Under a modern health insurance plan, a member could end up with a $0 co-pay for a knee replacement.

A Modern Health Insurance Plan Can Save Customers Money

Under a modern health insurance plan, a member could end up with a $0 co-pay for a knee replacement.

Ross Klosterman is CEO and co-founder of Poppins Health of Columbus, a new health plan for small businesses.

To the question “Why do mutuals exist?” A reasonable person would probably answer that the role of health insurance companies is to use their influence to negotiate and keep health care costs low for members.

That same person might then be enraged to discover that as a single person with no bargaining power, they might often end up paying less out of pocket for medical services than the insurance companies negotiate on their behalf.

Which brings us to the following dubious but common scenario: A family of four pays an average of $22,000 a year for insurance, on top of an approximate $5,000 deductible before the insurance even kicks in. vigor. How did this become the norm around the world? WE?

After:Ohio Hospital Prices Differ Significantly for the Same Procedures

The answer may lie in the breakdown of health care prices. The vast majority of knee and hip replacements are done with “in-network” providers (i.e. insurance has negotiated with them). Therefore, the total price – and ultimately what members pay out of pocket – can vary widely, even within the same establishment.

Ross Klosterman is CEO and co-founder of Poppins Health of Columbus, a new health plan for small businesses.

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According to recent data, the cost of the same procedure in a hospital in San Francisco ranges from $22,865 to $101,571. Since each hospital and insurance company has a different process in place to determine the costs of the procedure, a patient may end up paying thousands of dollars more than someone else in the same location.

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