Anyone take out a personal or medical loan to pay for implant?

[ViaSwiss]

I am still going to be fighting insurance (Ambetter) and seeing if I can find a policy in open enrollment in a few months that will cover the procedure.

But my backup plan is to take out a personal loan for $19k to cover Dr Karpman. I was curious if anyone else has done the same and what is cheapest way/bank to get a lower interest rate. Right now my bank's quote was around 11% for 60-72 months.

[softtohard]

I am still going to be fighting insurance (Ambetter) and seeing if I can find a policy in open enrollment in a few months that will cover the procedure.

But my backup plan is to take out a personal loan for $19k to cover Dr Karpman. I was curious if anyone else has done the same and what is cheapest way/bank to get a lower interest rate. Right now my bank's quote was around 11% for 60-72 months.

Yes I did. I had to take a lone of 7000 dollar to be able to do it now becaus the timing was just right.

[Lost Sheep]

I am still going to be fighting insurance (Ambetter) and seeing if I can find a policy in open enrollment in a few months that will cover the procedure.

But my backup plan is to take out a personal loan for $19k to cover Dr Karpman. I was curious if anyone else has done the same and what is cheapest way/bank to get a lower interest rate. Right now my bank's quote was around 11% for 60-72 months.

If you own real estate of any kind, a second mortgage, my guess, should be around 4-5% First mortgage with cash out between 3.5-4% right now (Aug 2019 as quoted to me by loan origination companies).

The medical offices often give discounts for paying cash, but the discount may or may not be substantial. The money side is separate from the medical side of the business, so don't be afraid to ask. They sometimes do payment arrangements. They probably have knowledge of how other patients have financed their costs. Ask the office manager of the business/billing side.

[ED2013]

Yes, I took out a personal loan from my bank.

[Les1992]

Sofi is a good source for such loans. Probably 5 to 6% unsecured simple interest.

[jump.ship]

I am saving. I will save about 80% and then take a loan for the rest though. Simply because I am too eager to get it done!

[Biker60]

I stupidly took money from my 401k as hardship since loans are not offered with 401k. I did it after I went to a two world class penile implanters. One did not bill insurance at 30k the other did bill insurance stars 24k. But I latter found from insurance that the Dr did not send in any medical records or diagnosis. Insurance used exclusion to deny. So pay up. But I had PD and then ED and was going to challenge. In the interim Xiaflex blew out my penis even more. Went to 2 other non world class implanters. They explained implants where my only option. I had the surgery 1/2/2020 and insurance said it was covered. So it was done. I have a $500 copay I think. However hospital did not request any payment. I had accepted the word of the 24k Dr office and that was wrong. I will pay penalty and tax on that money. But one thing I leave with this. Read your denial letter. Make sure the Dr gives you a diagnosis. If it’s just for implants with no other medical reasons, insurance may deny. The procedure codes does mean everything. It’s the difference between a plan exclusion and a exclusion exception.

[Agfa13]

Did not for the 1st and 2nd ones, but may have to for the 3nd one.
Leaving that one open ended as I have a malleable right now, and it was able to accomplish what I wanted, which was ass fucking.

[Biker60]

Absolutely, I work for a non profit hospital system. When paying cash, your a windfall for them. They will negotiate especially since they know what they would take if insurance paid. The standard Medicare rate for ipp is about 16k give or take. Most people don’t realize how many people don’t pay anything when they don’t have it. There are also limitations on collecting medical debts. My policy does not even require prior authorization for Ipp. Many peeps don’t even know when an employer has a exclusion until the claim is denied.

[ViaSwiss]

Hey! OP, how did your story end? I searched for old thread like this one, because I wanted to ask about it someone who already solved this problem. Because I have it too. But I don't know where to actually find a good loan option. One of my friends recommended to me https://expertpaydayloans.com. He says, that they gave him a car loan with a 4 % interest rate. The point is - his car costs like an implant I want to buy. So there is a chance that I can take an implant loan with similar interest rate. Maybe there is an even better option?

due to cost I opted to put it on hold.

If you ask Dr Karpman in Cali he accepts a loan service but its a higher rate (13-20%). You are better off getting a 0% interest credit card and trying to pay it off as fast as possible.