Saturday, February 6, 2010

Another reason why we need changes to health care insurance

But first, I would like to say today is Ice Cream For Breakfast Day. Skip the oatmeal, eggs, wheaties or whatever and open your freezer and grab a bowl.

Did you know health insurance companies deny one out of every 14 claims? Does that seem a bit excessive? Anecdotally I have also been told that some insurance companies routinely deny a huge number of claims. What is wrong with this picture? Now as a good insurance premium payer you must do your part before you expect them to pay. If your policy says they don't pay for certain things, don't expect them to. Read your policy before you agree to it and read it again every year. Assume that bad things might happen to you - which is why you have insurance in the first place. Then read everything the insurance company sends you. Ask questions where you are treated. Is this covered under my insurance? Who got preapproval? What do I need to do to get preapproval? Don't assume.

If you are denied, get to work. Don't sit there and assume the insurance fairy will fly through your life and fix things for you. Start gathering information to determine if you were fairly or unfairly denied and be prepared to fight. This example is a good start. If you are faced with a big medical bill, call your provider and ask about options in repayment or renegotiate the amount.

I hear more stories about people cashing in their life savings because they were uninsured or underinsured or grossly under estimated the potential out of pocket costs for their medical expenses. Its not just about what is covered but what you might potentially spend.

All of these are examples as to why health care reform is needed at some level. Why do insurance executives make so many millions while millions of Americans are forced into bankruptcy over medical bills?

Now I am going to eat my ice cream.

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