How to pay for cosmetic surgery


Cosmetic surgery is a major decision that can totally change your life, but with it comes another life-changing choice: how do you pay?

From personal loans to credit cards, there are many options that support your choice to undergo cosmetic procedures. You may also be able to cut costs, depending on the type of procedure you are considering.

How much does cosmetic surgery cost?

With Australians spending around $1 billion on cosmetic surgeries and treatments each year, the industry is booming. Depending on what you are looking for, these can range from $200 for a Botox session to over $30,000 for more elaborate procedures.

In fact, we’ve looked at some nip tuck numbers and here are some rough averages based on surgeons in Sydney, per Cosmetics:

  • Abdominoplasty: $9,000 to $18,000
  • Rhinoplasty (nose job): $8,000 to $20,000
  • Breast lift or augmentation: $6,000 to $15,000, depending on whether you get implants and the hardware chosen
  • Breast reduction: About $9,000
  • Face lift: $6,500 to $30,000, ranging from small scars to an extensive deep facelift
  • Eyelid surgery: $2,500 to $4,500 for upper or lower surgery and $4,500 to $8,000 for combined surgery

While you might have the cash on hand to pay for minor surgery, a $30,000 outlay is a lot of money for anyone who can drop everything all at once. During a consultation, your doctor will go over prices and alternatives with you to explain exactly how those costs break down.

If you are considering any type of cosmetic procedure or surgery, it is important to determine if some of the costs can be covered. Your private health insurance may reimburse you for a portion of hospitalization costs, as well as plastic surgeries deemed medically necessary. Likewise, you may be able to get a small discount from Medicare for medically essential procedures such as breast reductions and corrective rhinoplasty to improve breathing.

What are my payment options for cosmetic surgery?

You’ve thought long and hard about going into cosmetic surgery and started making plans for the new, confidence-fueled you – then there’s the less exciting side of things. Your main payment options are:

  • Medical loans – One of the most common ways to pay for surgery is to take out a medical loan. Many lenders offer loans specific to cosmetic surgery, and your consultation may direct you to specific providers. These work in the same way as other personal loans, but are often offered by specialist lenders who are more familiar with the ins and outs of medical financing.
  • Credit card – Depending on your credit limit and the cost of your procedure, you may be able to pay for cosmetic surgery on your credit card. It’s important to remember that you’ll pay interest on anything you don’t repay within the scheduled period, so it may be worth comparing low-rate cards to medical loan rates.
  • Savings – If you have savings to spare, this is a way to pay for a procedure without incurring interest. This keeps the cost at the originally agreed price. That said, paying off a credit card or personal loan can be a great way to boost your credit score.

If your surgery is classified as life-saving or medically necessary and you have no other way to pay for it, you may also be able to access an early release from your superannuation funds for compassionate reasons. The process for this is described by the australian tax office. As this money is for your retirement, it is usually an option of last resort.

Are there other costs to keep in mind with plastic surgery?

As with any surgery, there may be other costs to consider in addition to the initial surgeon’s fee.

Your surgeon will most likely try to include the majority of associated costs in their estimate, but medical procedures are unpredictable and can often exceed expectations.

Things to keep in mind include a bill from the anesthesiologist, who can charge around $600 per hour, and the price of different implants. If there are any unexpected additional checks or additional dressings required, you may incur additional charges.

There are also costs outside the surgeon’s office. If you end up with a whole new bra size, for example, that will mean a fun new opportunity to spend on lingerie. Similarly, a tummy tuck or liposuction could mean you need a whole new wardrobe.

Small upkeep and fun costs are always the ones that catch us – so it’s more important than ever to create a budget and stick to it!

If you’re interested in a cosmetic surgery loan, take a look at some of the best personal loans from Mozo.


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