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The discount is only good if you have the cash to pay on a timely basis.
Just like the repricing on an HSA.
Try walking into a 5 star restaurant with a discount card in your hand, no cash and no credit and see how far you get.
Maybe not 5 star, but restaurants do accept coupons for discounts.
If you are selling a limited benefit plan, there are some cash benefits. However, I do hear stories about claims being denied by these plans. Talked to a guy a few weeks ago with a limited benefit plan. His wife broke her leg and required surgery. The claim exceeds $24k. The carrier denied the claim as pre-existing . . .
Sure, and there are no problems (claims or treatment being denied) with Major medical.
Number of hospitals requesting up-front payments continues to expand
A few months ago, Fierce Health Finance recounted the tale of the M.D. Anderson Cancer Center, which drew considerable attention when in 2006, it asked a leukemia patient for $105,000 in cash up front because it wasn't satisfied with the extent of her insurance coverage. At the time, M.D. Anderson's policy was unusual enough to surprise consumers--and even some fellow hospital administrators.
Increasingly, however, these policies are becoming more standard. For example, in South Florida, an informal survey of 22 hospitals found that all have required up front payments for elective surgeries for years. Given how long such policies have been in place, patients are used to making up front payments. However, what's shocking some patients, they note, is just how big a payment they're having to make at times, given the growing size of their out-of-pocket costs. Patients who need a major diagnostic procedure might need to bring $2,500, or even $5,000 to the hospital, in fact.
Yeah, these plans are great.
To some consumers they are, especially when after 12 months their pre X's will be covered.