Thursday, September 4, 2014

Patients, will your deductible be met?

When you buy insurance, what coverage do you expect to get from it?  Are you looking to get an inexpensive plan and expect full coverage or are you willing to pay a little more and know that your covered.  If you've chosen the inexpensive plan, such as a "bronze" plan, you may begin to find that it wasn't the best option in the long run once you're surprised with an expensive copay after your next visit.  Also, besides the copay charge you may have to pay full price for your visit as well.  Since these issues have been quickly emerging, experts are afraid that patients may be discouraged from following up with their doctors after getting charged full price for their previous visit.  Carl McDonald, senior analyst with Citi Investment Research said, "This could be the next shoe to drop, as people don't realize that if they're buying a bronze plan, they may have to pay $5,000 out of pocket before it contributes a penny." When McDonald said this at a Washington D.C conference last month he was arguing that if you try to save money on healthcare in the moment, it may catch up to you in the long run and cost you more.

What about a plan that is a little more expensive?  Plans such as "Silver" plans, generally have a higher monthly deductible but they do cover 3/4 of doctor visits before the deductible is met.  With this plan, you won't have to worry about being covered when you see the doctor or being surprised by a hefty bill.  Of course, the coverage may still vary if you go to see a specialist for an extreme reason and not an ordinary doctor visit.

However, all new insurance plans are required by the government to cover some preventative services without a copayment as well as not having met the patients deductible first.  Such plans include: "vaccinations, mammograms, other cancer screenings, contraception, birth control pills, and physicals." But charges may be applied if treatment is needed for an illness such as the Flu, a medical condition, or a minor injury.  Also, there is only limited coverage for prescription drugs.  After hearing this which plan do you think is best to get in the long run?  Will you choose to save money in the beginning with a cheaper deductible but have copayments and full bills, OR go with a plan that offers better coverage off the bat even though it has a higher deductible? The next time you look for a new plan, think about your long term coverage so you know you'll be covered.

EVERA. Everyone should feel this good about healthcare.



Source: http://www.kaiserhealthnews.org/stories/2013/december/23/consumers-with-less-expensive-plans-spend-thousands-before-coverage-begins.aspx


  

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