Renting medical gear is a routine expense many older adults should plan for, although people of any age may require affordable medical devices at times — perhaps after a car crash or when a teen twists an ankle playing sports.
For several people, leasing medical equipment can be less costly than purchasing it outright, even for extended periods. Deciding whether to buy or rent, however, involves more than personal taste. In many cases, insurers and Medicare dictate whether physician-prescribed equipment must be rented or purchased.
6 Strategies to Cut Medical Equipment Rental Expenses
- Use Medicare or your health insurance
- Ask about discounts for extended rentals
- Search for local nonprofit lending services
- Borrow from relatives or friends
- Coordinate with a travel planner
- Think about buying (preowned) instead
These six approaches can help you save on everything from power chairs to patient lifts and adjustable beds.
1. Use Medicare or Your Insurance
If you have Original Medicare and a physician has determined that specific equipment is medically necessary, you should absolutely rely on Medicare for that equipment.
Even if Medicare prefers that you rent rather than purchase, don’t forgo this valuable benefit. In many situations, Medicare pays 80% of the monthly fee, and after 13 months the equipment typically becomes yours.
If you don’t have Medicare but carry private health insurance, check whether your plan covers rental equipment. Insurers aren’t required to provide coverage for durable medical equipment, but many plans do offer it.
2. Ask About Long-Term Rental Discounts
Month-to-month payments may be sensible for brief medical needs, but if your clinician expects you’ll require equipment for months or years, ask about reduced rates for extended rentals.
3. Search for Local Nonprofit Lending Programs
If you’re comfortable with lightly used items, local nonprofits sometimes provide free or low-cost rentals. If you’re unsure where to begin, try resources such as the Eldercare Locator to find assistance in your area.
Faith-based groups and community senior centers often lend equipment at no charge, especially for inexpensive items like canes, walkers and manual wheelchairs. If they don’t have what you need, they can frequently refer you to other local options.
State programs also offer support for affordable rentals. Look into your state’s resource listings to get started.
4. Borrow from Friends and Family
If someone you know previously needed a cane, lift or wheelchair, they might be open to lending it — particularly when your requirement is temporary.
If that person originally paid a lot for the item, you can offer a small rental payment. They may decline the money, but the offer is often appreciated.
5. Coordinate with a Travel Planner
If you already own equipment but are heading out of state, a travel planner can help arrange rentals with airlines, hotels and attractions like museums or theme parks.
Rental fees while traveling tend to be higher than local monthly rates — and are unlikely to be covered by insurance. Still, this option can be far less expensive than paying steep charges to transport bulky medical gear yourself.
6. Think About Buying (Preowned) Instead
Often renting is the smarter choice: it provides flexibility as health needs change, gives access to newer models and can be cheaper overall.
But for short-term needs — such as crutches after a biking mishap or a wheelchair for a few weeks post-surgery — buying a basic set of crutches or a simple used wheelchair from a thrift shop or yard sale may be more economical.
You can also browse online marketplaces like Craigslist and Facebook Marketplace for affordable secondhand equipment. If you don’t require advanced features, purchasing used gear can trim costs.
Occasionally, Amazon has competitive prices on new items. While you should avoid the cheapest option for something critical like an oxygen concentrator, discount crutches or basic mobility aids can often be bought affordably from the retailer.
What Is Durable Medical Equipment?
Durable Medical Equipment (DME) refers to reusable assistive devices that help people perform their daily activities while managing a medical condition. Although individuals of any age may need crutches and wheelchairs temporarily, older adults are the most frequent users, and Medicare Part B includes specific rules for DME.
This partial list illustrates the types of medically necessary equipment physicians commonly prescribe (and which Medicare might cover):
- Manual and power wheelchairs, plus mobility scooters
- Walkers, canes and crutches
- Adjustable hospital-style beds
- Patient lifts
- CPAP machines
- Commode chairs
- Blood glucose meters and test strips
- Oxygen systems
- Lancet devices
- Suction pumps
If you have Original Medicare (Part A and Part B) and a physician considers certain medical supplies or equipment necessary, contact Medicare to learn whether it’s covered, the amount covered and whether coverage requires that you rent or buy.
Buying Versus Renting Durable Medical Equipment
Essentially, you have a few routes to access home medical gear, assistive devices and supplies:
- Purchase new DME, either paying up front or financing the cost.
- Buy gently used equipment at a reduced price.
- Rent DME, on a monthly or longer-term basis.
However, if you’re covered by Medicare or certain insurance plans, you might not truly have a choice. Often these plans will only contribute if you either buy or rent in a particular way.
Therefore, your insurance policy is frequently the decisive factor in whether you can purchase or must rent your DME.
It’s usually beneficial if Medicare requires renting. For most items, Medicare covers 80% of the monthly rental fee for up to 13 months. After that period, you commonly gain ownership of the device.
Not everyone has Medicare, and sometimes Medicare does offer a choice. If you can choose whether to buy or rent a bed, lift or other device, consider these points as you compare options:
How Long Will You Need the Device?
If you’re generally healthy and recovering from surgery or a fracture, you may only need equipment briefly. Short-term wheelchair rentals for a week, for example, could cost much less than purchasing your own chair.
On the other hand, some rental firms specialize in long-term, affordable leasing of assistive devices. If you have an estimate for how long you’ll need the gear, you can compare long-term rental pricing against the cost to buy.
What Does Your Budget Allow?
Buying new medical equipment can mean shelling out thousands of dollars.
For instance, patient lifts may cost around $2,500. Hospital beds can run up to $10,000. Power wheelchairs sometimes top $15,000.
If you live on a fixed income, covering the upfront expense for new equipment may be difficult, even with partial insurance or Medicare coverage. Financing is an option, but rentals are often less expensive up front.
Instead of a lump sum, renting spreads expenses into monthly payments. Seniors managing multiple health issues or living in pricey independent-living communities may find it challenging to add another monthly bill, even with Medicare or family support.
How Often Do You Travel?
Some equipment is cumbersome to transport. CPAPs and portable pumps are travel-friendly, but motorized scooters and beds need special vehicles to move.
Renting bulky DME can include delivery and pickup in the rental cost. Some firms will even arrange equipment for out-of-state trips.
Advantages of Renting Medical Equipment
Leasing medical equipment offers several benefits. A few to consider:
Access to Current Technology
When you buy new or used equipment, the technology may become outdated. That can force you to shop again for replacements and make reselling your old unit harder.
Renting lets you switch to newer models as they become available.
Maintenance and Repairs
While a basic bed or wheelchair may not need much upkeep, complex devices such as CPAPs, power chairs, infusion pumps, glucose monitors and oxygen units can fail and require service.
As an owner, you’d pay for fixes. Rented equipment typically comes with repair service arranged by the rental company at no extra cost to you.
Flexibility for Changing Needs
Health needs can shift unexpectedly. If you rent month-to-month, it’s straightforward to return equipment once your doctor says it’s no longer necessary.
But if you bought the device and your care plan changes shortly after, you’d still be stuck with the equipment and the expense.
