Have you met your deductible?
Do you know what a deductible is? How about co-insurance or copay?
Most people don’t and what you don’t know can hurt you, and your wallet.
I tell my patients all the time: Your insurance coverage is confusing on purpose. All insurance companies have a singular goal:
Collecting more money in premiums than they pay out in claims.
That’s IT.
If there is confusion about how to use a service, you won’t use it.
If there is confusion about pricing and what YOU are responsible to pay, you REALLY won’t use it.
I sincerely wish our healthcare system was different, but it is not.
Watch the video or continue reading below to learn more about deductibles.
What is a deductible?
A Deductible is the amount you pay for covered health care services before your insurance plan starts to pay. With a $2,000 deductible, for example, you pay the first $2,000 of covered services yourself.
After you pay your deductible, you usually pay only a copayment or coinsurance for covered services. Your insurance company pays the rest.
How do I find out if I have a deductible and how much of it was met?
Simply call the number on the back of your insurance card and ask your insurance company. They will give you all that information.
What does it mean if I have met my deductible?
If you have already paid your deductible this year, it means that your healthcare is going to cost you less for the rest of the calendar year. You will pay a fraction of what you would pay before you met your deductible, or you may have no out of pocket costs at all. This means that at the end of the year it can be much less expensive for you to access healthcare services before the clock strikes midnight on December 31.
What happens on January 1?
MOST insurance plans with a deductible reset and you start paying out of pocket for healthcare all over again. Your insurance policy in essence turns back into a pumpkin and they cover nothing until you pay up the deductible for the year.
What does that mean for you?
It means that medical services at the end of the year can often cost much less than at the beginning of the year. It may be much more economical for you to address any medical concerns towards the end of the year vs. after the ball drops on 2021 and your deductible resets.
Do you have a nagging pain or problem that you have been putting off taking care of? NOW may be the most economical time to get it checked out and worked on. We want to make it even easier for you!
Schedule your appointment with Robbins Rehabilitation East TODAY at any of our three locations. If you are interested in starting physical therapy, we will do the insurance work for you. Through our No-Nonsense Billing program we verify the insurance of all patients who sign up for an Initial Evaluation and let you know exactly what you will owe for your care.
There is no better time than NOW to address any physical pains or issues you are having.
- The faster you start evaluation and treatment, the faster you will get better!
- At this time of year, it is likely much less expensive for you to do it.
Talk about a win-win!
Call us to schedule today at 908.454.2404 and lets get you feeling better for LESS.
