Credit Lines for Health Care Needs

As we wait for the national health care program to come into fruition, that is if with all it’s opposition does come into fruition, we still have medical needs to attend to. If you are without insurance or your insurance doesn’t cover your needed health care expense and money is an issue, perhaps there is another way for you to have your health care needs met by using a health care credit line.Last year I attended a Chiropractor’s promotional dinner to introduce his rehabilitation program. I went to my free evaluation appointment and when presented with the cost of the program, which he wanted to be paid for in advance, he offered me the opportunity to apply for a Chase Health Advance credit line. This credit line has allowed me to make monthly payments without interest and has worked quite well for me. Of course there is the ever present gloomy prospect that if I should be late on a payment, huge interest and penalties will hit me like a sledge hammer, this is why I pay this one bill on line.A few months ago my new dentist informed me that I needed a lot of work done and I had to come up with $1,400.00, the amount my insurance wouldn’t cover. Not having the cash nor wanting to put it on my regular credit cards and have to pay it off with interest, I inquired if they had a health credit line and they did! This one is called Care Credit and it’s owned by G.E. This credit line is also interest free, but has a few conditions you have to pay attention to. Care Credit has different interest free time lengths and it is based on how your charge is processed by the medical office staff. If your amount due is charged in the normal way you will have six months interest free payments before they kick in interest, however, I was told if my charge is over $300.00 I can request a twelve month interest free time period. Again there is the sledge hammer possibility if I should be late or miss a payment.My goal in this article is to simply inform others of this option, as I had no idea this existed, not to do detailed pros and cons of each company. In my research I did find some very negative opinions regarding these health credit lines. Fox Business web site had an article where the state of New York is calling for an investigation into the practices of these companies, I also came across a site where several people had posted their dissatisfaction, mostly due to their being late or missing payments and having to deal with the sledge hammer effect. Anyone choosing to use one of these health credit lines needs to do so with a complete understanding of the rules. So far, for me, this has been a great option, my teeth are fixed and my posture is much improved!In my search I found four companies who have health credit lines:- Care Credit
– Chase Health Advance
– Health Care Financial Assistance Corp.
– Citi HealthSome of these also include veterinarian services and elective surgeries or simply allow you to charge co-pays you are unable to afford.Please be careful, make wise decisions and be well.