Can I get a personal loan for a medical device (CPAP, hearing aid, prosthetic)?

Common medical device costs (out-of-pocket after insurance): CPAP machine: $500-$1,500 (often covered partially by insurance with prior authorization). Hearing aids: $2,000-$7,000 per ear (rarely covered by commercial insurance; Medicare Part B does not cover hearing aids). Prosthetic limb: $5,000-$50,000+ (coverage varies significantly by plan; high-quality bionic prosthetics often require co-insurance or out-of-pocket costs of $10,000-$30,000). Power wheelchair: $3,000-$30,000 (Medicare covers if doctor-prescribed; co-insurance and deductibles apply). Cochlear implant (device + surgery): $40,000-$100,000 total (most major insurers cover if medically necessary; out-of-pocket varies significantly).

Insurance first: Always pursue insurance coverage before considering a personal loan. File a prior authorization request. If denied, file an internal appeal and then an external review (required by ACA for most health plans). Many medical device denials are overturned on appeal. Your state insurance commissioner can assist if appeals fail.

Financing options beyond personal loans: Manufacturer financing programs: Phonak, ReSound, Oticon, and other hearing aid manufacturers offer direct financing at 0% for 12-24 months. Unitron, Starkey similarly. DME suppliers like Scooter Store, National Seating & Mobility often have financing programs. CareCredit: Widely accepted at audiology practices, medical supply companies, and some prosthetics providers. Nonprofit assistance: Hear Now (for hearing aids), Amputee Coalition for prosthetics, state vocational rehabilitation programs for people with disabilities that affect employment.

Personal loan use case: A personal loan makes most sense when: Insurance has been exhausted. Nonprofit programs are unavailable or have long waits. The device is needed immediately and CareCredit is not accepted by the provider.