One of the biggest concerns with receiving medical treatment is the cost of the procedure. As an employee covered under a medical benefit plan, you may have experienced unexpected bills due to a lack of knowledge about what your insurance covers. However, a new law now requires all carriers to provide a treatment cost estimator to estimate your out-of-pocket costs. This tool can be found on your patient portal and is plan-specific. In this article, we will provide a step-by-step guide on how to use a treatment cost estimator and estimate your costs before undergoing any medical procedures.
Step 1: Locate your patient portal
Before you can use a treatment cost estimator, you need to locate your patient portal. This portal will be specific to your medical carrier and can be found on their website. Once you are logged into your patient portal, you will be able to access the treatment cost estimator feature.
Step 2: Search for the medical procedure
Once you have located the treatment cost estimator feature, you can search for the medical procedure you are planning to undergo. This feature allows you to look up the cost of a specific procedure using relevant codes and your insurance details.
Step 3: Check plan-specific coverage
After searching for the procedure, you will be able to review the cost estimator’s plan-specific coverage details. This information will allow you to gain insight into how much of the procedure your insurance will cover and the out-of-pocket costs you can expect to incur. You may also be able to view which providers are in-network and out-of-network.
Step 4: Estimate and compare costs
Using the cost estimator information provided, you can calculate how much you can expect to pay out-of-pocket for the procedure. Once you have this estimate, you can use it to compare prices with other providers or negotiate with your provider to find the most affordable option.
Step 5: Contact your provider
If you are unsure about your plan-specific coverage or have concerns about paying out-of-pocket costs, you should contact your provider. Your provider can offer additional assistance in navigating the cost estimator and provide further clarification on your plan and out-of-pocket costs. They may be able to offer additional payment options or discuss long-term payment plans.
Using a treatment cost estimator is a fantastic tool for employees covered under a medical benefit plan. It allows you to estimate costs before undergoing any medical procedure. Now that you know how to use this feature, you can avoid unexpected bills and have the confidence to make more informed medical decisions. Remember to always check your patient portal to access the treatment cost estimator and reach out to your provider if you have any concerns or questions about your insurance coverage. You got this!
