My Epiphany as a Doctor: Navigating Today’s Healthcare for My Own Family–Part 3

Mind-Blowing Healthcare Savings–$$$$Epiphany1

My traditional high deductible healthcare insurance plan I carried in 2016 was increasing from $820.00 per month to $2100.00 per month with an even higher deductible.

I was looking at an annual premium cost of $25,200.00

Year One(2017)

When we made the transition to the cost sharing program with Liberty HealthShare in 2017 it made sense as long as we were healthy.  The cost savings were profound.  We opted for their top coverage:  Liberty Complete

With the Liberty HealthShare option we chose we have an annual registration fee of $75.00 and pay $449.00/month for our family of four.

I was now looking at an annual “premium” of $5,463.00

Now we had a few medical bills in 2017:

  • an MRI for my husband’s shoulder $240.00
  • a screening mammogram for me $200.00
  • remember I am a family practitioner so some minor coughs/colds etc. would be handled by me that we will account for $500.00

Our general out-of-pocket expenses for the year were around $940.00.  Let’s round that number up for a few other incidentals and we are at $1000.00 for the year.

So our first year savings came out to almost $19,000.00

Year Two(2018)

So year two brings on a different twist as we have a medical need arise.  Craig’s MRI and poor response to conservative therapy leads to major surgery.  We researched our options and chose the Surgery Center of Oklahoma.

Our annual “premium” is still $5,463.00

Craig’s Surgery and Rehabilitation Costs:

  • Surgical Consultation:  $200.00
  • Surgery Center of Oklahoma:  $5,749.00*
  • Continuous Passive Motion(CPM) Chair:  $775.00
  • Physical Therapy: $540.00

*includes surgeon fee, facility fee, and anesthesia fee

Liberty HealthShare Shared Amounts(reimbursements):

  • Surgical Consultation:  $200
  • Surgery Center of Oklahoma:  $4,249.00
  • CPM Chair:  $0
  • Physical Therapy:  $0

Our final unshared(out-of-pocket) amount we were responsible for was only $2,815.00

So in two years after leaving traditional health insurance we will have saved about $35,000 with a major event occurring

If I still haven’t convinced you…

Now let’s go back to the traditional insurance world…the national average projected cost for arthroscopic shoulder surgery with one of the major insurance carriers in the United States is:

  • Facility and Anesthesia Fee:  $16,150.00*
  • Surgeon fee:  $8,985.00
  • Total:  $25,135.00

*based on outpatient surgery, national average for inpatient surgery increases that fee by $11,000

In contrast the fair pricing found with the Healthcare Bluebook

Shoulder Blog 13

Why didn’t I leave traditional insurance sooner?!?!?!?!?!

This is true healthcare reform with patient-driven affordable healthcare.

 

Ann Riggs, DO

DMC Logo
Patient-Driven Affordable Healthcare

 

 

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