I pay out over $800 a month for Federal BC/BS and Medicare for the wife and I which includes dental and vision. I’m covered fully under VA care but the wife needs coverage as well.
I never understood the cost Drs and Hospitals charge and what they accept from insurance companies. Got a bill for $1575.00 for an X-ray, ins pays $315.00 and I owe nothing. That’s a $1260.00 loss or over charge for the X-ray.
The government pays about 15%-20% on the dollar to doctors and hospitals...so doctors and hospitals “up the ante” to collect the $315. they actually need to cover the cost of that x-ray procedure you had. (Notice that $315. is 20% of $1575.) They usually make a bit more on insurance contracted prices. The real loser is the “self-pay” patient, they are lucky to get a 10%-15% “discount” off the reimbursement inflated prices.
The real cost driver has been government reimbursement rates since the government is paying about 50+% of health care costs nationwide (Medicaid/CHIP, Medicare, VA, TriCare).