Electric Scooter Financing - The Basics

Electric Scooter Financing - The Basics

Electric scooters offer seniors as well as disabled individuals greater mobility indoors and outdoors.

However, electric scooters are relatively expensive, often ranging between $550 to over $1,500 depending on model, size, and accessories. Understanding electric scooter financing may help seniors and caregivers purchase models that offer greater mobility, peace of mind, and independence for their loved ones.

electric scooter financing

Financing Options

Of course, a senior or caregiver may purchase an electric scooter, also known as a personal mobility device or light electric vehicle, in cash, but many seniors living on subsidized or Social Security or pension incomes don't have the luxury of paying for an electric scooter outright. Some of the most common electric scooter financing options for electric scooters include:

Buzzaround Lite Travel Scooter - GB-106
  • Financing with businesses that sell mobility scooters
  • Medicare or Medicaid services
  • Private health insurance

For seniors who qualify, Medicare can pay up to 80% of the cost of an electric scooter. Medicare considers electric scooters to be Durable Medical Equipment, which include but are not limited to walkers, wheelchairs, another mobility devices.

Basic requirements for Medicare payment include:

  • The electric scooter or chair as prescribed by the primary care provider.
  • An electric chair or scooter is required for mobility in the home.
  • An individual is unable to manually operate a wheelchair.
  • The individual does not suffer from any cognitive or judgment condition, or vision impairments that will limit use of the scooter.
  • The individual must have sufficient strength and posture as well as stability to operate the electric scooter.
  • The senior's primary care provider must have valid national provider identification (NPI)
  • The senior's primary care provider must be enrolled in the Medicare Provider Enrollment, Chain and Ownership System (PECOS).

In some cases, a senior's medical or health insurance plan may help to cover the cost of an electric scooter, but plan options, payments, and restrictions may apply. Seniors interested in utilizing Medicare to help pay for an elector scooter should make sure that the electric scooter supplier is an authorized Medicare provider.

Pilot 2410 Standard Scooter - PILOT 2410 BL 18CC

Some scooter suppliers submit Medicare claims, saving the senior or their caregivers time and stress. Medicare payments offer what are known as allowable amounts under Medicare Part B, which determine the amount that Medicare will reimburse for various products or supplies.

Medicare normally reimburses 80% of this allowable amount on eligible items, with the consumer paying for the remaining 20% of costs. Supplemental insurance or Medicaid may also help pick up the remaining 20%.

Medicare may also require the primary health provider, a physician's assistant, nurse practitioner or clinical nurse specialist to prescribe the exact type of equipment required. These professional are also required to fill out a special form, which is then sent to Medicare for approval of the equipment. Such a document is called a Certificate of Medical Necessity. For additional information regarding cost of durable medical equipment as well as coverage, consumers may call -800-633-4227, or access Medicare.gov

In some cases, private insurance may pay up to 50% of the cost of a scooter, which leaves the senior responsible for the remaining 50%. In such cases, it's often advisable for the senior to make payment plans directly with the electric scooter provider, if possible.

Individuals receiving Medicaid may also receive reimbursement for cost of an electric scooter as long as they're eligible for coverage. In many cases, Medicaid will pay portions of costs that Medicare doesn't cover.

Bottom Line

When looking for an electric scooter as well as electric scooter financing, make sure dealers are approved by Medicare in order to receive reimbursement. Talk with a primary health care provider regarding the Certificate of Medical Necessity. Once that has been done, take the time to compare models, sizes, and pricing options to benefit from the mobility and freedom and electric scooter can offer.

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