Extra food costs (healthier food tends to cost more)
Personal trainer and/or gym membership
New clothes (wait to go crazy with this until you reach your plateau weight)
Plastic surgery to remove sagging skin (more on this in the Downsides section below)
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05.
Gastric Balloon Insurance Considerations
SECTION SUMMARY:
The balloon insertion procedure is usually not covered by insurance
Your doctor may be able to get insurance to pay for some of the costs
While approved for use in most countries, including the United States, Canada, Australia and the United Kingdom, the intragastric balloon is not typically covered by insurance other than in the UK.
United States: Usually Not Covered
In the United States, most insurance policies, including those from Medicare and most major insurance companies, specifically exclude the intragastric balloon from coverage because it has not been around long enough.
For example, Medicare states it is not covered because “the long term safety and efficacy of the device in the treatment of obesity has not been established.” (6)
In the UK, the National Health Service (NHS) may cover the procedure if you can prove that your weight is impacting your health to a large enough degree. This determination is made on a case-by-case basis and may take several months.
06.
Gastric Balloon Cost Discounts
SECTION SUMMARY:
6 discounts to ask your doctor about
Ask your surgeon if any of these discounts are available:
Self-Pay Discounts. Most surgeons offer self-pay discounts or payment plans. Just ask!
Other Discounts. Some offer discounts if you pay the total amount you owe in advance.
Same Surgeon, Different Hospitals. Some surgeons operate at more than one hospital. Hospital costs make up the biggest part of the bill, so find out if your surgeon has a choice.
Pre-Op Costs. Some surgeons include pre-op costs in their quoted fees. Pre-op costs include things like testing and office visits.
Complications. Complications, should they arise, may increase total costs. Find out who will pay if one arises during surgery. Some surgeons will include the cost of any complications in their quote while others will charge extra.
Health Insurance. You may still get insurance to pay for some costs that could be applied to covered treatments. For example, lab work is needed for many reasons unrelated to the gastric balloon. Your surgeon can help you find the savings opportunities in your plan.
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07.
Gastric Balloon Financing
SECTION SUMMARY:
7 ways to make the procedure more affordable
Gastric balloon loans are available almost everywhere to help pay for:
The entire cost of surgery
The part that insurance doesn’t cover, like deductibles, copays, or coinsurance
The full list of financing options to make gastric balloon more affordable include (click links for more information):
Payment Plan Through a Qualified Surgeon
Brokers, Direct Lenders, and Credit Cards (Unsecured Medical Loans)
Friends & Family
Secured Medical Loans
Retirement Plan Loans
Permanent Life Insurance Loans
Medical travel – having surgery in a location that is less expensive than where you live
Gastric Balloon Loan Application: Click here to contact a gastric balloon surgeon to discuss your loan options
For more information about each of the above financing options, click here.
08.
Gastric Balloon Tax Savings
SECTION SUMMARY:
The procedure is tax deductible if you meet income requirements
The procedure can be paid for with special tax-favored accounts
United States: Might Be Deductible, Special Tax-Favored Accounts Available
Gastric balloon is tax deductible – you can deduct all medical expenses if the costs are more than 10% of your adjusted gross income.
To receive the deductions, you’ll need to complete Schedule A of the IRS Form 1040. You’ll also need to save your medical bills and payment statements as proof.
Money in special savings accounts (or even your IRA) may also be a way to pay for part of surgery tax-free:
Health Savings Account (HSA) – You can open an HSA alongside a “qualified high deductible” health plan. Tax-free HSA money can be used pay for qualified medical expenses. No other account receives better tax treatment. You can even transfer IRA money into an HSA. See the IRS’s Site for more info.
Archer Medical Savings Account (Archer MSA) – Archer MSAs are like HSAs for the self-employed or small businesses. Click here for details.
Health Reimbursement Account (HRA) – HRAs are only offered by employers who set them up and contribute money to them. If your company offers one, make sure your plan allows the use of HRA funds to pay for “all qualified medical expenses.” Click here for more info.
Flexible Spending Account (FSA) – Both employers and employees can contribute to an FSA, also known by its IRS code, “Section 125”. Money from them can be taken out tax-free if it is used for qualified medical expenses. Click here to get the summary from the IRS.
Canada: Is Deductible
Canada is generous compared to other countries when it comes to medical tax deductions. If you have a prescription, receipt, or other documentation, you can write them off.
