Some patients opt for installment plans arranged via an in-house financing program, while others opt for financing through credit from finance companies that have partnered with their surgeons. Monthly payments with these options vary depending on the length of time needed to repair the loan, the cost of the procedure, and your credit rating.
If medical financing through your surgeon is not an option for you, you can always consider contacting a medical finance company on your own. These companies typically provide lists of doctors and surgeons who participate in their network. It is important to research any surgeons that you are considering, since inclusion on the list is not an endorsement of qualifications.
Before you explore your options, review your health insurance plan to determine if any procedures are covered, whether your procedure can be reimbursed under the terms of your health plan, and what the terms are, if any of the financing offered through your surgeon.
You should plan on contacting your insurance provider as soon as possible to find out more about your coverage and options, since the approval process can be long and complicated. If you are denied coverage by your insurance company, you also have the option of contacting an obesity law and advocacy center.
The approvals process usually involves a referral from your primary care physician establishing what is known as a Medical Necessity for weight loss surgery, and full support from your primary care physician is crucial. You will also be expected to include a documentation of your weight loss history, including receipts and records, such as weight loss programs, weight loss books, exercise equipment, and anything else that highlights your weight loss efforts.
Deciding to have lap band surgery is a decision that should not be taken lightly. You should seek out the opinions of your doctor and other medical health professionals in order to determine whether or not you are a good candidate for this type of procedure before you begin to explore finance options. The good news is that if you decide to go through with the procedure, there are many different financing options for you, regardless of the type of insurance plan you have.
Liability: Liability insurance is the least expensive policy you can buy, and for good reason. It's basically designed to protect the other guy and his bike - not you or yours.
Collision: Collision insurance, on the other hand, will help pay for your bike's repairs in the event of an accident.
Comprehensive: Comprehensive is well, shall we say, the most comprehensive policy you can buy covering everything from, fire, theft and vandalism, as well as accidents.
When shopping around for motorcycle insurance, it's important to understand every limitation of the policy you choose. For instance, a higher deductible will help lower your monthly premiums, but in the event of a claim, you will pay more out-of-pocket expenses. Another thing to consider is whether or not your policy will pay to replace your bike in the event it is totaled, or if the insurance company will pay your claim based on your bike's depreciated value. This can make a huge difference between having enough money to buy the new bike and getting stuck taking whatever you can afford.
Of course, there are ways to get your premium down. Some of thing's an insurance carrier will consider when setting your rate includes:
-The size of your motorcycle. -What kind and brand it is. -How old you are. -Your driving record (have you had any previous accidents, claims or speeding tickets?). -What you will use the bike for ex: to ride to work or for enjoyment. -How many miles you'll be wracking up on your bike every year. -Where you live. -What type od extras your bike has (face it, all the customized stuff that makes your bike great will also cost the insurance company more to replace should it be involved in an accident or stolen).
While every insurance carrier will consider these things when setting your individual insurance rate, there are ways to lower your premium - now and in the future. The first is to pay off any loans you have on your bike as soon as possible. When you finance your motorcycle, the bank requires a certain amount of insurance to cover the loan, but once it is paid in full, how much and what types of coverage you carry is totally up to you, leaving you to decide how much risk you want to take.
The second is to keep your driving record clean. Every claim you submit and every traffic violation you receive will add cost to your insurance premiums. Keep that in mind the next time you speed down the highway.
Make sure you tell your insurance agent if your bike is stored during the winter months (or any time of the year). The less it's on the road, the less you will pay for insurance.
Also, keep up your credit score. It's a little known fact among the general population, but more and more insurance companies are looking at a client's credit score to determine how responsible they are. And how much they should charge them for their insurance. Statistics have shown that those with higher credit scores submit fewer claims - which is good business for insurers.
Buying motorcycle insurance is much like buying any other type of insurance. The key to getting a good deal is shopping around and making sure that you clearly understand the policy that you've chosen. Just because one company's premiums are lower, doesn't necessarily make it a better deal.
Both Jerry Glynn & Matthew Hick are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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