Financing cosmetic procedures: CoolSculpting

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We all want to look our best, and for many of us that means dieting, exercising, and adopting a healthy lifestyle. But sometimes, despite our best efforts to keep physically fit, we end up with some stubborn spots that just won’t firm up. If this sounds familiar to you, then CoolSculpting may be a procedure you want to look into.

Cryolipolysis or CoolSculpting, is a non-invasive cosmetic treatment used to reduce fat in targeted areas of the body. The procedure uses controlled cooling to freeze fat cells, eliminating fat in hard to reduce areas. It was approved by the FDA in 2010 and has proven results for reducing body fat.

CoolSculpting is considered a cosmetic treatment, which means it won’t be covered by health insurance. The out-of-pocket costs vary from patient to patient. That said, it has a high patient satisfaction rate. Here are some options for financing.

Candidates for CoolSculpting

The CoolSculpting procedure is meant to deal with fatty bulges and is not suited for people who are looking to reduce their weight by large amounts. If you are obese and looking to reduce your weight, a better procedure might be a gastric bypass.

As CoolSculpting involves the use of extreme cooling, people with cold-related conditions like cryoglobulinemia or paroxysmal cold hemoglobinuria should also stay away.

If you are looking to deal with a double chin or some stubborn areas around the middle, this procedure would be a good fit. Ultimately, the best way to find out if you are eligible for the procedure is to consult with a CoolSculpting physician.

Risk factors to consider

While CoolSculpting is a non-invasive procedure, there are still risks to consider. Though rare, some patients have had issues with asymmetry and irregularities on the surface of the skin. Less than 1 percent of people reported an increase in fat cells rather than a decrease.

More common side effects include mild swelling, numbness, redness and tingling. These effects are temporary, and should dissipate without issue.

Costs associated with CoolSculpting

The cost of CoolSculpting varies greatly from patient to patient, determined by what parts of the body you want to target and how much fat you have in those areas. In 2017, the American Society of Plastic Surgeons listed the price as around $1,481 per treatment. Further breakdowns have reported that smaller areas may cost around $650, while larger areas can cost up to $4000. More recently on the CoolSculpting website, Dr. Sheila Nazarian put the procedure in a range between $2000 and $4000.

It’s important to keep in mind that it is an incredibly personalized procedure. The best way to really know how much it will cost is to go in for a consultation. Consultations are free and without any obligation to schedule a treatment. Also, keep in mind that CoolSculpting often requires multiple treatments to achieve your final goal. On average, patients usually require 1-2 treatments to see their desired results, but stubborn areas may require up to 5 treatments.

Paying for the treatment

CoolSculpting is a cosmetic procedure, which means that it is a self-pay procedure as well. Depending on which payment option you choose, you may even get a return on your payment.

Credit card

Aside from using your credit card for the rewards on your purchase, another advantage is the ability to pay for multiple procedures within your credit limit without having to ask for more credit. A disadvantage might be the interest rate applied to your repayment.

If you decide to go this route, make sure that the card you’re using has a low interest rate. You may also consider opening a new card that gives you a zero percent introductory rate. Some cards offer this rate for up to 18 months.

Personal loan

Taking out a personal loan to pay for your CoolSculpting procedure means that you will need to anticipate whether you will need to have repeated treatments. in order to make sure you ask for the right amount. Your credit score and annual income will be the main determining factors for the interest rate on your loan. Personal loan rates can be as low as 5.95 percent if you have good to excellent credit.

Payment plan

Most CoolSculpting clinics will offer their patients payment plan options. One of the most commonly used providers is called CreditCare, a healthcare credit card accepted by over 200,000 healthcare providers in the US. Another provider is called Alphaeon, which grants credit lines up to $25,000 at a no interest rate for 6 or 12 months. Mind you, if your balance is not paid in full by that time, your rate will shift to a 28.99% variable rate.

Bottom line

There’s a reason that CoolSculpting has a high satisfaction rate among patients. It’s non-invasive, reasonably priced and, most importantly, effective. As long as you do your part with exercise and diet, the results will last. And as long as you approach financing smartly, you’ll stay on the winning side.