Medical Financing: You Can Afford It!
Everyone knows beauty doesn't come cheap and, in order to look the way we'd like, a little help is often needed! That is where plastic surgeons step in: They help turn back the clocks so that we look (and, thus, feel!) our best. Dr. Michelle Yagoda offers a wide range of treatment options to her patients, and, during her twenty-plus years of practice, has made sure there is something for everyone.
Although Dr. Yagoda offers many non-surgical treatments, we admit that surgeries are very popular. The price of cosmetic surgery ranges, of course, and it is near impossible to give an accurate estimate without a cosmetic consultation. However, as you'd imagine, surgeries are in the thousands of dollars range -- which gives many people pause.
Luckily, there are financing options that make plastic surgery affordable to everyone, no matter their financial situation! Ever heard of medical financing? If you haven't, you should! Just as many people finance their cars, college tuitions, homes, and vacations, an equally large number of patients finance their cosmetic surgeries. According to the American Society of Plastic Surgery, there has been in increase in cosmetic surgeries every year since the studies began which means -- as you can probably guess -- an increase in the amount of money spent, too. So, what are the popular payment options that patients choose? Read on to find out!
1. Cash savings, medical savings plans, and gift certificates are the best option as you donít have to borrow or pay interest. You simply save some money each month (think "lay-a-way plan") until you have enough to cover the bill. Or, you can always ask for gifts in the form of gift certificates!
2. Regular credit cards may allow you to use an existing low APR card or a new card with a 0% introductory period. If the card has reasonable interest rates (10% or less), this can be an affordable way to finance the surgery while building your credit. But, remember, a large purchase can tie up your credit line and lower your credit score while you are paying it off. Be sure to pay off the balance before the introductory rate expires!
3. Health care or medical credit cards come with attractive 0% promotions, and some can have reasonable interest rates and payment plans. However, many of these health care card lenders have been deemed predatory, applying interest retroactively and 30% APR in cases of missed payments. Be sure to research the card and read the fine print!
4. Loans are, of course, available. Barring the obvious loans from family and friends, bank loans may be an option. Interest rates can be similar to those on credit cards, and loans tend to be fixed with set payment terms. Secured loans may have lower interest rates, but beware of unsecured loans which can have variable and high interest rates.
5. Finally, 401K loans allow participants to borrow up to 50% of the vested balance. Repayments are automatically deducted from your paycheck over the course of up to five years. With no impact on your credit rates and low interest fees, you may be tempted to take out a 401K loan, but know that you will then repay the loan with taxed money. There are some additional hidden restrictions, so make sure you read more into this option before going forward.
Bottom line? There are options that make plastic surgery affordable -- you just have to make sure to pick the right option for you! The holiday season is the perfect time to give yourself the "gift of beauty" though, and, no matter the cost, you are WORTH IT!
Did You Know? ....that this newsletter is interactive? You can click on any photo and be linked directly to the relevant information on our website. Go ahead! Give it a try!
In The News ... Dr. Yagoda gave some "eye-opening" advice in November's issue of Redbook. Check it out here! ... Are you one of the millions who has found themselves divorced? If so, here are some excellent tips from Dr. Yagoda on how to look great in 30 minutes or less. Actually, who says you need to be divorced to use them?! ... Fitness has expanded to the face! On August 27th, Dr. Yagoda had her facial exercises featured on Fashion Feed. ... BeautyScoop was in October's issue of Marie Claire! How great does this spread look? ... If you are one of the millions of people who receive Shape magazine, then we know you saw a familiar name this month! ... Dr.Yagoda was in the NEW YORK TIMES on August 25th! Yes, the NYTimes finally recognized that facial muscles need to be exercised, too. Read here and consider adding some of these moves to make a true full-body workout! ... Go get last month's issue of Cosmopolitan! Why? Dr. Yagoda was interviewed as part of a story on dermatologists as the "new therapists." Interesting! ... Another important magazine to grab? Town and Country! BeautyScoop gets a VIP mention in their Wellness section!