Global Courant
When reviewing health plans and evaluating costs, keep in mind 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 pay the bill. But you are.
The purpose of insurance is to cover sudden very expensive losses. It’s about becoming whole again and not having the financial responsibility of a ton of money to do it. Somehow, over the past 60 years, we’ve all decided that the traditional plan should pay for everything.
For the most part, health insurance is the only insurance product that pays for first-dollar coverage, such as doctor visits and prescription drugs. The healthcare system played the system on the bigger bank account to pay the bill, not the little guy. The roles are reversed…
Employees are more responsible for their health care by paying more for premium dollars from their check and higher costs. Employers should push their employees to be more proactive in their health care. Here are a few ideas:
- Don’t run to the ER or the doctor for every little thing. What happened to home remedies or waiting to see the doctor instead of running to the ER? This will save you thousands in a year if you have kids.
- Try to save money on medicines by finding alternatives. Sometimes skipping the drug won’t affect your health, but keep you coming back 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 should jump in and get it done. The doctor has gone through many years of school, but they also try to run tests to protect them and get paid. Ask more questions to see if you think this is the right thing to do. Just like you would if your mechanic suggested items. It’s your money.
- If you are planning a procedure, take a look around. Many new facilities are appearing to help lower the cost of outpatient testing to outpatient surgical facilities. The hospital is not the cheapest. Far from it. This ultimately drives up the price for you and the insurance company.
- You don’t need 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 predominant teaching hospitals are bringing to the table. However, for most things, people go on to overkill and overcharge.
It ends up costing you more money, either in out-of-pocket expenses or premium. There is no free lunch.
Excessive use of your health insurance
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