FINANCING
Whether you are looking to have potentially life saving procedure performed or are looking for some quality dental work or a tummy tuck, cost along with quality is critical. Because of the significant cost advantage of medical travel, out of pocket payment may be within reach for procedures that would be impossible without financial calamity in the US or Europe.
You need to carefully consider, compare, calculate and plan the various costs that will arise in your medical travel. In addition to the cost of your health care procedures, these costs may include: Cost of passport and/or visas, Travel Expenses: Flights, Accommodations, Food and drink, correspondence with family back home, Medications or medical supplies, etc. for use during post-procedure recovery time.
SOME OF THE POPULAR WAYS OF FINANCING A MEDICAL TRIP ABROAD ARE:
Because of the significant cost advantage of medical travel, out of pocket payment may be within reach for procedures that would be impossible without financial calamity in the US or Europe (e.g. $10,000 for a heart valve transplant in India versus $200,000 in North Carolina).
If you have health insurance you should check with your health insurer to find out if international coverage is provided under your plan.
If you are employed by a reputed organization, and they cover healthcare expenses for you within country, there is a high chance that they will accept medical tourism as an alternative option if you present your case effectively. All employers are interested in saving money and also providing the best healthcare opportunities to their staff to ensure a swift and healthy recovery. To that effect, you may need to prepare a list of potential benefits for your employer should you wish to avail medical travel at their expense.
There are financing companies that specialize in loans for medical procedures both elective and non elective. Their interest rates tend to be similar to a credit card. Consult the following websites, among others, to explore financing options.
You can consider requesting a loan from a website such as www.lendingclub.com that lets people invest money in your loan. Lending Club’s interest rates are typically higher than bank loans, especially loans backed by collateral, but they are very competitive to the interest rates that you would find on credit card. Lending Club also allows its borrowers to spread their repayment back over either three or five years, and there is no penalty to pay your loan off early either. Another great way to raise money that you may need would be to sell something. one thing to do is sell books, movies, and CDs on Half.com.
In case certain health services are not available in your country, and you need to travel overseas for care your government might sponsor your expenses, as is the case with many of the Gulf countries. GCC governments spent in excess of 2 billion (unaudited figures) on medical care abroad for their national patients, mainly because high-end care for complex procedures are not available within their country. In order to do so, you might need to prepare your case study with evidence indicating that such services are not available in your country. A local government hospital team can help you to identify the best international facility which might be associated with your government.
In certain countries a patient can claim tax deduction on treatments received abroad. In US the patients can claim tax deduction on all the IRS Qualified Medical Expenses (see IRS Code Section 213 d). Qualified expenses generally include- the cost of treatment, transportation expenses (including air, train, boat or car travel) and lodging and in-treatment meals. Though, it is imperative that your expenses must be directly related to your treatment. For more information visit the IRS website. IVF | IVF in India | ICSI | IUI | Surrogacy | Surrogacy in India | Medical Travel | Medical Tourism Advanced Reproductive Technology  FREE QUOTE PATIENT SPEAK ‟We had almost lost hope and given up. But we are thankful to God, for blessing us with our little angel. Today we have a reason to smile and celebrate. We would also like to thank Paradigm for all the help and support. ‟We are so happy. After several failed attempts my wife finally got pregnant. She is 10+ weeks pregnant now. Eagerly awaiting the arrival of our baby. ‟After 10 years of marriage we have finally been blessed with a girl child. All credit to the doctors and the staff. ‟Thanks a lot for helping us achieve our goal of starting a family. We feel very fortunate to have been under your care and able guidance for our treatment. We really appreciate the kind of service and care that you provided us. |
