Balding men certainly know how important it is to have a full head of hair, but medical insurance companies do not see it the same way. Hair transplant surgery is not covered or reimbursed by insurance companies because it is viewed as an entirely cosmetic procedure. Therefore the cost of hair transplantation rests solely with the patient.
The entire cost of hair transplant is passed on to the consumer: surgeon’s fee (the largest portion of the cost), surgical materials and bandages, local anesthetic, pain medication, antibiotics, and other costs associated with recovery. In general though, you will not see an itemized receipt of each of these fees. Rather, hair transplants are billed per follicular unit. This cost ranges between $3 and $20 per unit and most men will require at least a thousand follicular units to achieve their desired results. Quick math shows that hair transplantation surgery costs thousands of dollars (average $6,000).
Where do I get the money? Cash or credit.
If you are paying with cash, I recommend using your American Express (or other rewards card). I was able to book a flight to Sydney using the points I earned from my surgery!
If you are paying with credit, ask yourself if the surgery is really something you can afford. It makes no sense to unburden yourself from the anxiety of hair loss, only to replace it with a financial burden you cannot support.
If you decide to use credit, you will have to find it on your own, as most doctors will not offer it themselves. The easiest method is to use a credit card. Depending on your surgery fee, you will need a limit between $5,000 – $30,000. You will need a good FICO score to get a limit that high (see your credit score online), but even then not all credit cards will offer limits that high.
If you do not have a credit card with a high enough limit, you still have options. Try MyMedicalLoan. They specialize in financing cosmetic surgery procedures, including hair transplants.
