On Your Side 8/18/19 - Cash for Care

Credit: WKBT
Published on August 19, 2019 -
On Your Side 8/18/19 - Cash for Care
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On Your Side 8/18/19 - Cash for Care

It sounds like a crazy idea.

Paying cash for doctors or medical procedures, even if you have health insurance!

As consumer reports reveals, some people are finding out they can actually save money by leaving their insurance card in their wallet.

Martha koloski has more in today's on your side.

" most people wouldn't dream of seeing a doctor without using their health insurance.

(sot: mos) "if my doctor didn't take insurance, i absolutely would switch."

"i like the fact that i'm covered, for going for a medical check- up."

(natsot: doctor) "ok, give me a big aaahhh ..

Aaahhhhhh."

(v/o) but with the increasing number of people in high- deductible health insurance plans, some medical service providers are offering discounts sometimes deep discounts to people who pay out of pocket.

(natsot: pumping) chyron: donna rosato, consumer reports money editor (sot) "it sounds counterintu itive, but it's true in some cases."

(v/o) a company like m-d save, even pulls together hundreds of doctors, hospitals and labs around the u-s offering discounts to people willing to prepay their bill.

(natsot: vials setting down ) (v/o) it's a practice more common for diagnostic procedures, like x-rays and c-t scans and even ultrasounds.

But the financial team at consumer reports found many medical services, including pharmacies and even some outpatient surgeries are offering discounts.

(natsot: door slam) (v/o) .

If you leave your insurer out of the picture.

(sot: donna rosato) "it's especially beneficial for people who have high deductible health insurance plans - but you have to be careful, it could cost you more in the long run.

That's because when you pay out of your own pocket, that money will not be applied to your deductible or your out of pocket maximum.

If you need a lot of healthcare later on, you could be starting from zero."

(v/o) so run the numbers carefully and decide which way checks out, before your next check up.."

Consumer reports cautions that whichever way the numbers fall - don't skip having health insurance.

Health insurance protects you from financial shocks that could bankrupt you, if you or a family member has a medical crisis that requires major hospitalization or expensive treatments.

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