Elisabeth, I just read your article How the High Cost of Medical Care Is Affecting Americans and come across Paying Till It Hurts. As you pointed out, not only are premiums on the rise, but now Americans have to pay more and more out-of-pocket, even if they have insurance. Ten years ago, the average individual deductible was under $500. Today it is approaching $2,000. The average PCP copay was $10 to $15. Today you will find copays of $40 to $50, and often more than $200 if you go to the ER. And this doesnt even include spending on everyday healthcare, the out-of-pocket spending on health and wellness expenses not typically covered by traditional health insurance, such as dental, vision, fitness, weight loss, nutrition, massage, chiropractic and holistic care, and over-the-counter medications. An average individual spends $2,300, and a family spends $3,700 a year out of pocket on products and services not typically covered by health insurance. I am sure it comes as no surprise that an average individual will spend hours researching a new big screen television that costs less than $1,000, but only minutes (if that) researching an MRI that costs over $1,500 out-of-pocket. And most people dont even know you can get that same quality MRI for far less. Approximately 50 percent of personal bankruptcies are due to medical expenses, and the uninsured are three times more likely to be unable to pay for basic necessities because of their medical bills. And as deductibles continue to increase, even those with insurance will struggle to pay their medical bills. I have just launched another new company dedicated specifically to helping people reduce their out-of-pocket spending on everyday healthcare. Its called CareXtend (carextend). I would absolutely welcome your thoughts on feedback on CareXtend and our mission to help individuals find quality care for less. Paying Till It Hurts is doing a great job of emphasizing the importance of greater transparency and all Americans, whether by chance or necessity, are slowly finding out there are options. I am glad to be a part of this group.
Posted on: Thu, 18 Dec 2014 21:49:22 +0000
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