If you’re over fifty, brace yourself – I’m going to scare the sh*t out of you.
Have you ever looked closely at the detail on your hospital and doctor bills? Have you noticed that the amount billed is rarely the amount paid by your insurance? And aren’t you glad that you only have to pay about 25% of the amount the insurance company paid? Welcome to the peculiar world of medical billing in America! Let’s look at why it is as it is – and how Medicare and other programs are about to be turned into a piggy bank for special interests.
Let’s say three people – Larry, Moe, and Curly Joe, are hurt in a mysterious eye-poke incident in which each of them sustained identical injuries. They are taken to the same hospital in the same ambulance, given the same medications, treated by the same doctors, and kept overnight for observation. They are all discharged at the same time, each with a bill for $20,000.