5 {{ upvoteCount | shortNum }}
5 {{ upvoteCount | shortNum }}

WOW! INSURANCE? IS IT POSSIBLE?

by seasoned
4 replies
  • OFF TOPIC
    • |
ALL know, and it is known even by little kids, that MOST sales/negotiated rates are at a PROFIT! They ALSO know that this is USUALLY done by charging a PREMIUM at other times! USUALLY, this is used to explain the disparity in shirt prices and/or steep discounts.

Please note that REAL fire sales, closeouts, tax sales, etc... DO exist and some ARE at a loss. Also, there ARE loss leaders.

Still, INSURANCE companies have NEGOTIATED rates! HINT!?!?!?!?

One hospital in California lists the price of a CT scan of the abdomen on its website at $4,423. Blue Shield of California says it negotiated a rate at the hospital of about $2,400 for patients with coverage.

But when the Los Angeles Times asked for the cash price, the hospital said it was $250.
WOW! AGAIN, when I was younger, and had an MRI(similar to a CT scan except it uses magnetic radiation instead of nuclear), they told me that if I had metal, etc... That it would take a LONG time and a LOT of power to restart it.

One other interesting fact. If true, this means tat insurance for that CT scan would almost DOUBLE your cost, since 20% of $2400 is $480.

Steve
  • Profile picture of the author KimW
    Insurance is a scam/ripoff in its current form.
    I honestly think it didn't use to be,but now it definitely is.
    Signature

    Read A Post.
    Subscribe to a Newsletter
    KimWinfrey.Com

    {{ DiscussionBoard.errors[6361948].message }}
  • Profile picture of the author seasoned
    Kim,

    Ironically, this is NOT about insurance, but HOSPITALS! But the whole insurance thing is STUPID!!!!!! Hospitals generally ******REFUSE****** to tell you the price! I have asked doctors, hospitals, and EVEN hospital administrators that deal with such things DAILY! The universal answer is that they can't even FATHOM a GUESS!!

    So HOW does it get paid? You wait until they cut the ****BILLS****! YEP, EVEN if you just have stitches, you could have SEVERAL bills. They often all come from the hospital, but they separate by unit, etc... Outside of basic labwork ONLY that I do, I have an average of 2 bills for everything. For my operation, I had several.

    BUT, that is not ALL! You CAN'T really get the bill because, if you do, the clock starts ticking, and YOU have to do a lot of extra work. ALSO, you would probably have to pay EVERY penny and hope the insurance company would pay the excess back. NOPE! They send the bill to the INSURANCE company, and it could be MONTHS before you get it. THEN you get it, or a summary, and must pay.

    So we are ISOLATED from making decisions about this stuff, and the costs of everyone go up.

    Steve
    {{ DiscussionBoard.errors[6362246].message }}
  • Profile picture of the author KimW
    I think I understand what you're saying Steve,but to me they are interrelated.

    What's even worse is the hospital sends the bill, the insurance pasy it,then a year down the road the insurance decides they didn't need to pay it so they pull the money back from the hospital and they the hospital bills you,and its legal.

    I did actually have this happen to me recently though. The hospital somehow forgot to send the bill and when they finally did it was over a year since the date of service. I called the insurance company and told them what happened.They told me that because it was they hospitals responsobility to get the paperwork to them within a specific time frma and they didn't,they,the insurance company didn't have to pay it. But,here is the interesting thing,they said I also don't have to pay it. Amazing.
    Signature

    Read A Post.
    Subscribe to a Newsletter
    KimWinfrey.Com

    {{ DiscussionBoard.errors[6362777].message }}
    • Profile picture of the author seasoned
      Originally Posted by KimW View Post

      I called the insurance company and told them what happened.They told me that because it was they hospitals responsobility to get the paperwork to them within a specific time frma and they didn't,they,the insurance company didn't have to pay it. But,here is the interesting thing,they said I also don't have to pay it. Amazing.
      Yeah, how can the hospital bill you, or expect you to pay? I rolled off a contract only about a week ago. You know how long I have before I can't submit new charges? NEXT TUESDAY! USUALLY you have about a month, but you get the idea. Phone companies apparently have an exemption, and can bill you 3 months after the fact. As I said, hospitals often do that ALSO, but a YEAR? COME ON! Besides, there is probably a CODIFIED limit to this. THAT is what is known as a statute of limitations. I bet it is WELL below a year!

      I TRIED to look this up, but it is an ODD question, so people assume what it is not. I asked for a statute of limitations on medical billing, and it gave me statute of limitations on medical collections. On collections, it is apparently usually 3 years, but can extend to 5. If a cost is stated up front, and you agree to it, in chicago, it can be 10! But that is the last day they can COLLECT! BTW the time starts when YOU are first notified. If they took 30 years to get you the bill, the last date could be 33 years! So OBVIOUSLY there should be a statute of limitations on the NOTICE! ANYWAY, I would say TALK WITH A LAWYER! They may say DON'T PAY! If you pay, you may obligate yourself to the full amount. The law can be WEIRD that way!

      Steve
      {{ DiscussionBoard.errors[6362915].message }}

Trending Topics