I'm still waiting to see if my insurance will pay but it's not looking good. In the meantime my surgeon gets $12,500 cash. So Care Credit approved us and I have questions:

How much will the monthly payment be? Right now all I have is an approval letter.

I can either use Care Credit OR take a loan for 5800 from dh's 401K and another $6652 from our credit union. The monthly payments would be $254.00 a month for 60 months.

Or I could just use Care Credit.

or I have $3K in cash and I can finance the other $9500 between Care Credit or our credit union and 401K.

Advice??

Thanks!

Care Credit is just a credit card.

I would check out the interest rates and go with the lowest.

Good Luck!

I'm using Care Credit, it's a medical credit card basically, with a high interest rate... I think it's like 14% or something... might be able to do better somewhere else? You have to remember it's really hard to get approved for any kinda loan or card these days because of financial reform / economy, so Care Credit could be the best bet.

Why would you not wait to hear from your insurance? I know I went to a seminar given by a doctor who really pushed self-pay and encouraged payment while waiting for insurance approval. They get a much higher amount through self-pay and I felt really hustled. Insurance payees were given a list of things to do and told to get back to him in six months. I went to another practice which walked me through the entire process...I just showed up for appointments. The self-pay price as $14000; my insurance paid approx. $9000 which included the hernia repair. Actually about $8000 was for the hernia and the rest for the band. No wonder some doctors like self pay. With insurance payment any complications later are also covered. I have read stories here that some needing even minor port adjustments have to pay for the entire operation cost and if they need removal or if they get an erosion it can be a very steep price. It may not be a problem for everyone but I am not able to cover those kinds of costs without jeopardizing my ability to cover other bills. If I had to self pay I would but waiting a couple months seems much more prudent. If you get a negative reaction from the doctor, run...do not walk... to another practice. If he is so focussed on his fees do you trust him to do what is best for you? You won't lose but a couple months and the time to attend a free seminar or cinsultation!

For me... $6,000 via care credit at $135.00 / month.

I used Care Credit...it was my only option at the time. Surgery amount was $10,500. Interest rate is fixed at 10% and my payments are about $300 per month for 5 years. I am about 2 1/2 years post op and it is the best decision I have ever made for myself. By the time my surgery is paid off I should be more than ready for Full TT and some other things with the help of Care Credit! Good luck!!!