Wake Forest Baptist Offers Zero-Percent Interest Loan Program to Help Patients Manage Health Care Costs
Forest Baptist Medical Center has partnered with Commerce
Bank to offer patients interest-free loans for up to $50,000 to help plan for
and manage their health care costs over an extended period of time.
interest-free loan program is available to both new patients and existing
patients with a current balance.
Forest Baptist decided to offer this option because the increasing number of
patients with large out-of-pocket costs due to high deductible health insurance
plans. Many of these plans have annual
deductible requirements as high as $14,300. An interest-free loan can
help patients plan for and manage their financial obligations for health care
and allow them to receive a variety of services including elective procedures that
insurance often does not cover.
terms of the loan repayment agreement depend upon the amount of the loan. For
loans of $250 to $5,000, payment may be spread over 24 months. For loans of
$5,001 to $15,000, loans may be spread over 60 months. For loans of $15,001 to $50,000,
the repayment term is 84 months.
the loans are available for all types of services, some select elective
services such as specific bariatric, cosmetic or eye surgeries, require
patients to pay 50 percent of the total cost up front with the Commerce Bank
Loan available toward the remaining 50 percent.
More information about this new financial option is
available online at Wake Forest Baptist’s website or through Wake Forest Baptist’s Financial Counseling
Office at 336-716-0681. 11/23/2016http://www.wakehealth.edu/News-Releases/2016/Wake_Forest_Baptist_Offers_Zero-Percent_Interest_Loan_Program_to_Help_Patients_Manage_Health_Care_Costs.htm
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