Stunning costs of healthcare

[Kerry F]

Well, my little finger ganglion cyst that my PCP excised ten days ago, stitches come out tomorrow, can't believe the costs, supposed cash costs, because my deductible is so high, are this:

$1,600 to $2,100 for a 20 to 30 minute surgery.

$500 for anesthesia, which I absolutely don't need.  My PCP numbed my finger with good old Lidocaine.

Approximately $1,000 for the doctor fee.

These are prices supposedly discounted for cash.  I can guarantee you no insurance company would pay these prices.  They'd cut it in half probably. 

So $2,500 to $3,500 for a 20 to 30 minute ganglion excision.

Actually, there's a good chance this will now dissolve on its own since my PCP drained it. He said there was some cyst sitting on the joint in my finger so he wanted an orthopedic or hand surgeon to do it.  He was FLOORED at the prices, saying he was in the wrong line of the medical field.  He said the doctor fee should be no more than $250.

I've written all week with just a small band-aid over the stitches, not pain or stiffness or anything or any problems writing.  Didn't have any of that before either, just this above the skin cyst that kept breaking open when it got bumped or wet.  So between cold laser and castor oil hot packs, I think I can get rid of it all together if it even comes back up top.

I guess I could be one of these people who if they lost their ability to type because this did get worse and they couldn't afford surgery, I could apply for Social Security Disability and let the government help support me!  A broken system is an understatement.

[Martha R]

Doesn't sound too outrageous.   You might want to look into a HSA (Health Savings Account)  and use the funds for out of pocket medical stuff.   And the amount you put into it lowers your tax base, so you are taxed less.  Just a thought.   I just paid 1800 for my daughter's wisdom teeth to be pulled.  But I don't have an HSA either.    

[Kerry F]

What's not outrageous about $2,000 for 30 minutes of use of an out-patient surgical facility?  No way would an insurance company pay that amount.  They'd cut it in half, yet charge a cash payer the $2,000.  And I think what they charge to pull wisdom teeth today is totally outrageous.  Dental insurance wouldn't pay the dentist $1,800.

[Janiece Young]

I get what you are saying, Kerry.  I can tell you that you likely would have been paying $400 per month for insurance.  You would have had a deductible that you would have had to pay that probably would have been close to $2,000.  I speak from experience.  You probably came out ahead by paying cash for the procedure.

[Kerry F]

Janiece,

I have not had the surgery yet and hopefully won't have to.  It's been totally flat since my PCP cleaned it out.  Yes, insurance with a $10,000 plus deductible, plus copays (that I never use because I rarely need to go to the doctor, just the chiro, would cost me $400 plus per month.  That's $4,800 a year.  You know, other countries that have socialized medicine pay more than that in their taxes to have health coverage.  So their money for universal healthcare is just going to the government instead of private insurance corporations where our money goes.

[Mary Jo Cochran]

The cost of today's healthcare of the result of the '60's Unions, where health care, etc. were heavily contracted for (Thanks General Motors, Ford, etc).  My dad worked for Consumers Power Electrical, and the healthcare policy they carried was nothing compARED to GM.  Healthcare turned into a business comparative to tobacco companies.

My heathcare policy is whatever freebie antibiotics I can get from family, my bed and a TV.  If it's really serious, I go to bed and watch TV.  I will either get better - or I will die (which will happen eventually).

 

[Kerry F]

Mary Jo,

I don't understand about the '60s.  Wasn't ever paying attention then.   What do you mean "thanks GM and Ford, etc"?

[Mary Jo Cochran]

I grew up in Michigan, the land of organized Unions (manufacturing and industrial jobs).  Probably very few of you are familiar with the Union Contracts for General Motors or the car industry (or any large corporation of that day).   To get an idea of what I mean, you should watch the Roger Moore(?) movies about Detroit. 

Quick skip here.  I'll go find it.

 

[Janiece Young]

I lost my health insurance (which I never used).  Since then I have been paying cash when I need to go.  Financially I'm so much better off.  When I lost my insurance policy I was paying $550 per month with a $1,500 deductible. 

[Kerry F]

Janiece, I agree with you being better off financially.  If one got really sick and had to go to the ER, they have to treat you if it's a life and death situation, and then you end up settling with them or paying them $10 a month if necessary.  But, if you own a home, they can put a lien on it.

In my case with this ganglion cyst, they don't have to treat you unless you pay their price and $3,500 out of pocket is a lot of money for such a small thing.   Get a couple of those type health expenses in a year, that's more than the premiums, except with a $10,000 deductible policy I'd still be paying high premiums, plus maybe $7,000 out of pocket.

[Janiece Young]

Kerry, if you are a sick person, yes, insurance is going to help you out financially.  I'm talking about myself.  It was a waste of money.  Catastrophic insurance would have been much better for me.  For me having been without insurance for the past couple of years has been great.  I pay cash when I need to go to the doctor.  I have come out way ahead financially.  I do want to get something in case I have something major happen.  I am waiting until the Obama care thing comes online to see what my options are.

[Kerry F]

Janiece,

I can tell you they are not going to offer any more catastrophic plans under Obamacare.

There will be Bronze, Silver, Gold and Platinum.  They differ in how high the deductibles are for out of pocket and how much percent co-pay for a doctor's visit.

[Mary Jo Cochran]

Michael Moore movie - Roger and Me.   

Of course, we all have a different opinion, but it will give you insight into today's economy.  I can still remember Anita Bryant touting orange juice.  And she came to Flint (compliments of GM) to give the workers encouragement. She gave a fake smile and said, "Hang in there, Flint.  Things will get better".  It was on the front page of the Flint Journal.