Cash pay may be better option for insured patients
Individual patients may fare better financially if they pay for out-of-pocket for some services, rather than allowing their insurance to cover it, The Street.com has reported.
Patients who offer to pay cash–an option usually reserved for those who lack health insurance–may wind up paying just a fraction of the cost for the service if they used their coverage, according to The Street. It noted that as many as 80 percent of Americans fail to meet their annual insurance deductibles.
“If you are like many consumers, you are a long way from meeting a deductible of $4,000 or $6,000, so using your insurance to pay for a $300 ultrasound instead of paying $111 yourself offers no financial gains,” the article said.
Read the full article: FierceHealth Finance