15 Dec Is Platelet-Rich Plasma Therapy Covered by Most Insurance Policies?
The newest form of medicine is Platelet-Rich Plasma Therapy, otherwise known as PRP. This procedure has shown great potential in the treatment of chronic pain and other conditions. However, it is quite expensive, usually too much for people to pay for out of pocket. So, will insurance help cover PRP therapy?
Generally Speaking, No, It Won’t
Every insurance company and policy has a different approach to what is covered and what isn’t. So, we cannot say across the board whether your insurance company will cover platelet-rich plasma therapy or not. However, in most cases, the answer is no.
Why wouldn’t insurance companies offer coverage for such a promising form of treatment? Insurance providers usually will not cover PRP therapy because it is still considered experimental. This means that the procedure has not been proven to be effective through enough study and clinical trials to be considered conventional medicine just yet.
Does This Mean PRP Therapy Isn’t Effective?
Absolutely not! PRP therapy has been proven to be effective in treating osteoarthritis, muscle strain/injuries, and certain oral conditions. However, the medical establishment still considers it “investigational” because there are not enough studies on its effectiveness for other types of chronic conditions.
How Can I Make PRP Affordable?
There are many ways that you can make PRP affordable without breaking your budget or insurance policy! You simply need to know where to look for help with financing. One way is through a personal loan. Another option is an HSA account, which allows you to save money tax-free towards any medical expense, including platelet-rich plasma therapy.
Can I Really Apply HSA Funds Towards PRP Therapy?
Yes, you can! There are minimal restrictions on what types of medical expenses your HSA account funds can be applied towards. This is not the case with FSA funds, so be sure not to get the two confused. So if you’re looking for ways to finance platelet-rich plasma therapy, remember that there are options out there and they don’t all involve emptying your wallet in order to get the help you deserve!
Are you looking for PRP therapy in Chicago from a provider who can help connect you with financing options? Then contact The Regenerative Stem Cell Institute. We offer PRP treatment for a wide variety of conditions and can help you make our therapies work within your budget.
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