Tuesday, May 20, 2008

Why you need health insurance, redux

[Welcome Industry Radar readers!]

I was just talking with an employee of one of my clients. A few months back, she spent a day and a half in the hospital, having three vertebrae fused. The contracted price for the services? Almost $48,000. The price for the hospital's services as originally billed? Somewhat over $600,000. Her out-of-pocket cost? $250.

Let's see...

No insurance: $600,000
With Insurance: $250 (plus her portion of the insurance premium)

On top of that are her physician's charges, which are also not an insignificant amount.
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