The True Cost of Health Care

You have made a good choice and settled on your healthcare carrier and the premium using the Candor app……………and now …

You have made a good choice and settled on your healthcare carrier and the premium using the Candor app……………and now you can budget your healthcare cost.

Monthly premium: $500 | Yearly deductible: $5,000

Not so fast.

  • How about those new eyeglasses and vision test. Let’s say $400………….Wouldn’t you like 50% off the cost of lenses?
  • That dental cleaning is good for $100 and a root canal $600………..Wouldn’t you like the cost reduced by 15% – 50%?
  • How about those prescriptions. They contribute to your out of pocket too. …………..Wouldn’t it be nice to reduce it by 10% to 85%?
  • Doctor’s visits – the cost could be $150 per visit, never mind the inconvenience…………. Wouldn’t it be great to talk or facetime with a doctor immediately at NO cost?

Employees and employers are really feeling the pinch because health insurance costs are continuing to rise at an accelerated rate, according to Drew Altman, president of the Kaiser Family Foundation. He continued…..even more troubling, deductibles—the set amount employees must pay with their own money before insurance kicks in—have increased 67% over the past five years.

Last year, out-of-pocket medical expenses soared 11%, according to TransUnion. And since health care is typically one of the biggest budget busters, there’s a good chance you have to reexamine your own spending or rethink how you plan to cover costs.

Promoting a culture of health today within the workforce is not as simple as hitting a switch, but there are solutions that fit into those tight budgets employers unfortunately have to continue to manage.

Historically, employees have looked to their employer for help with their health insurance and wellbeing, but today’s multidimensional employee is also asking for help with their financial, mental and social needs.  According to the 2017 MetLife Annual Trend Study, 74% of employees agree having insurance/benefits provides peace of mind for the unexpected. Additionally, 66% of employers agree that employees are less productive at work when worried about personal finance problems.

Health Insurance premiums are a big commitment by both the employer and employee, there are ways to soften this blow and in some cases replace this high cost of premiums and deductibles with low-cost lifestyle benefits.

It’s clear there must be a solution to the rising cost of healthcare, as well as access to medical providers, consultants and advisors. There is- it’s called lifestyle benefits. And Prosper Benefits offers them. Let me explain.

For a very low monthly cost per individual (includes dependent family), you can provide your employee or yourself with a program that reduces your overall cost of care.

Let me give you a few examples…

  • If you have a high deductible and injure your shoulder, that MRI  you are about to get is not covered because you haven’t met your deductible. To start with, billing charges for a medical service typically have little relation to the actual cost of the service or even to the possible reimbursement rate for that service. Wouldn’t it be nice to have a benefit that, with a simple phone call, not only provided the actual cost, but enabled you to have a 40 – 75% discount at a top rate facility. Prosper / MRI & CT Scans Benefit
  • Most private doctors’ offices don’t even bill their own patients—they contract billing companies, who just send them a check each month from the total amount collected, leaving them no notion of the actual charge or payment for any individual service they provided. Wouldn’t it be great to have a benefit that provided a personal advisor that would research your costs, help straighten out your bills and even negotiate a lower cost. Prosper / Med Bill Saver Benefit
  • Perhaps you find yourself as one of the 73% Americans that have trouble receiving timely medical care without having to visit the ER.  In as little as 5 minutes you can hear from the doctor who can prescribe for you. You don’t have to wait the week or so to get an appointment or have to drag all the kids with you to the ER (and pay an emergency fee) Wouldn’t it be great to have access, 24/7 to U.S. board-certified doctors – at NO cost. Prosper / Teladoc Benefit

I could go on and on…..but I think you get the idea. Your budget for healthcare costs, including premiums and out of pocket, can be greatly reduced just by using the Prosper Benefits discount card or calling the provided number. You can cancel at any time, but once you see how it saves you money, you won’t.