But deciding whether to buy or rent medical equipment comes down to more than personal preference.
Usually, insurance providers and Medicare specify whether doctor-ordered medical equipment must be rented or purchased.
Private insurance companies dont have to offer DME coverage, but many do.
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States have their own assistance programs that can also assist you with affordable rentals.
Check out this list of state resources to get started.
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4.
They might not accept it, but the gesture is always nice.
But it beats the alternative of paying exorbitant fees to fly or drive with your bulky medical equipment.
you might even shop online for affordable used medical equipment on sites like Craigslist and Facebook Marketplace.
If you dont need all the bells and whistles, you could save some money by purchasing used equipment.
Sometimes Amazon has the lowest prices for new equipment.
What Is Durable Medical Equipment?
Buying vs. Often, such policies will only chip in on the cost if you do one or the other.
Its typically a good thing if Medicare requires you to rent your supplies.
For most equipment, Medicare covers 80% of the monthly rental fee for 13 months.
And after 13 months, you typically own the equipment automatically.
But not everyone has Medicare, and sometimes Medicaredoesgive you a choice.
What Does Your Budget Look Like?
Patient lifts, for example, might go for $2,500.
Hospital beds can reach $10,000.
Those can exceed $15,000.
Financing could be an option, but often rental equipment is cheaper.
Instead of a large upfront cost, rentals mean monthly costs.
How Often Do You Travel?
Some medical equipment is difficult to travel with, even around town.
CPAPs and infusion pumps travel easily, but motorized scooters and hospital beds might require specialized vehicles to transport.
Some rental companies can even coordinate equipment for you if you are traveling out of state.
Benefits of Medical Equipment Rental
Renting medical equipment has some perks.
When you rent home medical equipment, you might upgrade to the latest technology as it becomes available.
As a buyer, you would be responsible for these costs.
Unexpected Changes
Sometimes, our health needs change, for better or for worse.
Contributor Timothy Moore is a writer and editor in Cincinnati, Ohio.
He focuses on banks, loans and insurance for The Penny Hoarder.
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