The Market Ticker
Rss Icon RSS available
You are not signed on; if you are a visitor please register for a free account!
The Market Ticker Single Post Display (Show in context)
User: Not logged on
Top Login FAQ Register Clear Cookie
User Info Jail. Now. Not Bailouts; entered at 2017-07-14 21:42:06
Flappingeagle
Posts: 2624
Registered: 2011-04-14
Quote:
Wife gets stiches pulled out which took a nurse about 10 minutes. Dermatologist charged $418.47 and Medicare approved amount was $28.30 which they had to accept because they accepted the Medicare assignment. So can someone tell me how they are scamming the people by charging $418 and know they only get $28. What do they do write this off as a loss? There has to be a scam in here somewhere.


Ok, here's how part of the scam works. Suppose that instead of Medicare you had regular insurance with a $1000 deductible. This is where the $418 comes in, you get charged the full $418 and you HAVE TO PAY IT OR GET SUED. So, you have just kicked an extra $418 to your insurance company minus the Dr's cut, which, making up a number could be $100.

So, $418 - $100 = $318. Your insurance company just made an extra $318 off of you, and they get to keep doing this all year long until you've paid your $1000. If you don't go over $1000 the insurance company pays nothing and just collected however much you paid all year for doing nothing.

Thus, the big numbers for small procedures. It's a RACKET between the Drs, hospitals, and insurance companies. You know, the one they are not getting prosecuted for...

Flap
2017-07-14 21:42:06