Many Oklahoma residents carry medical debt. Research shows that about one-third of the U.S. population carries medical debt, and nearly half of these debtors have defaulted on their medical bills. When a medical emergency occurs in a family, insurance may not fully cover the cost of necessary treatments, and medical care can be notoriously expensive. If you live in Oklahoma and have encountered a medical issue in your family, you may be wondering how you can shoulder the cost. Fortunately, you are not alone.
Medical expenses come in many forms. From visiting the doctor’s office for an illness to requiring urgent care for an injury or needing an emergency room visit for a severe medical issue – there are many ways that you can accumulate medical bills. The cost of medical treatment typically hinges on the severity of the issue at hand and the location that you are in when you receive it. Medical care is usually more expensive in densely populated urban areas than sparsely populated rural communities. When insurance doesn’t fully cover the cost of treatment, patients can be left with the responsibility of their medical bills without the means to pay them.
A Medical Loan in Oklahoma Can Spare You Significant Financial Penalties
It’s not uncommon to pay off medical debts at the expense of allowing other bills to go unpaid. Unfortunately, this type of repayment strategy can result in penalties for late payments, increased interest accrual rates, and additional fees that can ultimately cost even more than the initial loan amounts.
Healthcare Bluebook offers various estimates for different types of medical treatments throughout Oklahoma. For example, in Oklahoma City, OK, you can anticipate the following costs for these common medical services:
- 10-minute visit at a doctor’s office for an established patient: $81- $253
- 40-minute visit at a doctor’s office for an established patient: $264 – $823
- Urgent care: $171 – $533
- Flu treatment: $99 – $168
- Treatment for a sinus infection: $59 – $168
Depending on various factors, insurance may or may not cover the cost of common care. The out-of-pocket costs for medical care fluctuate around many different factors, specifically the type of visit and the kind of medical care the patient requires.
Potential Repayment Options
When you face high out-of-pocket costs for medical care that do not fit within your existing budget, you may have several different options for handling the added financial strain. The medical provider may offer a payment plan, or you could use a credit card to cover the bill and pay it back slowly over time. Getting a medical loan from Western Shamrock can offer much more agreeable terms than any of these other options because of their fixed interest rates and regular repayment schedule.
Getting a medical loan in Oklahoma allows an individual to handle medical bills quickly and easily without incurring the long-term penalties and the added cost of using high-interest rate credit cards. Western Shamrock is a verified traditional installment lender able to provide up to $1,590 to Oklahoma borrowers. This type of loan comes with a fixed interest rate and repayment schedule and can provide enough money to cover the out-of-pocket costs of necessary medical treatments.
Find Financial Freedom From Medical Bills
It’s essential to work with a traditional installment lender if you want a personal loan for medical expenses in Oklahoma. The right lender can make a significant difference in the outcome of your borrowing experience, and Western Shamrock specializes in providing small-dollar personal loans with flexible and reasonable repayment terms. Western Shamrock will evaluate every applicant on an individual basis to determine eligibility and loan terms.
Contact Western Shamrock for more details about Oklahoma medical loans and how traditional installment loans can help you manage your medical bill payments and be on your way to financial freedom. Fill out an application today to get started at westernshamrock.com/getstarted.