How A Short Term Loan Can Help With Medical Expenses
Medical treatments are a necessity in life but it can be difficult when you have to pay out-of-pocket. Even if you aren’t chronically sick, it’s easy for one major procedure to make things hard on an already tight budget. Using a short term loan for your medical expenses in Australia could be the solution you are looking for.
We’ll explore how a short term loan can help with medical expenses in Australia, so you can make an informed decision on what’s right for you!
Overview:
- What is a short term loan?
- How to get help with medical expenses?
- How can a short term loan help with medical expenses?
- What medical expenses can a short term loan cover?
- Who is eligible?
What is a short term loan?
A short term loan is a loan that is repaid within a short time period, typically over the span of 12 months. Depending on the lender will depend on how the loan is secured.
A short term loan can be used for anything and can be between $2,200 to $5,000. If you decide to go ahead with Swoosh, we secure the loan against your vehicle, ensuring lower repayments and a quicker settlement.
How to get help with medical expenses?
Working with the hospital
Before you do anything, you should attempt to negotiate with the hospital. It’s possible you will be able to set up a payment plan you can live with, and one that is interest free.
Government Help
When it comes to seeking medical help and depending on the state you live in, the government can offer support for recovering health problems and keep you going until you can go back to work. Centrelink has a range of support payments that may help you while recovering from your medical appointments/surgeries.
Check out Centrelink for more information about the government’s recovery programs/services.
Health Care
Depending on your circumstances and medical needs, you will either have access to public or private health care. For the most part the public system will cover most medical expenses, except for dental. Depending on your level of cover, private health care can help pay for most of your medical bills, or at the very least take away a percentage so the amount you receive is more manageable.
Community Health services
Depending on how large your community is, have a look around and you might find a some supportive groups in the community who can help with certain issues/medical expenses in Australia including:
- Sexual health
- Pregnancy and postnatal care
- Chronic illness or disease
- Indigenous health
- Cancer screening (typically cervical, bowel, and breast)
- Diabetes
- Tobacco, drug and alcohol-related issues
Friends and Family
If you have a good relationship with a friend or family member, you could have a chat with them about your medical expenses and see if they offer to help. It can be daunting asking for money from your loved ones but it can help you avoid interest and make a repayment deal that works for you without negatively impacting your credit score.
Take out a loan and set up a payment plan
Medical expenses in Australia often fall under the umbrella of personal loans. You’ll find yourself breathing easier when you see the lower payments and longer term to pay back your medical expenses.
How can a short term loan help with medical expenses?
Short term loans can be used for a variety of purposes so you can pay off your bills and repay the loan when it suits you. Medical expenses are also covered in a short term loan, as long as you stay below the maximum amount you can borrow. However, the amount you borrow can pay for the whole medical bill or take a big chunk of the bill out so you won’t have to empty your pockets.
What medical expenses can a short term loan cover?
Here are a list of some of the medical expenses you can pay off with this loan:
- Medical procedures, including orthopaedics
- Optical treatment or laser eye surgery
- Dental work including dental surgery, orthodontics like braces, and prosthodontics
- Hearing and audiology
- Cosmetic or plastic surgeries
- Specialist treatments, including IVF treatments
- Specialist appointments or major hospital expenses
- Vet bills for pet care
Can you get a loan to cover surgery?
Majority of the time, a short term loan can cover the costs of a surgery. Ultimately, it depends on the lender you go through and what type of payments your surgeons and hospital will accept.
Who is eligible?
Depending on which lender you choose to go with will depend on the eligibility criteria of the short term loan. Swoosh has four eligibility criteria to qualify you for any loan. These criteria are:
- 18 years or older
- Have been employed for at least 3 months
- Be a permanent resident or valid visa holder of Australia
- Own a vehicle registered in your name
Need help to pay off those medical expenses. Swoosh has you covered
Hopefully this blog has helped you find a way on how to stay on top of your medical expenses in Australia. If you need help to pay off your medical bills Swoosh can offer short term loans and emergency loans that could help ease the pressure off of you and your budget. With our 100% online application process, apply with us today!
