Ever hear of a longer waiting period than 90 days? Paying for coverage for 51 years before coverage took effect brings cause for reflection…………….
By Bill Rusteberg
I received my government insurance Explanation of Benefits today for a colonoscopy I had 19 August 2017, about 14 weeks ago.
Wow, I thought, this is pretty good coverage indeed! What wonderful discounts! My out-of-pocket expenses were really low. Great coverage!
The anesthesiologist billed $720, but I got a spectacular 81.7% discount. Total allowed charge was a measly $131.46
The physician charge was $1,092.53, but I got a whopping 81.4% discount. Total allowed charge was a paltry $203.71
The facility charge was $1,481.00, but I got a dynamite 70.8% discount. Total allowed charge was ridiculously low at $432.47
My cost? An affordable $153.52 out of total billed charges of $3,293.53!
Then I realized……………………
I have paid for this coverage over the past 51 years. Yet it didn’t take effect until about 4 years ago. I am required to continue to pay for the coverage, the cost amounting to the equivalent of 2.9% of my income (Yes, I’m still working and liking it). On top of that I pay an additional $2,400 a year in “premium” for coverage for professional services.
So, lets’ see here – 51 years of “premiums” before coverage begins, plus continuing “premiums” once coverage starts amounting to thousands of dollars a year.
Man, this is damn expensive coverage!
