SurgiCare of Manhattan is committed to the safety and well-being of our patients. The confusing world of healthcare insurance can present unnecessary obstacles that many patients need help to navigate. SurgiCare of Manhattan is committed to helping you understand your health insurance policy and how it works. We hope these brief explanations of the terms within your health insurance policy and your financial obligations here at SurgiCare of Manhattan help you to understand how your health insurance works so that you can make informed health care decisions.
WHAT ARE HEALTH INSURANCE DEDUCTIBLES
A health insurance deductible is a specified amount of money that you must pay before your insurance will begin paying your medical costs. For example, if you have a $1000 deductible, you must first pay $1000 out of your pocket before your insurance will cover any medical bills. It may take several months or just one visit to reach this out of pocket expense. Most patients scheduled for surgery at SurgiCare of Manhattan have used some or all of their deductible prior to being scheduled for surgery at our facility. Once you have reached paying your out of pocket deductible requirement, your health insurance begins to cover a portion of your medical bills.
By New York State law, SurgiCare of Manhattan is required to collect all deductible costs assigned by your health insurance policy for services provided at our facility.
DEDUCTIBLE vs. COINSURANCE
Most health insurance policies limit the percentage of your medical costs that they will cover once your deductible has been reached. You are responsible for the remaining percentage. This amount is called your coinsurance. Typically, your coinsurance responsibility can range between 20 and 50 percent of your medical bill. If you use a provider or facility outside of your insurance’s approved network, your coinsurance may be different than if you had used a provider within the network.
After you are discharged from SurgiCare of Manhattan you will receive a medical bill in the mail. This bill will be generated by your health insurance company and is called an Explanation of Benefits or “EOB”. The EOB will list the procedure that was performed at SurgiCare of Manhattan and break down the cost in terms of deductible (your responsibility), coinsurance (your responsibility) and what your health insurance covers. SurgiCare of Manhattan is committed to helping all of our patients understand and meet their health insurance costs in an affordable and compassionate manner.
We encourage any patient with questions regarding their financial obligations to contact our billing department so that we can assist in any way we can.