Laser Eye Surgery With "Health Credit Cards"

The Citi Health Card, at a 12.96% interest rate, may be used to pay for elective or quality of life procedures, such as laser eye surgery, cosmetic dental care, orthodontry and hearing aids. Prices for such services easily go into the thousands, but Citi Health Card enables patients to "structure payment plans of up to 48 months, so members can customize their payments to fit their overall financial planning and medical spending," says Samuel Wang, Citigroup public affairs officer.

As consumer-driven health plans gain traction, banks and health plans are teaming up to develop health care credit cards that they hope will reduce the increased out-of-pocket costs for employees that go along with CDHPs, often as much as $2,000 or more a year.

In the last few years, large plans and financial institutions like Kaiser Permanente and Citigroup, as well as smaller regional outlets such as Via Christi Health, have made such cards available to individuals and families to charge their health care expenses.

While the cards have so far won raves from providers who receive prompt payments, it remains to be seen whether the accounts will be a boon or burden to consumers. Given that the average American has about $2,300 in credit card debt, the convenience of charging health care could prove to be a double-edged sword.

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