According to the data published by the Central Statistics Bureau, national health expenses, funded chiefly by taxes, are increasing annually. This rising trend is fairly clear, and means Israeli households pay more and more every year from their own pockets.

Despite the many expenses, the Public Health Law usually only covers basic treatments. The “health basket” is constantly eroding, and is not being updated in light of the increasing life expectancy. It does not cover any unusual health expenses, and does not contain a solution for medical treatments overseas. The services that are in fact provided are only provided on the basis of specific criteria.

According to the same statistical data, most of us will become sick in the course of our lives, and require on average 2-3 surgeries or complex medical treatments, whether in Israel or abroad. Bear in mind that these treatments are often not part of the “health basket”, and in most cases cost hundreds of thousands of shekels (or dollars). In many cases, these services are completely essential and lifesaving.

Therefore, it is good to know that part of or even the entire solution can come from mortgage banks and insurance companies. These are willing to provide the financial means we require, in return for mortgaging an apartment or other property, based on specific criteria.

In such cases, a mortgage for funding health related expenses can allow a person to economically cope with disease and deteriorated health. A large variety of services will now be available to such person, such as private surgeries in Israel and abroad, complex dental treatments, plastic surgery, implants in Israel and abroad (including room and board), expensive medications not included in the health basket, ambulatory services, alternative medicine, and more.

Public awareness to this option is still inadequate, although it is sufficient to know that a mortgage for funding health related expenses could provide us with an additional opportunity to create a healthy future. Current developments in the Israeli mortgage market can allow you to tailor the loan to your needs as far as the loan period, monthly payments, etc.