How Much Do You Pay For Your Health If You Don’t Have Insurance?
Healthcare is a major problem in most Americans lives. If you have insurance, the cost is probably more than you ever dreamed it could be. The co-pays, deductibles, and out of pocket expenses still add up to a huge burden. Even so, if you do not have insurance, you are living in a world where you pray every day that you or a member of your family does not get sick.
Penalty
First, you have to look at the penalty the government hits you with for not having coverage. If they think you can afford insurance (even if you know you can’t) then you get hit with a penalty at the end of the year for each member of your family who dared to not assume this expense.
The fee is 2.5% of your total household income or $695.00 per adult in the household and $347.50 per child (under 18 years of age) up to a maximum of $2085.00. Supposedly, this is roughly what the government figures it would cost you for the Bronze Plan if you had insured your family.
Medical expenses
The average cost of seeing a doctor when you are sick is $150.00 – $200.00. That is just for the office visit. Tests are extra. Tests can range from minor (blood work) $100.00 charges to thousands of dollars, depending on what tests are needed.
If the doctor sends you to a specialist, you can expect the office visit to be at least $300.00. You can also expect a lot of tests.
If you are sick and do not have any money, you can visit health department clinics that charge fees based on your income. They are usually packed with patients and while they good doctors and nurses, you do not generally get extensive healthcare from them.
Emergency rooms
Many people who have no coverage and no money to pay a doctor, will go to the emergency room at their nearest hospital with sickness or injury that are not really an emergency. However, when your child has a high fever or you have broken your finger and there is no money to fall back on, an emergency room must treat you. They cannot turn you away. However, you can expect a bill that is sometimes 10 times more than a doctor would have cost.
Living on Medicare
People 65 and older are eligible for Medicare supplement plans. If you’re under 65, you could be eligible for Medicare if you have end-stage renal disease, ALS, or have received Social Security Disability Insurance for 24 months. If you are in one of these groups, you qualify for Medicare. It comes in 4 parts. Part A covers hospital charges (only if they keep you, not if you are treated and released). Part B covers routine doctor’s visits. Part C is also called Medicare Advantage. It is Insurance that a person can purchase through a private company for little or no cost to them. Part D covers many (but not all) prescriptions.
- Medicare Part C policies are handled through private insurance companies. The plans are low cost and sometimes free depending on the company and plan you choose.
- Medicare Part C covers everything Part A & B covers and some policies have added a prescription drug coverage to the plans they offer.
- You are probably familiar with HMO or PPO plans. These types of plans are available to you. If you live near an area when you have a big network, these plans are usually your best option.
How Do You Get It?
To take advantage of Medicare Part C, you must already be enrolled in Medicare Parts A & B. You may not qualify with some companies (depending on their contract with the government) if you have permanent kidney failure. There are exceptions, so do not settle for a “no” too quickly.
The time to take care of your healthcare dollars is before you get sick. Explore these options carefully and protect your family.
