Health Insurance As Currency: A Different Perspective


The “Health Insurance Card” and Health Insurance have become significant in normal life. These two gadgets have, in a way, taken on an existence of their personal. Amidst modern-day fervent, raging, and emotionally charged debate over health care reform, Health Care Insurance’s complete concept should be re-evaluated. This is simply one healthcare practitioner’s perspective on one small element of healthcare delivery. It is fueled by my confusion that patients do not understand their duty to charge of the offerings (care) they obtain (buy). It is as though fitness care has been devalued to the point that we don’t comprehend paying for it.

Health Insurance As Currency

There is a lot of confusion regarding the function and use of medical health insurance. Health care insurance is a product. It is offered to you, the customer, via organizations. The business’ product is “health care insurance.” Coverage varies depending on the plan that you purchase. The cost of the “plan” varies depending on the scope of the insurance. Like the size, the best performance of a car may also vary depending on the rate you’re willing to pay. The more you play, the greater you get. Healthcare insurance coverage works in the same manner.

Companies supplying health care coverage are profit-making companies. They are not charities. I hear a lot of mumbling (ok, it’s greater like shouting) about the profits those organizations are making. Many people own inventory in these businesses through our mutual funds. They are speculated to be worthwhile. Why do we think ethical dilemmas are inherent in cashing in to help someone enhance their health? Why need to save existence, fix pores and skin rash hassle, or counsel someone on being a higher figure be non-worthwhile ventures? Can I be the handiest one seeing the benefit in all of those? I might pay for those. And if we would not pay for these offerings, is it the offerings themselves or ourselves that we fail to feed?

Most people don’t even recognize the biggest gain of enrolling in a health insurance plan. The largest benefit to healthcare coverage is that it buys the patron a discounted charge for any healthcare-associated services it covers. This is the biggest single benefit, and most customers do not even recognize it. When a company is “participating” with a coverage company, it agrees to accept a rate decrease from its full everyday price. HMO and POS plan to pay the bottom fee to providers. PPO plans pay higher but decrease than the company’s full price. When providers are “taking part,” they always deliver a “negotiated price timetable” lower than their regular charge. The patient is accountable for the handiest co-price as long as offerings remain within the advantages of the plan they bought. The purchaser is responsible for incomplete payment if the preferred provider is not protected inside the insurance plan. Referring to the auto analogy, if your car doesn’t include 20-inch rims and needs them, you must shop for them. Don’t assume the automobile provider will pay the auto to keep on your edges.

When a company chooses to be a “non-taking part” with an insurance plan, they rate what they need for their provider. The “plan” commonly covers a percentage of a “usual and customary rate,” or UCR. A company can price the UCR precisely or above or beneath it. The patient (purchaser) is accountable for the balance of the unpaid invoice. Often, the affected person pays the provider immediately and is reimbursed using the insurance enterprise. HMO and POS plans normally do not cover services provided by non-participating providers. This is partially how they can keep the coverage fee to the patron low. It limits the purchaser to which companies might be blanketed for a charge.

Health Insurance As Currency

So, with this understanding, medical insurance is a product we convert into a form of “foreign money” established by a few providers as a partial or full fee for rendering a carrier. It is the equivalent of bucks, pesos, a test, or a credit card. It is, in a manner, a “promissory be aware.” It promises that the company may be paid several weeks after sending the coverage enterprise a bill. It covers what the creator (the coverage agency) and the carrier renderer (the provider) agree that it covers, just as your neighborhood grocery store may also decide to accept dollars and credit playing cards, however, no longer checks or pesos, your fitness care provider mayor won’t choose to get your insurance as a charge for a service.

The dilemma of using many vendors is an affected person’s lack of knowledge of the scope of coverage, price and advantages, and the insurance card’s position. Let’s compare the coverage card to a credit score card or look at it. Some merchants take delivery of them. Some do not. It’s up to the discretion of the merchant. If the credit card is going via at the time of the billing without a problem, you get your products. If the card is declined, you offer an alternative fee, cash, test, or money order; otherwise, you leave the shop without the merchandise. If your check bounces, you don’t get the product.

Maintenance of the cardboard (or currency) is your purchaser’s responsibility. If a credit card has run out of date, is over the limit, or has inadequate finances, you need to offer the opportunity forex to leave the shop with your products. The same is true with the fitness care plan ID card. If your forex is invalid, your plan denies price, so you want to provide opportunity currency. And you must preserve your foreign money (card) as current and energetic. One of the most time-consuming and expensive sports in any physician’s office deals with coverage corporations. The following activities by medical doctor’s worker’s fee cash beyond what a consumer can imagine. Insurance verifications, authorizations, billing, phone calls after denial, re-billing, bookkeeper recording and monitoring, co-price billing, etc.

Patient know-how of an insurance card concept as currency can move a protracted manner to a clean and a hit transaction with the company (the doctor). The medical insurance plan covers what it covers. And doesn’t cover what it would not. It is a product that has a utility to the extent of the conditions of the acquisition. And via purchase, I imply the addition of the coverage insurance. If the coverage doesn’t cover something, the customer’s grievance is with the insurance organization or, more likely, with the corporation that negotiated the insurance terms on behalf of the consumer. The provider (physician) is not answerable for the words of coverage of coverage.

Health Insurance As Currency

So, let’s summarize and make a point. Health coverage is forex. It isn’t a carte blanche to any that the health practitioner might also provide. It’s a product that you obtain. It allows you to get entry to what you agreed to while you receive it. Most of us didn’t read all the 2,000 pages (exaggeration) in the acquisition agreement at our corporation’s “open enrollment” meeting. It is your (the patient’s) obligation to make sure that the foreign money is valid and covers the technique that you are inquiring about, simply as it is your responsibility to ensure that the test will clear or that your credit card has room on it when you make any purchase. I am concerned at the prevailing use of the phrase “entitled” while entering the fitness care debate. Health coverage is a product that is procured. We convert that product into currency to buy other products or diverse types of health care. As far as what we are “entitled” to, I ask if we’re entitled to anything. Perhaps we are entitled to possibility and access. If we see our fitness and health care as our private obligation and earn those, we might regard them as greater and take better care.