Did you know that the average cost of hearing aids ranges from $2,000 to as much as $7,000? When you or a loved one needs a unique pair of hearing aids, your medical expenses might be even higher.
Many patients cannot easily absorb a $7,000 expense, and the good news is that you may not have to. You can cover the out-of-pocket costs of hearing aids or other medical expenses by seeking outpatient financing solutions.
How to Finance Hearing Aids and Other Medical Expenses
When you start the research to learn how to finance hearing aids or other medical expenses, you’ll find that you have several options. You could use your credit card and add these expenses to your account. However, the downside is that most credit cards feature sky-high interest rates and fluctuating monthly payment amounts. This can make it challenging to pay off your debt and may cost you hundreds in unnecessary interest charges.
Fortunately, there is a better option known as patient financing. This approach involves obtaining a personal loan with fixed repayment terms and monthly payments. Personal loans typically offer a better interest rate than most credit cards, meaning you can save a bundle in interest charges.
Understanding the Benefits of Patient Financing
By using patient financing to cover your medical expenses, you can:
Get the Hearing Aids That You Need Fast
You can get your funds quickly when you take out a personal loan. This speed ensures you can purchase your hearing aids almost immediately to enjoy a better overall quality of life.
Spread Out Your Medical Expenses
Personal loans allow you to spread out the costs of your hearing aids or other medical expenses into affordable monthly installments.
Instead of having to cover thousands in equipment costs upfront, you can pay off your hearing aids over a period of 12 months or more. This can provide financial flexibility while allowing you to get the devices you need now.
Avoid the Pressure of Credit Card Debt
Taking on a huge credit card debt can cause undue stress. It can also diminish your credit score and make it more difficult to obtain other types of financing in the future, like car loans or mortgages. Credit cards may cause you to incur thousands of dollars in interest charges.
While personal loans also charge interest on your total loan amount, you will likely obtain a lower rate and enjoy fixed monthly payments. This makes it far easier to repay your loan while keeping total interest costs down.
Affordable Healthcare Financing Solutions from LendingUSA
If you need to purchase hearing aids or other essential medical devices, LendingUSA can help. We offer loans to cover the costs of hearing aids, medical treatment, and other healthcare-related expenses.
You can complete our loan applications in minutes, and you could receive a pre-approval response in seconds. If approved, we will gather additional information and disburse your funds quickly so you can complete your purchase or cover essential medical expenses.
Apply today or check your rate without impacting your credit. You can also connect with our team if you have any questions.
