Financing Your Stair Lift Cost
Truth in Lending ...
There is no reimbursement for a stair lift cost from medical insurance companies. The expense is completely "out of pocket". No insurance company recognizes a stair lift to be a medical device. Many companies will tell you to file for reimbursement with the receipt they provide. You can even call your insurance company to see if you are covered since you have a prescription from your doctor. Your insurance company will most likely respond - "Yes, you are Pre-Approved!" *This only means you are pre-approved to send in your paperwork. Nothing more.
What they fail to mention is that EVERY insurance company works with HCPCS codes (Healthcare Common Procedure Coding System). Codes are assigned to every medical procedure, diagnosis, prescription drug, and medical devices. There is NO CODE for a stair lift. You can send a letter and receipt in to your insurance company and a series of letters will be exchanged between you and them. eventually they will "Approve" your claim provided you can supply them with the appropriate HCPCS code.
Your financing options include the standard credit card, a second mortgage, a home equity loan, family or friends, and most recently - a lease with an option to buy at the end of the lease for $1.
Occasionally, we see some assistance from groups such as the ALS Foundation or Muscular Dystrophy Association. Partial funding has also been seen from County Agencies dealing with Aging Citizens. Unfortunately, this type of assistance usually requires an application process that may take a considerable amount of time.