When reviewing health plans and assessing costs, remember that health insurance is not designed to cover every penny related to health care.
Anything under the sun on an open credit card is nice, but not when you’re paying the bill. But you are.
The purpose of insurance is to cover sudden, very expensive losses. It’s about making you whole again and not having the financial responsibility of spending a ton of money to do this. Somehow, over the past 60 years, we’ve all decided that the traditional plan should pay for everything.
Health insurance is, for the most part, the only insurance product that pays for coverage like doctor visits and prescription drugs for the first dollar. The healthcare system downplayed the system on the larger bank account that foots the bill, not the little guy. The fronts have turned…
Employees take more responsibility for their health care by paying more premium dollars from their check and higher expenses. Employers should encourage their employees to be more proactive in their healthcare. Here are a few ideas:
Don’t run to the emergency room or doctor’s office for every little thing. What happened to home remedies or waiting for the doctor instead of running to the emergency room? This will save you thousands in a year if you have children.
Try to save money on medication by finding alternatives. Sometimes, skipping the medication may not affect your health but will make you keep going to the doctor. The other thing you can do is look around. Just because they’re convenient doesn’t mean they’re the most cost-effective.
Just because your doctor recommends a test doesn’t mean you have to go ahead and have it done right away. The doctor has gone through school for many years, but they also try to do tests to protect them and get paid. Ask more questions to see if you feel it’s the right thing to do. Just as you would if your mechanic suggested items. It’s your money.
If you are planning a procedure, look around. Many new facilities are emerging to reduce costs from outpatient testing to outpatient surgical facilities. The hospital is not the cheapest. Far from it. This drives up the price for you and the insurance company.
You don’t have to go to a state-of-the-art teaching hospital for most things. There is a time and place for the advanced care that some of the dominant teaching hospitals are bringing to the table. However, for most things, people go through their overkill and overload.
It ends up costing you more money, either in the form of out-of-pocket expenses or rewards. There is no free lunch.
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