Have you ever used your medical Insurance for services and a few months later you get a Huge Bill?
I bet you thought everything was covered and were very annoyed. This has definitely happened to me in the past, luckily I had an HSA card to supplement the balance. Over the years, I’ve learned to ask how much I will owe a medical practice if I used my insurance vs paying Out of Pocket. Sometimes the out of pocket fee is much cheaper than using your insurance. Depending on your insurance plan and if you have a deductible, you could be paying more than you need to – for example, I went for a counseling session and was quoted $350 because I had not met my deductible yet but when I asked how much it would be without using insurance, I was quoted $125! (FYI my deductible was almost $2000 – an average, healthy person likely will not meet this amount in 1 year if they just go for routine check ups, Think About it)
Now, if you have a Health Savings Account (HSA), use those funds to supplement what insurance does not cover until you meet your deductible – any leftover funds WILL roll over into the following year. If you have a Flexible Spending Account (FSA), you need to use those funds before the end of the year as they DO NOT rollover. Both of these accounts can be used for ANY of your healthcare and wellness needs – dentures, eyeglasses, contact lenses and solutions, mental health treatment, medications, walkers, bandages, vitamins, feminine hygeine products, contraceptives, certain holistic treatments such as acupuncture, and of course Physical Therapy.
*Remember when approaching a new year, use those funds if you have an FSA.
*Always ask what the out of pocket rate is.
*Take care of yourself first – don’t delay your healthcare
Don’t hesitate to reach out if you have questions regarding insurance or Out of Network Physical Therapy coverage.