Suppose you have a knee replaced at Hospital X. Aetna’s discount there might mean it pays $11,000, while United Healthcare’s discount might mean it pays $22,000. Or the prices could be reversed. No patient has any way of knowing. But if you’re on the hook for 20% co-insurance for each policy, then you’ll pay $2,200 with an Aetna policy or $4,400 with a United policy. It looks like you have the same insurance — a 20% co-pay — but you don’t. Similarly, the same insurer might have dramatically different discounts for hospitals that are both listed in the insurance company’s network, meaning you’ll think your coverage should be the same. Suppose, for example, the knee surgery at Hospital X is $11,000 for an Aetna patient, but at Hospital Y it’s $22,000 for an Aetna patient.
TIME
So a person is supposed to review a list of insurance policies on a website and make a rational decision about which is best?
Can you spell "fat chance"?
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