Saving Money on Out-Of-Pocket Expenses
We start by helping you find a plan that meets your needs at a price you can afford. However, you will still spend way too much money if you don’t learn to cut the expenses you are still responsible for. There are so many ways to do this, and we are here year round to help our clients learn how.
The first is one that you have to learn how to handle right away. Each time you go for care you may be responsible for part, or all, of the cost of that service. The biggest mistake people make is that they don’t know that they aren’t responsible for 100% of costs while they have not yet reached their deductible. There are many clubs in this country where you show your card to get a discount so you don’t pay regular retail prices. Your insurance card is the best buyer’s club membership you could have. I have seen discounts of up to 90% on lab work and other services.
Here is an Explanation of Benefits form. This shows how much of a discount was applied to each service when the patient stayed in network. First is the charge, then the network savings are applied, and finally is the actual amount the Dr or facility was paid. (Notice the lab work billed at $2,730 and actually paid at $239.) In this case the patient had hit their out of pocket maximum so the patient owed nothing. If the patient had still been responsible for the deductible, then they would have owed the amount showing under “Paid Provider”. This is why it is so important to have the insurance company review the bill before you pay the provider. Most providers will allow you to pay after the review, but if they want payment up front then offer to pay about 25% as good faith until the insurance company has a chance to review it. Your insurance card has incredible value even before you meet your deductible!!
GoodRx.com – Price your prescription at multiple stores, or download coupons that apply
Health Care Blue Book – Price tests and service, and even download an agreement of price to use
Medibid.com – Get bids from multiple providers for all kinds of services from MRIs to surgeries
“I’m so grateful for Chris and the help she has provided to my family and I year after year in navigating the confusing world of healthcare. She has consistently directed us to the right plan for our circumstances. I highly recommend Health Coverage Today to anyone looking for the best and most affordable plans on the market.”