Be on the Road to Recovery With a Medical Loan in Missouri
With out-of-pocket medical expenses at an all-time high in Missouri, up to 40% of Missourians have reported being burdened by medical debt in recent years. Even people who have insurance often face high deductibles, on top of monthly premiums, and in addition to office visits or prescription co-pays.
While the cost of living in Missouri may be lower than other states, standard charges for routine medical procedures remain high. Even costs at institutions like the Missouri University Hospitals can cause financial hardship, despite discounted rates for uninsured individuals. While the standard price of medical procedures is subject to change over time, even routine doctor visits can cost hundreds, if not thousands of dollars.
Healthcare costs vary, depending on the provider and the treatment needed. According to Healthcare Bluebook, here are examples of just a few of the costs associated with common medical procedures in Springfield, Missouri:
- Office Visit, Established Patient (~10 min) = $82-$255
- Office Visit, Established Patient (~40 min) = $264-$823
- Urgent Care = $168-$525
- Flu Treatment = $99-168
- Treatment of Sinus Infection = $59-$168
Managing medical expenses is difficult, and it’s not surprising that many people go into debt when unexpected medical expenses arise. When lifesaving procedures are needed, medical expenses are a necessity that cannot be avoided, no matter what the cost.
Options for Managing Medical Expenses
Some physicians’ offices and hospitals allow patients to set up payment plans, which can help to alleviate a burdensome bill. However, many healthcare facilities require a significant payment up front and have high monthly payments going forward, compared to other options.
Another option is to use a credit card to pay for doctor’s visits, diagnostic tests, and even hospital stays. While convenient, many credit cards charge exorbitant interest rates. These rates can change at a moment’s notice and can potentially create massive debt accumulation and bad credit.
Personal loans are a great option that Missouri residents can use towards relieving the burden of medical debt. One huge advantage of taking out a personal medical loan for your medical expenses is that you can use it where you need it most, when you need it most.
Your health is essential, and you should have peace of mind during your treatment and recovery rather than having to worry about changes in the terms of your repayment. With personal medical loans, you work together with your lender to establish all of the repayment guidelines beforehand. The terms of your medical loan are fixed at a specific rate throughout the duration of your loan repayment. There are no surprise balloon payments or other unexpected changes in your repayment plan along the way.
The application process for a medical loan in Missouri is surprisingly simple, and you can do it online from the comfort of your own home. You will need to provide some basic general personal information, valid identification, proof of a valid checking account, and some proof-of-income. Some lenders may require a credit check, but not all of them do. You can qualify for a medical loan, even if you have a bad credit rating.
If you are a Missouri resident and looking for a medical loan, let Western Shamrock put its many decades of experience to work for you. Our team will help you get on your way to more financial and medical stability as well as answer any questions you may have during the process. Fill out an application today to get started westernshamrock.com/getstarted.