It’s open enrollment season again. I’m sharing my experience with choosing an insurance plan that doesn’t cover my doctors and ending up saving money on both insurance and out-of-pocket expenses.
The dermatologist examined the spots. She told me not to worry. Those spots weren’t skin cancer. No treatment was necessary. Great. There, four years later, paying cash to see the doctor out of network cost less than half of seeing the same doctor in-network with insurance.This is not unique to health care. Insurance is seen as having a deeper pocket — a better ability to pay. When I wanted to have a broken windshield replaced for my car, every glass shop quoted me two prices: going through insurance or not going through insurance. The price for going through insurance was about 50% higher than paying cash.
While it’s true the amount you pay for out-of-network doctors won’t count toward your deductible, when you have little chance to meet the deductible anyway, counting or not counting toward the deductible is moot. Even if in one year you would’ve met the deductible otherwise, the money you save in other years will make up for it.
600,000 plus per year are bankrupted by medical bills in the US. It is the single greatest reason for bankruptcy. Don’t let a couple of cases fool you into thinking health coverage for all is not crucial for the future of the US.
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