by Melinda Beck | Wall Street Journal | February 15, 2016
How to Cut Your Health-Care Bill: Pay Cash
Sovereign Solutions Editor’s Note:
The basics of the featured post are that you can save lots of money if you pay in cash for medical services.
Per usual there is a catch.
It depends upon your circumstances; there are some basic analyses to be had.
I hope, in addition to you perhaps finding new ground to tread in your healthcare payment forays, that you will question the value of healthcare “insurance” such as it is–it really is not even insurance after all!
I will you leave you with the two items, in quoted format, that I found most disturbing from the featured article:
- “Self-pay discounts, however, do present patients with a dilemma: Most insurers won’t count cash payments toward their deductibles. So savvy health-care shoppers have to guess whether they are likely to have a major medical expense during the year, or stay relatively healthy and thus save money by paying cash.”
- “Finding the negotiated rates for those same services is tougher, since many insurance contracts bar payers and providers from disclosing them.”
Isn’t it pretty obvious that with those two points alone we see a concerted effort to deny price discovery in the healthcare services market?
In addition, there very much is an effort to prevent individuals from at least being able to use their inefficient “insurance” product in the most useful and beneficial way possible.
Thankfully, there are growing transparency trends. Please make use of them, as there is a whole lot of opportunity to save and save big.