Yesterday I received an “explanation of benefits” from my health insurance company in the mail for my surgery I had a couple weeks ago. I ripped open the envelope and my heart stopped. $10,375.25. My surgery cost over $10,000! I have been awaiting the hospital bill for awhile because I knew it was going to take a chunk out of our budget. I was assuming that the surgery would cost $5,000 on the high end, so you can imagine my surprise when I saw that it was twice what I had estimated!
I had planned on paying about $1250 for my co insurance since I have met my deductible this year. That was really worrying me. I pay 20% for surgery after my deductible is met. 20% of $10,000 is $2,000, $750 more than I had anticipated! I looked over the letter and discovered that after the discounts the hospital gave my insurance company, I’m going to be paying about $250. I can’t tell you how happy I am! The rest of that money can sit comfortably in our emergency fund.
It amazes me that the insurance companies get such a large discount from hospitals. Of course, I am elated, but it still blows my mind. I am so happy we have good health insurance even if I do pay a lot each paycheck. It just so happens we are in open enrollment at work right now and I have to choose a new health plan. I’m considering going with a high deductible health plan but they scare me. I need to sit down and figure out which one will work best for our family. It’s very intimidating!
I am so thankful I am not going to have to pay as much as I had thought. Now I can sleep better at night!
What kind of health insurance plan do you have?