The medical industry in the United States is one-sixth of the entire economy. Gone are the days when you could count on the sisters of charity to treat you fairly.
Medicine is big business and you must protect yourself. Otherwise, you will be run over and end up in bankruptcy before you know it. I have outlined five very real pitfalls you may encounter after an automobile collision. If you have already encountered some of these situations, it may not be too late. Here is a list of what “they” (your health care providers) may do to you:
You absolutely, positively must submit ALL medical bills to your health insurance carrier after you are in an automobile collision. Regardless of how high your deductible may be, your health insurance is an asset you possess and, at a minimum, bills associated with an automobile collision will go toward that deductible.
Hospitals and health care providers want to receive the maximum amount of money they can for the services they provide. They will look to achieve this goal without considering the fact that it will hurt you and your family. Five Ways Hospitals and Other Health Care Providers Take Money Out of Your Pocket.
The method hospitals and other health care providers use for billing is incredibly complex. Hospitals receive funds from three major groups:
1) health insurance companies;
2) governmental entities;
3) individuals and automobile insurance carriers.
Each group has different rules. Because health insurance carriers make payments on behalf of tens of thousands of their policy holders, they have very real leverage over health care providers. In order to be a “preferred provider,” and have access to these tens of thousands of health insurance policy holders, health care providers enter into agreements with health insurance carriers. These agreements typically pay only 60 to 70% of the amount that is billed.
Allowing the health care provider to bill the automobile insurance carrier is like shooting yourself in the foot. Submitting your bill to your health insurance provider reduces the amount of the bill, even if your health insurance carrier never pays a dime toward your bill.
This is just one way hospitals and other health care providers can take money from you that is rightfully yours. To learn more about how to protect yourself and your family from financial ruin that hospitals can cause, I encourage you to read more of our educational information to help you deal with the massive bills that arise after a car crash.