical necessity from the patient's physician. This usually outlines the reasons why this medical professional believes that the patient is an ideal candidate for the surgery, and may also include the medical conditions the patient may have or is in danger of contracting if drastic measures to lose excess weight aren’t taken.

Additional Expenses

There are many additional expenses that can arise before or after surgery, such as extended hospital stays, band fills, treatment for health problems as a result of the surgery, and travel costs to and from where the surgery is performed. Additionally, some patients need excess skin removed after the LAP-BAND weight loss surgery, which may cost thousands of dollars. Extended counseling may also be an incurred cost. Speaking with your physician or LAP-BAND surgery consultant about unexpected costs is a great way to decide how much money is needed to cover all aspects of the procedure.

Ways to Pay

Deciding how to pay for the surgery is the first step on the LAP-BAND journey. Speaking with your spouse or partner about how the surgery will be funded is crucial, especially if debt will be incurred. It is important that you have your partner’s support for whatever choice of funding you make. Many clinics and hospitals offer a variety of payment options. Some of these include financing from the facility itself, a personal loan from a bank or lending institution, insurance, and setting aside a portion of each paycheck towards a savings account.

Getting a loan or line of credit is the fastest way of receiving funding for the LAP-BAND weight loss surgery, but it is a debt that will incur interest and will take some time to pay off. Saving up for the surgery costs will take time, but if an individual already has large amounts of debt or a bad credit rating, this may be the most logical choice.