Breaking Bad Insurance Habits

Breaking Bad Insurance Habits

Let's just start today's conversation with saying that research shows that 33% of healthcare consumers opted out of seeking medical care during the pandemic for fear of incurring unknown medical debt, why you ask? The answer could be one you already know, and have dealt with on a regular basis when seeking out medical help, medical debt. Healthcare in America is one of those few services you are accustomed to paying after the fact. This is one of the bad habits we have been trained to do, and it costs Americans thousands of dollars each year.. 

The average Person in our country has at least $10,000 in debt, and we at Medishield have seen debt go to 7 times that. Is this the way it has to be? Absolutely not! For some reason Americans find asking for the cost of medical procedures upfront embarrassing or uncomfortable. The habit of asking for cost up front, in actuality, is a simple way of avoiding the headache of medical debt. It is important to remember that if and when you ask the cost they refuse to tell you, it's time to find a new doctor that will.

For too long now medical providers have kept the closely guarded secret of cost to the patients a closely guarded secret. Why is it that these providers are so scared of? Why is it that they shiver at the thought of knowing what we are going to pay upfront, just like everything else you buy in this country? The answer is simple, profit loss. Currently it is a widely reported fact that consumers in America owe $140 Billion to medical providers. An income provider does not want to miss out on.

Current transparency laws are put in place to help avoid the surprise billing that doctors in and out-of-network love to gauge the consumer with. This is just one of the many tools the consumer should have in their arsenal when dealing with providers, but the simple act of asking “what will it cost,” is the most powerful tool the consumer has. 

As advocates we deal daily with push back from medical providers claiming they do not know, or are not able to disclose providing the cost upfront. The truth is that they do know, but are just unwilling to disclose the cost, even though legally they are bound to. The power of the consumer is underestimated by these organizations. For them the bottom line is more important than worrying about their patients acquiring medical debt. We, like you, find this practice very immoral, and not suitable for a free market economy. 

In order for price transparency to be functional it will require cooperation from all levels of the healthcare system. The consumer has the right to receive a good-faith estimate explaining how much your medical care will cost. In the past this privilege was awarded mostly to self pay and uninsured patients, but due to the current No Surprises Act it now applies to insured and uninsured. Which means you should make it a priority to start asking upfront what the cost of your medical care will be. The next step in transparency will be coming this June when insurance providers will be required to disclose negotiated pricing to the consumer, allowing you to see what contracted rates they have with medical providers.

Breaking the bad habit of not asking, and expecting to know the cost for medical procedures after the fact, is costing Americans when it comes to their pocketbook. Now the consumer has tools to help them better understand how their insurance works, what it covers , and what the out of pocket cost will be upfront. This is what we at MediShield refer to as advocacy. MediShield is a program with a low monthly subscription that will help you deal with providers and insurance companies, and the highlight of this program is that it does so on your behalf. Medishield is not tied down to an insurer or provider, but instead answers only to the consumer. MediShield’s main goal is to show you how to become a consumer of your healthcare, and not a victim of your insurance.

To learn more about advocacy, and how you can learn to shop smarter for healthcare click below to get in touch with an expert!