While the upfront cost of weightloss surgery may seem hefty, recent studies have shown that the procedure frequently results in hundreds of thousands of savings.
Calculating the Costs of Bariatric Surgery
If you don’t have insurance or your insurance doesn’t cover bariatric surgery, figuring out to how to pay for it can be scary. The question may even arise for whether it is truly worth it. Sure, you want an improvement in your lifestyle and overall health–but does the decision, particularly without help from insurance, make sense financially?
Factors to Consider when Paying out of Pocket
There are certain incalculable costs, such as longevity. It’s really hard to attribute a dollar value to that. Another hard-to-monetize factor is quality of life. While the notion of enjoying daily activities more is desirable, it is easily outweighed by the necessity of paying rent or mortgage at the end of the month.
So how, then, can we really justify the expense of weight loss surgery from the perspective of financial health?
Let’s look at some numbers.
According to Dr. Vivek Prachand at the University of Chicago, “for an individual who is severely obese — a BMI of 35 or above — additional health care costs are anywhere from $3,000 to $10,000 a year.” Say you are currently about 30, and you live to 70. The sum of the healthcare costs alone can range from $120,000 to $400,000. Even worse, due to workplace discrimination, heavier-than-average workers may earn about $100,000 less over a 40-year career.
Now compare that to the cost of weight loss surgery at WeightWise. Surgery pricing ranges from $8,995 to $19,995, depending on the type of procedure. This covers the payment for the surgeons, the anesthesia, and basic hospital stay. (Pre-operative services, any additional procedures needed, and pre-payment of post-operative services are billed separately.) Details available at our free informational seminar.
The financial savings from weight loss surgery tend to kick in within just a few years. For example, a recent study in Obesity Surgery recently found that within five years of surgery, the average health care costs for patients suffering from morbid obesity were reduced by 29%.
How to Pay for the Procedure
If you do have insurance and they’re denying you coverage for the surgery, you don’t necessarily have to accept no for an answer. Contact a bariatric advocacy group, such as Lindstrom Obesity Advocacy, for help with appeals.
Apply for a grant through the Weight Loss Surgery Foundation of America.
Some Financing Providers We Work With
- Allegiance Credit Union (405-789-7900, www.allegiancecu.org)
- Care Credit (800-859-9975, www.carecredit.com)
The Intrinsic Value of Wellbeing
Ultimately, it boils down to making an investment in yourself. Saying “I am worth it,” is difficult, particularly when a part of you wants to allocate your money to help your family. Yet, when you are more healthy, you will be in a better position to provide for your loved ones. Doing what is needed to take care of yourself may even allow you to be around for your loved ones longer.
Interested in finding out more ways to pay for a better you? Sign up for one of our free, zero-obligation seminars today.