Wait for the EOB
EOB stands for Explanation of Benefits.
It’s the form from your insurance company that shows how much your healthcare provider was reimbursed for your office visit, lab work, x-rays, etc.
Typically it arrives at your house before the individual bills from the provider, which show the balance owing, or what you are expected to pay.
Keep this in mind: Don’t pay a medical bill until you’ve compared the services and charges to your EOB!
Insurance claims can be wrong
A few months ago my husband had his annual physical. About a week before his visit, he … Continue reading
Traditional and expensive
This week I received a letter from my health insurance company. My plan’s benefits will remain the same, but the monthly premium will be 21% higher.
That means health insurance for me and my husband now officially costs more than our mortgage. And it’s just a bronze-level plan with a $7,000 deductible (each)!
I really feel for other families receiving similar letters about similar rate hikes. Some families will have to make a difficult decision—will health insurance in 2018 be just too expensive?
There are alternatives to traditional health insurance policies, and I’ve posted about them before. … Continue reading
Higher drug prices = higher health costs
Soon we’ll be finding out how much our health insurance will cost next year. Premiums are set to rise by double digits across the country.
Related post: Premium increases for 2018. Ouch
While uncertainty about the future of the Affordable Care Act (ACA) is partly responsible, insurance companies put the biggest blame on the skyrocketing cost of prescription drugs.
Why are prescription drugs so expensive? To understand the problem in less than 2 minutes, watch this YouTube video…
As the video points out, Medicare can’t negotiate lower … Continue reading
With the news of another massive hepatitis A outbreak in San Diego, I wanted to re-publish this post from Sept. 2016 about hepatitis A and encourage everyone to get vaccinated! FN
Hepatitis A outbreaks
This morning I read about a hepatitis A outbreak in Virginia. The source is apparently contaminated strawberries used to make smoothies. So far, 40 people have become sick.
This outbreak follows on the heels of another in Hawaii, where 168 cases of the virus have been linked to frozen scallops.
Let these outbreaks be a reminder or an incentive to anyone NOT vaccinated against … Continue reading
Just last week, the Food and Drug Administration (FDA) approved a new epinephrine auto-injector, Symjepi.
I don’t much like the name, but if it’s cheaper…!
I’ve posted several times about the skyrocketing cost of EpiPens—over 500% in the last 10 years.
Anyone who, like me, has been shocked at the pharmacy to discover how much a two-pack of EpiPens costs will be hoping Symjepi will be more affordable.
It won’t be available on the market until later this year, so I don’t know yet how much it will cost. But Adamis Pharmceuticals, the company that makes Symjepi, … Continue reading
My peek into the future
Health insurance companies in my state finally submitted their requests for 2018 rate hikes.
Usually I can look up this info online by mid-May, but all the partisan and intra-party bickering over the future of healthcare in this country has left insurance companies scratching their figurative heads over how to price next year’s policies.
I remember a time when I never gave my health insurance much thought. Like my car or home insurance, it didn’t change much year to year, and was simply there when I needed it.
But for the last ten years or … Continue reading
My guest post today is from Matthew Bahr, a healthcare finance specialist.
I’ve posted about surprise medical bills before. Sadly, they are becoming more common as healthcare costs continue to rise and provider networks shrink.
Consumer Reports estimates about one third of patients with health insurance receive these unexpectedly high medical bills.
Thank you, Matthew, for sharing your tips and expertise with my readers! FN
Although we know healthcare costs a lot of money, it still stings when we see that bill.
You might think because you’re insured, your insurance will cover most or many of the costs. But … Continue reading
More tests = more money
Anyone who has read my blog over the years knows this is a subject I come back to again and again: the overuse of screening and diagnostic tests.
It’s a problem in our healthcare system for a couple of reasons.
First, the majority of healthcare providers are paid based on volume. In other words, the more patients they see, the more tests they run, the more surgeries they perform, then the more they get paid. It doesn’t matter if the outcome is poor, because they still get paid. In fact, they make even more money … Continue reading
This guest post is from a good friend of mine. She’s not in the healthcare industry, but she is one of the most savvy healthcare consumers I know. When she was telling me about some of her recent dealings with providers and insurance, I immediately asked her to write up her experiences to share with my readers!
I don’t willingly part with my money, especially when I see a healthcare provider.
I question unnecessary tests, and I don’t want the office staff to be cavalier about spending my money. I expect the office to be familiar with my insurance plan, … Continue reading
Happy New (Calendar) Year!
It’s the start of a new year or, in health insurance lingo, the start of a new calendar year deductible. I’m reposting this from last January, because this month is the best time to start trying to schedule that annual exam or annual wellness visit (it could take weeks, after all, to get an appointment!).
I usually advise people to get any screening tests or annual exams done early in the year, just in case an abnormality is found and more testing/treatment is necessary.
Especially with the current trend towards enormous deductibles (up to $14,300 for … Continue reading