CAN SOMEONE EXPLAIN THIS TO ME?
My friend pays $512 a month for health insurance.
That’s $6,144 a year.
He injured his shoulder and needed an MRI.
In-network doctor.
In-network facility.
Insurance approved everything.
The bill came back at $2,700.
Insurance negotiated it down to $1,740.
His deductible?
$2,000.
So he paid the entire $1,740 out of pocket.
That means he’s already spent $7,884 this year between premiums and one MRI.
Then he asked what the cash price would’ve been without insurance.
$950.
So having insurance made the same MRI $790 more expensive for him.
Very cool.
What exactly are we insuring against again?