Cash is king because it lowers the cost of providing care. The doctor doesn’t have to deal with insurance billing, delayed payment or collections. That’s about 25-30% of their overhead. Our independent providers don’t charge “facility fees” which are allowed by...
What Is Price Transparency? Price Transparency Have you ever felt like you were playing the shell game when paying for healthcare? Many of us feel that way. If healthcare providers acted like any responsible retailer, they would clearly posted...
Co-Insurance is way to split payment for specific services between you and your insurer. Typically only certain high cost services will have a co-insurance payment, like hospitalization. With a co-insurance amount (usually a percentage of the allowable charge), you...
The Short Answer: It depends. You have to read your policy very closely.
A set amount you must pay out-of-pocket each time you use a particular service, such as a doctor visit. So if a doctor visit is $100, you might pay a $10 co-pay and your insurance would pay $90, once...
Healthcare sharing ministries (HSMs) are non-profit organizations that have created a mechanism for sharing health care costs among members who have common ethical or religious beliefs. An HSM does not offer health insurance. Rather, they offer to share healthcare expense...
The Short Answer: Deductibles are a major part of any health plan. The deductible amount for your health plan is the amount of money you must pay for healthcare in one year before you insurance company pays (instead of...
High-deductible health plans (HDHPs) are more common than ever. The reason is simple, the cost is a lot less expensive than traditional plans like PPOs and HMOs. But there’s a lot of confusion about what exactly they are and how they...
High-deductible health plans (HDHPs) are more common than ever. The reason is simple, the cost is a lot less expensive than traditional plans like PPOs and HMOs. But there’s a lot of confusion about what exactly they are and...
An HSA is a tax free savings account that allows you to set aside pretax money to cover health care not covered by your insurance. To be eligible for an HSA in 2020, you must have a qualifying, high-deductible...