Durable medical equipment can be expensive. Wheelchairs, hospital beds, oxygen, and mobility scooters all add up. So people look for loans to afford them. Before borrowing, though, check coverage and even free equipment sources. This guide walks through insurance, free options, low-interest programs, and financing. This is general information, not medical or financial advice, and programs change.
Check Insurance Coverage First
Start with coverage. It may pay for most of the cost, so you may not need a loan at all.
Medicare Part B covers medically necessary durable medical equipment. After the deductible, you generally pay 20% coinsurance, if the supplier accepts assignment. Medicaid covers medically necessary equipment too, often more broadly than Medicare. And the VA provides equipment for enrolled veterans when prescribed.
Free Equipment Through Loan Closets
Before financing, look for free equipment. This is the best option when it fits.
Nonprofits, churches, senior centers, and disease charities run āloan closetsā and reuse programs. They lend gently-used wheelchairs, walkers, commodes, shower chairs, and sometimes hospital beds at no cost. You return them when done. This suits temporary or post-surgery needs well. Call the Eldercare Locator to find one, or ask your Area Agency on Aging.
Assistive Technology Loan Programs
Every state has a federally supported assistive technology program. Many offer better terms than a credit card.
These programs provide low-interest loans, revolving loan funds, or loan guarantees. The money buys assistive technology and medical equipment when insurance falls short. They are designed for exactly this situation. Search for your stateās assistive technology financing program.
Charities and Then Financing
Disease-specific charities are another route. Groups tied to conditions like ALS or muscular dystrophy often have equipment programs or grants.
Search for the national organization for your diagnosis. Only after exploring coverage, loan closets, assistive technology programs, and charities should you turn to financing. Options include supplier financing, a personal loan, or a medical credit card. Compare them by APR, term, and fees, and watch for deferred-interest traps.
Buying Used to Save Money
If you must purchase, buying gently-used can save a great deal. Reuse programs and assistive technology exchanges often sell refurbished equipment.
Prices run a fraction of retail. Durable items like walkers and wheelchairs hold up well. Just confirm the item works and fits your needs, ideally with input from a therapist.
Getting Equipment Covered
To improve your odds of coverage, get strong documentation. Ask your doctor for a prescription and a note of medical necessity.
Use a Medicare-enrolled supplier that accepts assignment to keep costs down. Ask the supplier to confirm what your plan will pay before you commit. If coverage is denied, you can appeal with more documentation. A patient advocate or your state assistive technology program can help.
A Smart Order
Work through these in order. First, check Medicare, Medicaid, or VA coverage. Look for a free loan closet for temporary needs.
Contact your state assistive technology program for low-interest financing. Check disease charities for your condition. Use financing only as a last resort, comparing terms carefully. Our guide to charities that help with medical bills lists more help.
Renting vs Buying Equipment
Not every need calls for a purchase. For short-term needs, renting can cost far less than buying.
Medicare and insurers sometimes rent equipment on your behalf, then buy it if you need it long enough. Ask your supplier whether renting or buying is cheaper for your situation. For a temporary recovery, a free loan closet is often better than either.
Warranty, Fit, and Maintenance
Equipment works best when it fits you and stays in good shape. A wheelchair or walker sized wrong can cause new problems.
Ask a physical or occupational therapist to help choose the right item. Keep any warranty paperwork. And learn basic maintenance, since simple care extends the life of the equipment and keeps it safe to use.
Medical Equipment Loan FAQs
Does insurance cover medical equipment?
Yes. Medicare Part B, Medicaid, and the VA cover medically necessary durable medical equipment, so check coverage first.
Can I get medical equipment for free?
Often yes. Loan closets and reuse programs lend gently-used equipment at no cost, especially for temporary needs.
What is an assistive technology loan program?
A state program offering low-interest loans and other financing to buy assistive technology and medical equipment.
Are there charities for equipment?
Yes. Disease-specific charities often have equipment loan programs or grants for people with a particular condition.
Where do I find a loan closet?
Call the Eldercare Locator and ask for a durable medical equipment loan closet or your Area Agency on Aging.
Can I buy used equipment?
Yes. Reuse programs sell refurbished equipment cheaply. Confirm it works and fits your needs.
What if coverage is denied?
You can appeal with documentation of medical necessity, and a patient advocate can help.
