Your health insurance is constantly changing. You may have new insurance. Your doctor may be retiring. You may have to start over each and every year. The insurers will tell you over and over how costly it will be to get care out of their network. Is it really more expensive? We’ll break it down below.
1. Stick to What You Know
Those of you who have been lucky enough to keep the same insurance and providers for the last several years should stick to it. You know your doctors, they know you. You know what you will be charged. Feel free to do research on new procedures and treatments you may need. Otherwise, standing still is a good strategy.
2. How Health Insurance Works
Insurance companies negotiate rates with their providers in order to help bring down rates. The healthcare providers who have agreed to the rates are referred to as in network and can include anyone from doctors, specialists, hospitals, and treatment centers. Some insurance plans can cover the cost of an out-of-network visit, but only in an emergency situation. In other scenarios you may be held responsible for the full dollar amount of your care.
3. Why Go Out of Network?
Insurance nowadays can have huge deductibles well into the thousands of dollars. This amount may never be reached if you just need the standard care. Take this example into mind.
The blogger known as the Finance Buff noticed a few strange moles and decided to get them checked out. He wanted to see his old dermatologist. However, she was no longer in his network. He called the office and informed them he would pay cash. They offered him a decent rate. He paid it within the allotted time frame to avoid extra fees. When he compared what he had paid this time compared to before, it was nearly half the amount.
5. Cash First Can be Cheaper
Many healthcare providers don’t want to deal with the hassle of insurance paperwork any more than you do. Many of them can also offer you a decent cash rate. Feel free to call around and see how much a visit, procedure, etc. will cost you before making a decision. You may see it can be cheaper to go out of network than to meet your deductible, co-pay, or other costs.
You should also consider wellness clinics in your local pharmacy. They can charge as little as $40 per visit and perform many tasks your regular doctor can. Best of all, you can walk in if you have an urgent matter. Be sure to call 911 in the case of emergencies.
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