People are horrified of the risk of bankruptcy from medical bills and disability.
When was the last time you were so overwhelmed with life that you just wished you could lie in bed for a week? …and then you got sick? And within 16 hours of lying in bed, all you wanted was to feel good enough to get out of bed, but you couldn’t? Now imagine being stuck in bed, stuck in your house, or in your living facility “apartment” FOREVER….
Disability for many, is like being stuck in bed, wanting to get up, but they can’t. Can’t work, can’t play, can’t cook dinner, can’t go on vacation, can’t ride a bike, can’t go to the gym that they’d love to go to even though they’ve never gone to, or wanted to go to a gym before they were disabled.
One of the greatest legitimate fears that people have is health problems that will bankrupt them. It happens all the time in this country and is the leading cause of bankruptcy in the U.S.
A Kaiser Family Foundation reported that 41% of U.S. citizens carry some form of medical debt, with 24% considering bankruptcy to resolve their medical debt issues.
A study published in the American Journal of Public Health found that medical expenses or illness-related work loss contributed to 66.5% of all bankruptcies.
A Harvard University study found that 72% of medical-related bankruptcy cases involved people who had health insurance.
This is a real risk for most Americans. Our medical system including how we pay for care is failing most of us.
What is most likely going to “take someone out”, disable them, and force them into potentially bankrupting debt?
The leading cause of disability in the United States and worldwide is arthritis. Arthritis is #1, back pain and damage to the spine that causes pain is #2. These two often go hand in hand. With statistics like this, it’s likely that any of us could end up in a similar boat of pain, immobility and disability. If we don’t understand the hows and whys of prevention and doing the right things, this could be us.
Back pain and Arthritis Bankruptcy
Unfortunately, PREVENTION strategies for these two conditions is not covered by insurance, only damage control once arthritis and back pain ruin you. As someone on the frontline of both of these maladies, it is not unfair to suggest that the insurance companies will abandon you. In a sense, they have by denying prevention.
Question: How can you afford to receive preventive care for your joints, back and nerves?
Answer: Call Dr. Lou
Several years ago we saw the writing on the wall. Insurance is failing and people are overpaying for care they don’t receive.
Peoples health and healthcare in general is worsening. Hospitals and other medical clinics are growing and patients are absorbing the cost. Health insurance companies are denying medically directed care and they are lining the pockets of their leadership. People are NOT getting healthier from larger hospitals, the ones that are getting healthier are doing it themselves. New medications for reduction of symptoms with the two top conditions leading to disability are not getting better results without severe addiction risk. The list of major flaws with the healthcare and insurance system goes on and on, but what it means to you…More expensive lower quality care. Even with these two conditions being such disruptors of lives with such costly consequences, our healthcare system insists on doing more of the same over and over again while expecting different results.
Our office has recognized this and has gotten on the right side of the curve. While we do accept insurance, we also belong to what is called ChiroHealthUSA, which allows us to reduce the rates of care legally, and to a level that is affordable for those who choose to pay out of pocket. This includes $35 preventive care. You can have no pain at all, no signs of significant arthritis, and you can take your health into your own hands with an affordable investment in your future health and financial security.
Before you read the top 12 reasons patients with insurance choose to pay out of pocket, know this: Dr. Lou has been taking care of patients with arthritis and back pain, nerve issues and damage, sciatica, shoulder and neck issues, headaches, migraines, and volumes of other nerve, muscle, bone and joint issues. Since 2002, Dr. Lou has offered affordable out of pocket care without compromising quality of care. Jacobs Chiropractic Acupuncture operates on honesty, integrity and affordability for the masses. Jacobs Chiropractic Acupuncture Center is always accepting and prioritizing new patients and especially those people who have the foresight to use chiropractic care to optimize the health of their spine and nervous system – preventively. We are not the cheapest office in Maine, but we are one of the most affordable. What’s that mean? Fair prices, exceptional care. It’s possible to do both if your provider is in it for the right reasons.
Why do insurance policy holders choose out of pocket payment in place of using their insurance?
Here are the top 12 reasons patients with insurance choose to pay our out of pocket reduced fees:
1. Lower costs: In some cases, paying out of pocket might be more cost-effective than using insurance, especially for services below the deductible threshold[2].
2. Avoiding deductibles: If medical expenses are below the deductible, it may be cheaper to pay directly instead of using insurance[2].
3. Out-of-network savings: It may be more cost-effective to pay directly for an out-of-network provider rather than facing higher insurance costs[2].
4. Provider choice: Paying out of pocket allows individuals to choose any healthcare provider they prefer, giving them more control over their healthcare decisions[2].
5. Access to non-covered services: Insurance plans may not cover certain procedures, medications, or therapies. Paying out of pocket provides access to these services[2].
6. Faster access to care: By bypassing insurance pre-authorization or referral requirements, patients can potentially access care more quickly and efficiently[2].
7. Confidentiality: Paying healthcare costs out of pocket allows patients to keep their medical expenses private, avoiding sharing personal information with insurance companies[2].
8. Avoiding administrative hassles: Paying directly can help patients avoid paperwork, coordination with providers, and dealing with insurance bureaucracy[2].
9. Potential tax benefits: Paying medical expenses out of pocket or using a Health Savings Account may have tax advantages[2].
10. Specialized care: Paying out of pocket may allow access to specialists or providers with specific expertise not covered by insurance networks[2].
11. Urgent care needs: In cases where immediate care is necessary, paying out of pocket may be faster than waiting for insurance approval[2].
12. High out-of-pocket maximums: Some insurance plans have high out-of-pocket maximums, making it more economical to pay directly for certain services[1][3].
[1] https://www.harvardpilgrim.org/hapiguide/why-do-i-have-an-out-of-pocket-health-care-cost/
[2] https://northborodoctor.com/2023/06/12/paying-out-of-pocket-for-healthcare/
[3] https://www.commonwealthfund.org/publications/issue-briefs/2020/apr/catastrophic-out-of-pocket-costs-problem-middle-income
[4] https://theconversation.com/doctors-bills-often-come-with-sticker-shock-for-patients-but-health-insurance-could-be-reinvented-to-provide-costs-upfront-243758
[5] https://pmc.ncbi.nlm.nih.gov/articles/PMC9056140/
[6] https://www.ncbi.nlm.nih.gov/books/NBK221653/
[7] https://www.ncbi.nlm.nih.gov/books/NBK223643/
[8] https://www.investopedia.com/terms/o/outofpocket.asp
[9] https://www.healthcare.gov/why-coverage-is-important/protection-from-high-medical-costs/
[10] https://www.peoplekeep.com/blog/what-does-out-of-pocket-medical-expense-mean
[11] https://www.health.gov.au/topics/private-health-insurance/what-private-health-insurance-covers/out-of-pocket-costs