Thursday, September 27, 2012

Dealing with LASIK Cost

LASIK surgery is an alternative to wearing corrective lens for people with myopia, hyperopia and astigmatism. LASIK surgery, however, unlike corrective lenses is not covered by most insurance. That means a person has to find their own way to finance their LASIK procedure.

There are many companies out there who specialize in providing financing for LASIK surgery. These companies offer you a line of credit, much like a bank loan. It comes with an interest rate and you must make monthly payments towards your loan.

Before choosing a financing company, though, it is smart to speak with your surgeon. Some surgeons will only work with select financing companies. Additionally, your surgeon may offer financing that could end up being cheaper or he may have suggestions on where else to go for financing.

You may also be able to locate financing online through a search for "LASIK financing". You may be able to find more competitive interest rates and varied financing options through this method.

If you are looking to get financed you should still try to come up with an initial down payment. It helps to have as much of a down payment as possible. Having a large down payment will reduce the amount you need funded. Additionally, you will end up paying less if you can come up with more money down because you will pay less interest.

You can get the down payment money from your savings or you if you have a flexible spending account then you can use that. You should try to come up with the money without having to borrow it since that would defeat the purpose of having a down payment.

You have to keep in mind that getting financed for LASIK surgery is going to be like getting financing for anything else. If you have bad credit or no credit it may be difficult to find a company willing to finance you. This is a risky finance since there is no collateral for the company to collect should you default on the loan. By having a good sized down payment, you may be able to still get financed even if your credit is less then stellar.

When it comes to financing LASIK surgery it is really in your hands. The insurance companies have yet to see it as being a good alternative to financing corrective lenses, so they won't pay. Until they see that helping people get LASIK can actually save them money in the long run, it is unlikely that insurance will be the answer to LASIK costs. Until then it is up to you to find a way to get your LASIK surgery financed.

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