Background on high-deductible plans or otherwise known
as “consumer-driven healthcare.”
According to the Leapfrog Group, 1 in 5 are now
utilizing plans that are high-deductible or consumer-driven healthcare plans. One
of the characteristics of these types of plans are that the patient is
responsible for the first $1,000 or more. As stated on HealthCare.gov, the annual
out-of-pocket maximum/limit can go up to 6,600 for an individual or $13,200 for
a family. The benefit for a higher out-of-pocket is a lower monthly premium,
but even with the best planning, one cannot truly prepare for the costs
associated with an unexpected illness that may require a hospitalization or
outpatient services.
What is this doing to the healthcare consumer? How do
they pay for services that fall into this valley of co-pays and deductibles?
Well, there are an increasing amount of finance options to help out. For
example, there is one called Healthcare Finance Solutions that can offer short
term loans for as little as 0% for the consumer and the provider can be paid
within 48 hours. In addition, they offer infrastructure that will support the
registration clerks and admissions staff as they are meeting with a patient or
their family that will enable them to access the system and process their
application in no time at all. Everything is integrated into the EMR or as a
stand-alone that has easy access for the registration clerk or admissions
staff. Now, the facility can collect upfront these large deductible plans, give
the patient peace of mind that their financial responsibility is taken care of,
and their focus can now be centered on getting better. More importantly, this
can take the question of should I get this procedure done to when do I want to
get this procedure done.
Most people, if not all, sign up for the
high-deductible plans base on the monthly premium. I hope that over the next
year a more robust education process is afforded to the purchaser of healthcare
so as to avoid, this seemingly, one dimensional decision process.
HealthCare.gov. 2014a. Out-of-pocket
maximum/limit. Retrieved from https://www.healthcare.gov/glossary/out-of-pocket-maximum-limit/
Leapfroggroup.org. 2013. High Deductible Health
Plans & The New Era of Consumerism in Healthcare. Retrieved from http://www.leapfroggroup.org/media/file/AnnualMeeting2013Program.pdf
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