Insurance Broker | Financial Consultant, Lawrence Insurance Consulting, Southern New Jersey
Retail Costs:
Urgent Care and Labs $217
ER Visit $1115
Drugs (steroid) $28
Radiology (chest X-ray) $152
Radiologist (to read chest X-ray) $54 Respiratory (nebulizer) $92 Take home prescriptions $76.06 ($45 was for the eye drop that I didn’t have a sample of, darn!) Total cost to be sick: $1734.06 Now, even though we have a high deductible and everything applies to that, I don’t have to pay this cost out of pocket. Because the providers we used accept assignment, our insurance company sets a cap on how much they will pay for a service. Because of that, we get a discounted rate, which lowers the cost to $1308.51, almost a 25% discount. Whether you agree or not, those are the rules.
Since we will pay with HSA money, this will also save about another $327 in taxes. If you have to pay any out of pocket costs for health care services or medicines, I strongly suggest looking into this type plan. What if You Don’t Have Insurance?
If you don’t have insurance, you could be looking at full price. I know for a fact that our hospital offers a 30% discount if you pay all at once with a cash or a check. They also set up payment plans, but you lose the discount and get a penalty if you miss a payment. Not all hospitals will work with patients, so you could be forced to use credit or get sent to collections if you can’t pay. This amount is not likely to bankrupt anyone, but what if my daughter had been admitted for pneumonia or something worse? I think going without health insurance is just too much of a risk.
Finally, it really makes me mad when I have to admit that I thought about costs and money before taking my sick kid to the emergency room. Honestly, I would have probably done the same thing, even if I knew it would have been $5000 or $10,000, but how many people have to weigh getting needed health care with how much money they have in the bank? I don’t have an answer, but I’m repeatedly reminded about the crazy cost of health care in the US, and right now, I’d rather my tax dollars go toward some sort of solution rather than funding things that do me no good.
.JPG){kind=avatar}
Urgent Care and Labs $217
ER Visit $1115
Drugs (steroid) $28
Radiology (chest X-ray) $152
Radiologist (to read chest X-ray) $54
Respiratory (nebulizer) $92
Take home prescriptions $76.06 ($45 was for the eye drop that I didn’t have a sample of, darn!)
Total cost to be sick: $1734.06
Now, even though we have a high deductible and everything applies to that, I don’t have to pay this cost out of pocket. Because the providers we used accept assignment, our insurance company sets a cap on how much they will pay for a service. Because of that, we get a discounted rate, which lowers the cost to $1308.51, almost a 25% discount. Whether you agree or not, those are the rules.
Since we will pay with HSA money, this will also save about another $327 in taxes. If you have to pay any out of pocket costs for health care services or medicines, I strongly suggest looking into this type plan.
What if You Don’t Have Insurance?
If you don’t have insurance, you could be looking at full price. I know for a fact that our hospital offers a 30% discount if you pay all at once with a cash or a check. They also set up payment plans, but you lose the discount and get a penalty if you miss a payment. Not all hospitals will work with patients, so you could be forced to use credit or get sent to collections if you can’t pay. This amount is not likely to bankrupt anyone, but what if my daughter had been admitted for pneumonia or something worse? I think going without health insurance is just too much of a risk.
Finally, it really makes me mad when I have to admit that I thought about costs and money before taking my sick kid to the emergency room. Honestly, I would have probably done the same thing, even if I knew it would have been $5000 or $10,000, but how many people have to weigh getting needed health care with how much money they have in the bank? I don’t have an answer, but I’m repeatedly reminded about the crazy cost of health care in the US, and right now, I’d rather my tax dollars go toward some sort of solution rather than funding things that do me no good.