Find high quality Labs, Tests, and Meds for Cheap

Many people seem to think that when your doctor recommends a test, you need to get it done where they want you to get it done. Nothing can be further from the truth. You can research and choose a high quality facility who charges less than half the price of your doctor's facility and have the results sent directly to the doctor.

The same goes for prescription drugs, just by calling around you can find that certain pharmacies charge a lot less for a drug than another. There are even online options which could save you even more money.

As deductibles and prescription copays have steadily increased, it's a good thing to shop around.

Low Cost Labs and Tests

Most labs and tests vary by up to 300%, so why not go to a place that's less expensive. There are two sites to check out when looking for a lab or test (BTW, you will still need a prescription from your doctor for the test, so get that before you walk out the door).

Leslieslist.org

This is a great site that is fed by you and I and includes rates for the most common tests and prescriptions. Here is one example in the Chicagoland area. If it includes the procedure you need, then it's a great resource.

Colonoscopy

In Chicago, the pricing goes from $700+ (probably under $1000) to $2500. Most hospitals actually charge around $2500 - $3500 for the same procedure.

BTW, a friend of mine has negotiated with a doctor to do a full colonoscopy with polop removal for a flat $800 in Hinsdale. You pay upfront and deal with your insurance company. If you want more info, let me know.

Simvestatin, 30 mg tablets for high cholesterol

Leslieslist includes pricing at various drug stores from Costo to Walmart. The range for this generic is $11 for 100 tablets to $42 for 30 tablets.

Yousaveonlabs.com 

Yousaveonlabs is run by mdlabtests.com. You can put in your test and it will come up with the cost and allow you to pre-pay for the lab/test. You show up with your receipt and prescriptions, they perform the test and send it to your doctor. Many of these labs are the very same labs that process the tests done at your doctor's office anyway.

Low Cost Prescriptions

Yousaveonmeds.com

Yousaveonmeds allows you to purchase meds from around the world. It is run by a colleague of mine, Marty Portnoy. The key difference is that you need to talk to him before you can order. This means that if you require an FDIC approved manufacturer (from an outside country), he can help guide you to that manufacturer. He even provides a US receipt you can turn into your insurance company.

BidRx.com

This is a nifty site based in the US. You put in your meds and pharmacies bid on them using a reverse auction format. As far as I understand, it is all United States based pharmacies and drugs.

Summary

If you use these sites, you'll be able be a better consumer and keep more of your money in your pocket.

Transitional reinsurance program may add 3% - 4% to costs for individual and group health insurance according to United Healthcare

United Healthcare and Anthem Blue Cross Blue Shield both send out information on the transitional reinsurance program which is a part of the Affordable Care Act. According to United Healthcare, this program will increase cost 3% to 4% starting in 2014. The purpose of the reinsurance program is to stabilize the premiums of insurers who take on high cost people (think about your Aunt Edna who is 400 pounds, has high blood pressure, high cholesterol, diabetes, takes 8 medications/day and needs a double knee replacement) in the individual market due to it being guaranteed issue with no pre-existing conditions. This plan will compensate those insurance companies who insure those individuals. The reinsurance program fees will total $12 billion in 2014 and gradually decrease to $5 billion in 2016. States can actually increase these fees at their discretion.

What this means is that the average cost of a health insurance plan will be 3%-4% higher in 2014 due to this reinsurance program alone (fees are ultimately passed on to consumers).

Also starting September 30, 2012 there is a new fee assessed on health insurers (and self insured plans) of $1 per covered life and increasing to $2 per covered life in the second year. This fee helps to fund research on the effectiveness of medical treatments conducted by the new Patient-Centered Outcomes Research Institute (PCORI). The good news is that the most effective treatments will be found and recommended. The bad news is that I wouldn't be surprised if expensive and obscure treatments are "defunded" from health insurance plans (excluded from coverage). That second item is only speculation, but it seems to correlate with many single payer systems around the world.

By the way, if you offer an HRA, even if it is in conjunction with a fully insured plan, it is considered a self-funded plan and you will need to submit those fees to the government. Yes, this means you pay twice.

More updates will be coming.