097 - Understanding Your Medical Insurance: Beyond the Basics

In this episode we’re continuing our conversation about being independently healthy, focusing on covered medical expenses. Medical insurance premiums have skyrocketed—they are extremely expensive, and therefore unaffordable for many people.

If possible, it’s important to prioritize having your deductible on hand in case you ever need it. You may also need a contingency plan for specific medical expenses which are not covered. If it’s a therapy focused on maintaining wellness, balancing hormones, or anti-aging, it will likely not be a covered expense. 

The medical insurance business is indeed a business, so they want to make a profit. But remember, this has nothing to do with your doctor making profit. Your doctor simply made the decision to allow access to more people by accepting insurance plans. If any issues come up with your medical insurance, you will need to handle it with the insurance company directly.

Here’s the truth about private practice: your doctor gets paid last. He or she pays everyone else before they pay themselves, and they would actually make more if they worked for an entity that paid them annually (plus for billing). That’s corporate medicine, and it helps doctors avoid dealing with customer service, managing teams, billing, and more. 

For doctors, independence comes at a cost. Most doctors today have to implement fees to support their admin, and this is often wrapped up in a concierge fee. When it comes to affordability as a patient, there’s also a lot to consider, like where you’re at in life and who you’re providing for. Perhaps you can’t afford to not invest in proactive, maintenance-focused care.

 

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