Hospitals Have to List Prices in 2019 - What Can That Mean For Your Mom?
January 8, 2019
The cost of care is usually on top of any senior citizen's mind. Prescription costs, medical bills, and hospitalization are all stressful. A new law will change things. Starting in 2019, hospitals have to list prices on their websites. By saving money on medical costs, seniors will have more money to use on other aspects of senior care.
How Much Can Prices Differ?
Prices for different medical procedures can vary greatly. Hospitals have one fee for someone who is uninsured. They have fees for insurance companies where the patient stays in-network. There are other fees for patients who go out of network.
As an example, someone going to an out-of-network hospital or who lacks health insurance may pay as much as $1,300 for a colonoscopy in Burlington, Vermont. A person with insurance who stays in-network in that same area may only have to pay about $500.
If that same patient went just over the border into New York, the out-of-network or uninsured price drops to about $1,000 and the in-network price to $300. The savings are tremendous.
There may be additional hospital charges you should consider when getting an idea of what prices are. For example, a colonoscopy may also have additional fees for anesthesia, polyp removal, facility fees, and medications used before or after the procedure.
When Do the Price Lists Go Live?
Starting January 1, 2019, hospitals must post a price list online. Inpatient Prospective Payment System Rule will list the standard rates and not the rates insurance companies pay. It will help people see how much they could save if they went to one hospital over another.
With a better idea on what hospitals charge as base rates, it can help seniors save money on out-of-pocket medical expenses. They should talk to their insurance companies, however, if they have coverage. Some companies have agreements with certain hospitals that drastically reduce the costs seen on these new price lists.
With savings on medical bills, your mom will have more money for important home care needs. After the age of 65, many seniors have at least one chronic health condition. Home care services can help them keep up with activities of daily living that might otherwise be a struggle.
As your mom's abilities change, caregivers can help with everything from meal preparation to transportation. All it takes is a phone call to learn more about rates and services offered by caregivers in your mom's hometown.
If you or your loved one is looking for caregiver services in Santa Cruz, CA, please call Familiar Surroundings Home Care.
Santa Clara County: (408) 979-9990
San Mateo County: (650) 353-9777
Santa Cruz County: (831) 480-3990
Source:
https://www.fairhealthconsumer.org/