The Insurance Mom, brought to you by Alison Gordon Insurance Services, Inc, CA Lic. 0780178

The Insurance Mom says that everything is negotiable… including the cost of your medical care.   You wouldn’t think twice about negotiating with an car dealer or a CraigsList vendor, right?  Well, you can — and should — do the same with your doctors, labs and hospitals.  Saving money is a good thing!  The Insurance Mom wants you to fight for your money!

As the accompanying article from the Los Angeles Times suggests, “do your homework and negotiate upfront… “  The article, authored by Lisa Zamosky, offers some great tips, including:

1.  Understand treatments.  The best way to save money is to avoid care you don’t need.   If a doctor wants to order tests you’ve already had done by a different doctor, be sure to have the results forwarded and don’t let the second doctor duplicate the tests (and the costs!).     The Insurance Mom wants you to always have a copy of your current medical chart and tests results in your own files!  Yes, of course the doctor’s office will give you a copy of your chart (but sometimes for a small fee.)

2.  Find the best price.  Ask your provider up front how much a service will cost.   Did you know that prices vary greatly from one provider to another?  Yes they do!   When you can, plan and shop around.   Did you also know that the government’s “stealth” care reform law will do absolutely nothing to reduce the cost of medical care?   And it will not force doctors, labs or hospitals to reveal their costs to you.  So ask!   And then negotiate.   And get it in writing!

3.  Cash is king.   Many providers will give huge discounts for paying cash — sometimes the discounts are even better than what your insurance company has negotiated.

4.  Location, location, location.   The Insurance Mom wants you to pay careful attention about where you get your medical tests and treatments.   If your doctor sends you to the hospital for lab work or imaging it will cost you a whole lot more than if you go to a free-standing lab, radiologist or ambulatory center.    And, in the long run, it will cost the insurance companies less, too.

5.  Get it in writing!  Most doctors, hospitals and labs use an outside billing service.   If your provider’s office agrees to a discounted price, get it in writing to avoid future arguments with the billing service.

The best piece of advice in the article appears in the last section.   When signing hospital admission forms write the following in the financial responsibility section:  “I agree to pay fair and reasonable costs, and for compliant billing.”  Initial the statement and have the admissions clerk initial it too.   This, hopefully, will deter the hospital from unfair billing practices.     The Insurance Mom would also suggest that when you get the itemized bill from the hospital, go over it with a fine tooth comb to be sure you’re not being charged for services and supplies you never received, like the dry shampoo that mysteriously appeared on my hospital bill (can you believe it?!).

The Insurance Mom wants you to be a good little money manager and fight, fight, fight for your money!   If you don’t, who will?