Why You Should Consider Paying Cash For Your HealthCare
Here is something I found interesting and worth sharing. We are all led to assume that we should get the most out of our health insurance plans. And we all believe that paying the necessary premiums and deductibles allows us to do so. However, there may be times when paying cash for particular health care services is also a good choice.
Kiplinger has an article that lays out some compelling reasons for doing this. Referring to some of the persons who have taken such action, it states:
In an era of higher health insurance deductibles, rising out-of-pocket costs, shrinking provider networks and fewer choices in health care, more people are taking matters into their own hands. Instead of using their health insurance for all of their care, they’re going off the grid and paying cash so that they can see the doctors they choose or get the drugs they prefer. Some are paying a fee to their primary care physician in exchange for longer office visits and 24/7 access.
If you are a busy man—and most of us are these days—you might need your physician to work around your schedule rather than you having to work around his. The same goes for getting the prescription drugs you need. Your HMO may not cover the pills you prefer. Paying a little extra might be worth it if it means getting the care and service that you feel most comfortable with.
You should, of course, still keep your health insurance. You will need it for major surgeries and other costly procedures. However, you should consider paying a little more for those little conveniences not covered by your insurance. Depending on what kind of plan you have, you may even be able to recover such out-of-pocket expenses or make them tax deductible.
Indeed, the smarter play might be to change your health insurance plan so that the payments you make in cash can be counted toward your deductible. If your insurer refuses to flex that far, you should shop for one that will.
About Christopher Reid Chris was born in Washington, D.C. and lives in Britain. He works as a blogger, essayist, and novelist. His first book, Tea with Maureen, has just been published.