How I Beat The Broken Health Insurance System

My Experience With Health Insurance

Health insurance is one of the hardest but most important things we all deal with. In 2018, my wife decided to start her own business. We had insurance through her work that was deducted from her paycheck to cover the family.   I am self employed and was on her policy. We never looked at what it was costing us. We are both in the healthcare industry. She is a provider and I support healthcare companies with marketing services.  We understand the healthcare industry better than most. But health insurance is still hard to truly know what you pay for and what it actually costs. When we were quoted rates for health insurance via a large HR company, it was the first time in years that I actually realized how much money we were spending. We had a monthly premium of $1,400 dollars for our family, a $2,500 deductible per person, $25/$50 co-pays and a co-insurance max of $7,000!

 

What Is My Total Health Insurance Cost?

According to figures you can easily find online, the average cost for a family of 4 is $28,000 per year. Health is priceless…. but there has to be a better way. Over the next ten years, we will spend at least $280,000. Before Obamacare, I had a major medical policy that was $78 per month and it covered major health issues, but I never used it. It had a $5,000 deductible but at least I knew I had something. After Obamacare, that type of policy was gone, and the healthcare exchange was established. Pre-existing conditions were abolished, and the healthcare cost rose.

What I’ve never understood is why we never know the actual cost. What other service or item do we purchase that we actually don’t know the cost? You just hand them a plastic card and then you get a bill. The way health insurance usually works is the lower the monthly premium, the larger the deductibles/co-pays/co-insurances are. Many people who pay the “lower premium” (which isn’t even that low) are hit with large bills because the policy doesn’t really kick in until you meet that large deductible. It makes no sense that if I need an MRI and I have insurance, the cost for me is $1500 because I have to meet my deductible first. If I just pay cash, it’s $500. That’s where the light bulb went off for me. Is there a way to be covered by insurance yet take advantage of the lower rates by paying cash?

How To Beat The Health Insurance System

The way I beat the health insurance system is by understanding what the benefits are of each policy and what healthcare actually costs. CashPay Health is not just one policy. It’s a bundle of policies that provides set benefits for hospitals, doctors, surgeries, accidents, and major illnesses. CashPay Health is an outside-the-box way to view your health insurance. It gives you the security of having coverage but the option to seek and find the best price for those services. There are many advantages to it, like no deductibles and a substantially lower premium, but this type of coverage is not for everyone. Let’s talk about the type of person these policies are good for.

First things first. You have to understand that you have multiple policies with set benefits. What that means is you have an allocated amount of money that can be paid to you or the healthcare provider based on what is needed. Every bundle from CashPay Health starts with the Affordable Choice plan from Manhattan Life. This is the main policy which provides up to $5 million in coverage and is for people without major health issues like cancer, HIV or a pregnancy (not that it’s an issue). The policy’s premiums are very affordable, hence the name. The policy is underwritten, meaning you have to qualify for the plan. The main reason most people don’t qualify for the policy is if they have a major illness or need immediate work done, like surgery. There are many people that do have these pre-existing conditions, which is one of the reasons that traditional health insurance is so expensive. If that’s not you, then CashPay Health is something that would really work for you or your family.

How To Save Money Using CashPay Health

When you go to any doctor or hospital (no networks!), you have options on how to pay.

  • You can pay cash and then file a claim.
  • Use your insurance card and then pay the difference.

Paying cash up-front and then filing a claim is how you realize the most savings, but you can also use your insurance card and the insurance company will pay the set amount. Just know that often hospitals and doctor’s offices bill the insurance company at a way higher rate than they bill you. The insurance company will then negotiate and attempt to lower the bill, which brings us back to the crazy part of health care. What does the service actually cost? Why do they bill so much more to the insurance company?

The best and worst part about our policies is that you can realize the savings of paying for services, but you have to be a smart buyer, know your benefits and ask what the cost is going to be. Once you qualify for the main policy, we add the additional set-benefit policies because there are gaps in coverage that need to be covered up due to the lower level of coverage from the Affordable Choice plan. This spreads the liability of healthcare out to different insurance companies which ultimately provides savings and better coverage.

Do I Qualify For CashPay Health?

Listen, if you’re still reading this, you probably have questions like “What are the benefits?” and “How much does it cost?”There are some factors that play into those questions:

  • How old are you?
  • Are you or have you ever been a tobacco user?
  • Is the plan for an individual, single parent, married couple or a family?

You can find out the actual cost of these policies by filling out this form below. We will then email you the brochures for each policy with all of the benefits listed out as well as the cost. With CashPay Health, cost is never an issue because this will be cheaper than anything out there.

Which brings us to this. The reason that I beat the health insurance system is that I know and understand the benefits associated with these policies and with CashPay Health, you can beat it too.

About CashPay Health

CashPay Health is an alternative health insurance agency based in Fort Worth, TX. Licensed health insurance agent Anthony DeFelice started CashPay Health after he realized how much he was spending on health insurance. Since then, his focus has been on spreading affordable health insurance to everyone he could. Want to get a free health insurance quote? Fill out the form below and we will email your exact numbers, or call Anthony at 817-262-0567!