Excessive use of your health insurance

When reviewing health plans and evaluating costs, keep in mind that health insurance is not designed to cover every cent related to health care.

Anything under the sun on an open credit card is nice, but not if you’re paying the bill. But you are.

The purpose of insurance is to cover sudden, very expensive losses. It’s about getting you healthy again and not having the financial responsibility of a ton of money to do it. Somehow, for the past 60 years, we’ve all decided that the traditional plan should pay for everything.

For the most part, health insurance is the only insurance product that pays for first-dollar coverage, such as doctor visits and prescription drugs. The health care system played the system on the bigger bank account that paid the bill, not the little guy. The roles are reversed…

Employees are more responsible for their health care by paying more for premium dollars from their check and higher fees. Employers should involve their employees in being more proactive in their care. Here are a few ideas:

  1. Don’t run to the emergency room or doctor’s office for every little thing. What happened to home remedies or waiting for the doctor instead of running to the emergency room? This will save you thousands a year if you have children.
  2. Try to save money on medicines by looking for alternatives. Sometimes skipping the drug won’t affect your health but will keep you coming back to the doctor. The other thing you can do is look around. Just because they’re convenient doesn’t mean it’s the most cost-effective.
  3. Just because your doctor recommends a test doesn’t mean you should jump in and get it done. The doctor has gone through many years of school, but they also try to run tests to protect them and get paid. Ask more questions to see if you think this is the right one. Just like you would if your mechanic suggested items. It’s your money.
  4. If you’re planning a procedure, take a look around. Many new facilities are emerging to help reduce costs from outpatient testing to outpatient surgical facilities. The hospital is not the cheapest. Far from. This ultimately drives up the price for you and the insurance company.
  5. You don’t have to go to a state-of-the-art teaching hospital for most things. There is a time and place for the advanced care that some of the major teaching hospitals are bringing to the table. However, for most things, people go through overkill and overcharge.
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In the end, it will end up costing you more money, either in out-of-pocket expense or premium. There is no free lunch.