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Old 08-16-2019, 09:44 AM
AZRWinger AZRWinger is offline
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Default Re: Record 4.4M Britons waiting for non-urgent surgery, gov't figures show

Quote:
Originally Posted by GottaGo View Post
Why don't we ALL save a bundle and eliminate the stranglehold insurance companies currently have?

As a comparative: I needed xrays for my back - chiropractic issues. My Chiro suggested two things: Go through my insurance, and it would cost me about $150, since it would be applied to my deductible, or pay $50 cash with no insurance involvement.

Guess which one I chose?

Same chiro - pay cash, adjustment is $40. Insurance claim? $60 co-pay.

Is the point clearer now?
Without knowing your estimated medical expenses for the year, the total deductible, out of pocket maximum and factoring in your premium it's difficult to say if you got a better deal paying your chiropractor directly or for the xray in cash. If you have a high deductible catastrophic care plan and you don't anticipate exceeding the deductible it might make sense to pay cash. If you have a low deductible and anticipate high medical expenses it might make sense to process an insurance claim. Still other factors are out of pocket maximums on your policy and the ratio of premium to utilization cost.

Obamacare administrators were surprised at the popularity of the most expensive gold plans among early enrollees. They had predicted most people would opt for the less expensive bronze plans. It turned out people with significant health issues were attracted to the lower deductible and lower out of pocket maximums offered in the gold plan. Insurance companies took a beating for the miscalculation.
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