Due to the Affordable Care Act, high deductible, or “catastrophic plans,” have become significantly more popular over the last few years. Because of this, it is critical to know how having a high deductible plan will affect how you purchase your CPAP supplies – we’re talking prices! Don’t worry, we’re here to help those of you with high deductible plans navigate their insurance policy so you can get the most bang for your buck… yay savings!
Usually, having a high deductible policy means that your monthly premium will be lower, which is great when you do not need to use your insurance. However, the flip side to this lower premium is that you will need to pay more out of pocket before your insurance company begins to cover any of the medical expenses, yes, including CPAP supplies.
While the answer to this question will change depending on where you are in your coverage (have you met your deductible or are you close to meeting your deductible?)[deductible met], there is a high probability that the answer is “no” given that these plans usually have deductibles around $6,000. But why? Well, CPAP therapy providers that work with insurance have high overhead because they have brick-and-mortar stores, need to process claims, among other things so they are charging more because they have to cover the cost of these expenses. On the other hand, non-insurance sellers that do not work with insurance and only accept cash/credit card payments don’t have as much overhead as they’re usually online ecommerce businesses and don’t need to process claims… so, their prices are usually lower. Sometimes their prices are even 1-2x cheaper than insurance prices!
As a result, if you have a high deductible plan and you are far away from meeting your deductible, you will likely want to buy from a cash-based vendor to save some serious coin. Sign up for an account and you will be able to see the cheapest cash price side by side the cheapest insurance price (for FREE in real-time!) so you can save money!
Health Sqyre has put together a high-deductible patient case study showing exactly how a high-deductible, or catastrophic, plan looks and acts when purchasing CPAP supplies.
Not sure whether you’ll save more by using your insurance or paying out-of-pocket? Don’t worry! We’ll tell you for each and every product you need. Sign up now for a FREE account and see how much you can save!