We often hear about how the advent of medical insurance is responsible for sky-high costs of care. In the two years now that I have been self-employed and paying for my own insurance (just a catastrophic coverage plan with a $7,000 - yes seven thousand - deductible), I have seen evidence of that being the case.
Recently, I had a minor surgical procedure performed. The amount presented to the insurance company (BCBS) for being applied toward my out-of-pocket deductible will total around $1,350. The amount I paid on my credit card (I get 2% back on it) was $470. The cost for surgical consultation cast me $95, but the insurance record shows $475. That's a significant difference.
Melanie recently got a 10% discount on having a tooth crown replaced by paying cash. The key is to ask.
An honest assessment is that if it were not for the doctors being able to collect the higher amounts from insurance companies, my costs would have been higher. It is like when doctors have to settle for the very low amounts paid to them by Medicare and Medicaid - others pay more to compensate.
The only better deal is to sneak into the country illegally and get you to pay for it all.
- Kirt Blattenberger
RF Cafe Progenitor & Webmaster