The Center for Podiatric Care and Sports Medicine

How To Pay For Laser Foot Fungus Treatments While Fast-Tracking Student Loan Payments

Posted by on Friday, June 28th, 2013

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If you’re fast-tracking your student loan payments, chances are you don’t have much extra money lying around. Unfortunately, fungal nail treatments are not covered by medical insurance — if you’re one of the recent grads lucky enough to have insurance at all. (Approximately 40 million students do not.) Many people are drowning in medical debt, with 62% of all bankruptcies related to some sort of medical expense. Laser toenail foot treatments offer the latest technology to improve your condition, but how can you afford the procedure?

Why Get Toenail Fungus Laser Treatment?

The great thing about laser treatment for toenail fungus is that it’s quicky, easy and painless. In just 30 minutes per session, the fungus will be cooked to death, leaving you with just a slightly warm sensation. Sure, you will still need to allow time for the old fungus nail to grow out, but that’s true of any toenail fungus treatment. The success rate is higher than 70%, which is much better than topical treatments.

What Do Laser Toenail Foot Treatments Cost?

The cost of treatment ranges from $600 to $1,000 and is not covered by insurance companies. They claim it’s a “cosmetic procedure,” but anyone who has had nail fungus knows that it is not a livable condition by any stretch of the imagination! The yellowed, crumbled nails are embarrassing and unhealthy. If left untreated for too long, the nail could actually loosen from the nail bed and fall right off. No one wants that.

So How Do You Raise Money For Onychomycosis Laser Treatment?

Fox Business says there are many financing options for out-of-pocket medical procedures. Here are a few:

  • Health care of medical credit cards – This increasingly popular way to pay for medical expenses usually comes with a 0% interest promotion and reasonable interest rate after the promotional period. You can only use the card for a medical procedure, which will protect you from overspending. Be sure to read the terms and fine print before signing on the dotted line, as not all cards are created equal.
  • Regular credit card – If you have a low-APR credit card or apply for a new card with 0% interest for six months, then this could buy you time to get a good-paying job. The cash back rewards provide an added bonus. However, you need to be careful that a large chunk of change doesn’t tie up too much of your credit and throw your credit utilization ratio off-balance. Experts recommend paying no more than 10% interest.
  • Bank loan – A personal loan from your local bank or credit union may be an option if you have decent credit. Keep in mind that the interest rate of an unsecured bank loan is comparable to most credit card interest rates. Paying on a loan like this can boost your credit rating, but the interest charges could really sink your ship. If you are sure you can manage the monthly payments, you may want to ask about a secured loan that borrows against your house or car.
  • Unsecured medical loans – If you have low or no credit, this can be a viable option. Interest rates tend to be high or balloon after the introductory offer, but having a co-signer could help keep this number lower. Websites like MyMedicalLoan.com and eFinancing Solutions help you shop around for the best deal, in exchange for a fee.
  • Doctor payment plan – Often times, doctors will work with patients to create a plan that works with their budgets. These plans do not calculate interest and are much more flexible, tailored to the individual. Missed or late payments won’t affect your credit score either. Of course, unpaid loans can still go to collection and you could jeopardize your relationship with the doctor if you fail to pay.
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If you have any foot problems or pain, contact The Center for Podiatric Care and Sports MedicineDr. Josef J. GeldwertDr. Katherine Lai, Dr. Ryan Minara and Dr. Mariola Rivera have helped thousands of people get back on their feet. Unfortunately, we cannot give diagnoses or treatment advice online. Please make an appointment to see us if you live in the NY metropolitan area or seek out a podiatrist in your area.