Cost Control & Health Care Benefits

More workers are responsible for paying some of their medical costs even if their employers provide a health plan. Consumers who want to control their out-of-pocket expenses will need to do a significant amount of searching to find out how much specific medical services cost. Such information isn't automatically provided by insurers or health-care providers, and cost estimates can vary widely. Still, it's worth the effort to compare costs to keep medical expenses under control.
  1. Industry Pricing

    • A Wall Street Journal article titled "Lifting the Veil on Pricing for Health Care" says one reason health-care costs are hard to find is because hospitals and other facilities usually don't reveal how much they get paid for their services. Furthermore, insurers often don't publicize the health-care prices they negotiate for their policyholders. The Journal notes consumers also can't be sure their health plan offers the lowest prices, since an insurer may pay varying amounts for the same services to different health-care providers.

    Pricing Databases

    • The Healthcare Blue Book website touts that its users can find fair pricing for health-care services in their area free of charge. The pricing is pulled from a database of rates paid by private insurers. According to the site, the prices users are given reflect the average amount that most health-care providers in their area will accept from major insurers. Healthcare Blue Book recommends its users ask providers for specific medical care costs to compare with prices found on the site in an effort to control expenses. The site notes that providers give discounts to patients who pay out of pocket if they request a discount for doing so.

    Directory Services

    • According to Outofpocket.com, it provides users with a directory of "true prices" for health-care services, allowing consumers to estimate costs before they visit a doctor's office or hospital. The site says users are given the real cost of health-care services, not the "inflated list price." Some hospital association websites only provide list prices for health care, which usually are much higher than what insurers pay. Outofpocket.com asserts that 10 million people who have high-deductible health plans need to know their health-care costs in advance so they can make the most of their medical expenditures.

    Insurer Websites

    • Your health insurance company may provide some health-care cost information online. However, the data wouldn't include all health-care providers, and you might only be given price ranges for medical procedures rather than specific dollar amounts. In any case, take quality of care into account along with pricing by getting health-facility referrals from health professionals, friends or family members. The U.S. Department of Health and Human Services manages the Hospital Compare website. It allows consumers to compare the quality of care provided by hospitals that agree to submit data on certain services they provide.

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