If surgery is covered by your insurance, you can still deduct your:
You can write off your bariatric surgery expenses if the costs are over the Australian Taxation Office (ATO) threshold.
According to the ATO:
“To claim the net medical expenses tax offset in your tax return, you will need to know the total medical expenses you incurred for yourself and your dependants. You then deduct any refunds from Medicare, your health fund or any other reimbursements that relate to those expenses received during the financial year.”
Click here for updated Medicare Benefit Tax Statement information from the Department of Human Services.
09.
Find a Gastric Balloon Doctor
Search the Weight Loss Surgeon directory below to find a weight loss surgeon by country and region:
Patients who qualify for bariatric surgery usually:
Are at least 80 lbs (36 kg) overweight
Are between 18 and 75 years old
Have a history of failed weight loss attempts (e.g., failed diets)
Thoroughly understand that the procedure is just a tool; long-term success requires significant diet and lifestyle changes
The minimum bariatric surgery qualifications include:
A body mass index (BMI) of 40 or more
OR a BMI between 30 and 39.9 with a serious obesity-related health problem like diabetes, high blood pressure, sleep apnea, high cholesterol, joint problems, or others
OR a BMI of 30 to 40 with or without health issues for the gastric balloon procedure
To calculate your BMI, enter your height and weight into the tool, then click the “Calculate BMI” button.
Your out-of-pocket bariatric surgery cost can range anywhere from $0 to $20,000 or more depending on several factors, including:
Whether your insurance covers it – many insurances (including Medicare, Medicaid, and many individual/family and employer-provided policies) cover the majority of costs for gastric sleeve, gastric bypass, LAP-BAND®, and duodenal switch. The other types of bariatric surgery are less likely to be covered, although you may be able to get insurance to pay for some of the costs. Tap the “With Insurance” button in the tool to see average out-of-pocket costs per procedure after insurance pays. See our Insurance Tool to find out if your plan covers it.
Which procedure you choose – if insurance won’t pay, costs range anywhere from $8,000 to $20,000+, depending on the procedure. Tap the “Without Insurance” button in the tool to compare the national average self-pay costs for each procedure. (NOTE: Some surgeons offer each procedure for as low as half of the national average).
How competitive your surgeon and hospital fees are – there is often a substantial difference in costs between different doctors and hospitals, even within the same town.
Whether you qualify for tax write-offs – Bariatric surgery is tax deductible, which can have a big impact on the total cost of surgery. You can deduct medical expenses if your out-of-pocket costs are more than 10% of your adjusted gross income. See our Tax Tool to find out if your bariatric procedure will be tax deductible.
How you choose to pay for your procedure – If insurance covers it, you’ll only be responsible for any copays, deductibles, and coinsurance required by your specific plan. If you pay for the procedure without insurance, total costs will depend on how you pay. For example, your surgeon may offer a discount if you pay the full amount up front, and you can make the costs more affordable by applying for bariatric surgery financing.
Weight loss surgery is tax deductible, which can have a big impact on the total cost of surgery. You can deduct medical expenses if the costs are more than 10% of your adjusted gross income.
Use the tool to find out if you qualify for a tax deduction.
To receive the deductions, you’ll need to complete Schedule A of the IRS Form 1040. You’ll also need to save your medical bills and payment statements as proof. Money in one of the following special savings accounts (or even your IRA) may also be a way to pay for part of surgery tax-free:
Weight loss surgery is tax deductible, which can have a big impact on the total cost of surgery. You can deduct medical expenses if the costs are more than 10% of your adjusted gross income.
Use the tool to find out if you qualify for a tax deduction
To receive the deductions, you’ll need to complete Schedule A of the IRS Form 1040. You’ll also need to save your medical bills and payment statements as proof.
Money in one of the following special savings accounts (or even your IRA) may also be a way to pay for part of surgery tax-free:
*Disclaimers:Content: The information contained in this website is provided for general information purposes and your specific results may vary depending on a variety of circumstances. It is not intended as nor should be relied upon as medical advice. Rather, it is designed to support, not replace, the relationship that exists between a patient/site visitor and his/her existing physician(s). Before you use any of the information provided in the site, you should seek the advice of a qualified medical, dietary, fitness or other appropriate professional. Advertising: Bariatric Surgery Source, LLC has entered into referral and advertising arrangements with certain medical practices, original equipment manufacturers, and financial companies under which we receive compensation (in the form of flat fees per qualifying action) when you click on links to our partners and/or submit information. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Read More
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