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insurance payment comparison…

Money BagThe other day I was out to lunch with my dad and my grandmother and we were discussing doctors and hospital bills. As a senior citizen, my grandmother has to carry regular insurance, then supplemental insurance and then some prescription insurance. I was amazed at the amounts of money she has to pay to these companies that only pay a portion of the bills. Insanity…

So we have concluded that doctors charge as much as they can in hopes that the insurance companies will pay the full amount. Usually the insurance companies pay a portion and then the bill goes back to the doctor. The doctor then tries to get you to pay for it. So you could re-submit, pay or hope the doctor just accepts what the insurance company paid.

So my dad made a good point. Since we were about to pay our bill, he said, “Thats like “this restaurant” giving us a bill for $1,000 and us deciding what we feel like paying for it. Uh, I think i want to pay $20 today. Maybe tomorrow we would feel like paying $30.” I think thats what insurance companies do. Maybe I’m just ignorant, but I thought my dad’s comparison was pretty funny…

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