Tag: healthcare costs

Does your physician know what you pay for health care?

by Mark A. Kelley, M.D.

This blog previously appeared on HealthWeb Navigator.

All of us should understand our own health care costs. However, the issues can be complicated: e.g. insurance premiums, deductibles, co-pays etc.

Physicians have a different perspective. Like any professional, they focus on how they are paid. Insurance companies require doctors to submit many details with their bills. Physicians rely on sophisticated billing systems to furnish that information, because without it, they are not paid. In a nutshell, patients worry about paying the bills and doctors worry about sending out the bills.

This raises a key question. How much do doctors know about your insurance and what you must pay?

Of course, the doctor can explain his/her own bills to you. Your doctor’s office has checked your insurance and knows what how they should bill your insurance company. Surprisingly, the doctor may not know much your hospital insurance coverage, or your deductible. Most physicians and their staffs have not been trained to gather this information because it does not affect physician payment. .

But things have

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Medical Tourism: Travel Abroad to Save on Healthcare

The following blog post is an American’s first-hand experience of traveling to Mexico to save money on healthcare procedures. Names and exact locations have been changed/omitted, though the details are all true and have been verified by us at NeedyMeds.

It is no secret that healthcare in the United States can be prohibitively expensive. Because of this, many Americans opt to get their healthcare elsewhere.

According to a 2015 report by the US International Trade Commission (USITC), between 150,000 and 320,000 Americans travel abroad every year to receive medical care. For uninsured Americans, the costs are often less than half what it would be in the states — even when including travel expenses.

Americans covered by insurance can benefit from getting healthcare abroad as well. Most insurance plans don’t cover dental work, cosmetic surgery, or prescription drugs. These routine treatments and procedures can cost hundreds or thousands of dollars in the U.S.

I have needed dental work completed for most of my life, with the main factor keeping me from finishing it as an adult being the price.

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Health Spending Plans

In a survey released in early 2018, only 37% of Americans said they would be able to pay for an unexpected $500-$1000 cost. 63% of respondents said they would need to resort to measures such as cutting back other spending, using a credit card, or borrowing money from friends or family in the event of a costly emergency. We have been writing for years on our position that people should not have to decide between health care or groceries or skipping prescriptions. There are ways to build a health spending plan to ensure you are financially able to pay for medical expenses, no matter when they arise.

There are a number of savings options available that can help make the most of income. Health savings accounts (HSAs) or Flexible spending accounts (FSAs) deposits are often made pre-tax through the employer, and can be spent tax-free on qualified medical expenses. FSAs and HSAs both allow people to save money in tax-advantage accounts, but there are key differences:

FSAs can be used with any type or no insurance; HSAs can only be used/contributed to in conjunction with a high-deductible health plan.

Money in FSAs not

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20 Years of NeedyMeds

NeedyMeds is celebrating twenty years since starting as a website for those seeking assistance with the high-costs of prescription medications. In 1997, Richard Sagall, MD, and Libby Overly, MSW, MEd, both realized a need for a centralized resource for information on pharmaceutical Patient Assistance Programs (PAPs). Over our first ten years, we gained 501(3)(c) non-profit status, introduced our PAPTracker software for advocates helping patients with PAP applications, and started our first newsletter Patient Advocate News (now known as Patient Assistance News; aka PAN).

In 2007, we began to expand the website from more than just Patient Assistance Programs to include government programs and other application assistance providers. The following year we grew to include databases of free/low-cost/sliding-scale clinics, coupons for medications, and other organizations that provide diagnosis-based assistance. The NeedyMeds Drug Discount Card started in 2009, saving users $560,000 in its first year nationwide. To date, the NeedyMeds Drug Discount

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Prescriptions Cost More in the US

We have written many times over the past year of the growing concern of rising prescription costs, from last year’s Daraprim price increase to the more recent life-saving EpiPen price hike. We have tried to explain why these things happen in the US health care industry, but there are a lot of contributing factors. A majority of Americans still consider prescription costs unreasonable and an important political issue.

One thing often pointed out is that medications are often much more expensive in the U.S. as compared to other countries. Pharmaceutical companies have denied this, saying that prices in the U.S. may appear higher because there is no reporting on discounts drug manufacturers give to insurance companies or pharmacies. While many discounts can be 50% or more, the same medications are often still less expensive in European and other countries than the out-of-pocket costs for Americans. Analyzing a number of prescription medications, Bloomberg found that some drugs cost up to 85% more in the U.S. even after discounts. The list prices for these drugs are often up to 500% higher than in other countries.

Pharmaceutical

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About Us

Welcome to the NeedyMeds Voice! We look forward to presenting you with timely, provocative pieces on healthcare reform, patient advocacy, medication and healthcare access, and other health-related news. Our goals are to educate, enlighten, and elucidate; together, we will try to make sense of the myriad and ongoing healthcare-related changes in the U.S. today.