You Want How Much!
If people would shop around for health care like they do for everything else they would be amazed at the savings they can achieve.
Our swimming pool filters are shot, kaput, having lasted over 6 years and in need of replacement. So I called Leslies Pool for a price. Cost quoted was $720 “but we have to order them.” Then I called Pool Guy who I found on the internet. Cost quoted for the same filters with matching serial numbers was $280, free shipping to our door arriving tomorrow included.
I don’t have Pool Filter insurance with a $30 co-pay otherwise I just might have ordered the Leslie filters for $720. Other people’s money would pay $690 difference but that’s their problem, not mine.
The problem with today’s legacy health insurance plans is clear. Insuring simple office visits makes no sense. Insuring a $6 cbc test is dumb too. Paying for a $45,000 knee replacement when you can get one down the street for $15,000 is insanity.
Cash paid health care at the point of service beats the so called “discounts” the BUCA’s tout in their sales pitch.
Here’s an example that happened yesterday illustrating what can happen when cash replaces insurance. It’s an unbelievable story you will find amazing. It was relayed to me by an associate of ours:
Patient was already in the hospital recovering from a surgical procedure. As he laid recovering in his hospital bed he remembered hearing at Open Enrollment plan members were advised to call a concierge service 800 number prior to seeking covered care in order to receive free care. So he called the 800 number from his hospital bed to notify the concierge service of his admission. He wanted to know if it was too late to arrange a plan paid cash payment that would eliminate his deductible and co-insurance expenses.
By the end of the day a plan paid cash payment equivalent of 75% of Medicare was paid, accepted by the hospital as payment in full. Patient enjoyed free care.
The lesson here is we don’t need to rely on health insurance as the only method to finance health care anymore than we expect coverage through company paid Pool Filter insurance.
More plan sponsors are realizing there is a much better way to pay for health care.