Concierge Medicine: A Health Care Option for Some

Posted by GO Medical on

Ever hear of concierge medicine? GO Medical has some clients that use concierge medicine and according to what I’ve read more are exploring the option so I thought I’d share some information about it.

Concierge medicine is a primary care model in which medical providers, usually primary care physicians or internists, charge their patients a direct fee for their services. Usually there is a monthly or quarterly fee to become a patient. No insurance billing is involved. However, concierge agreements don’t meet the legal definition of health insurance under applicable state and federal statutes, including the Affordable Care Act – so concierge patients generally need to carry low-cost, bare-bones health insurance plans to remain compliant with the law and avoid potential tax penalties.

Concierge medicine providers’ model of care will have fewer patients. This they say allows more time with each patient and quicker response time. In fact, many will offer same day visits and consultation via phone or text.  The fees typically provide patients with routine in office visits and lab work.  On the other hand, concierge patients must pay out of pocket for hospital services, specialist consultations, prescriptions, and other non-routine medical care not covered by their accompanying catastrophic plans.

This seems to be a growing trend with Millennials and with older fairly healthy individuals not yet eligible for Medicare.

Cost of these concierge plans differ and are negotiated by the services provided and the number of members in your family on the plan. The ones I’ve talked with have said they compared the cost of a traditional insurance plan verses the concierge plan with catastrophic coverage. One report I read in a Money Crashers article stated “after factoring in the additional cost of bare-bones insurance plans, low-cost concierge arrangements are often less expensive than more generous health insurance policies, particularly for older individuals who don’t yet qualify for Medicare. They therefore can reduce healthcare costs for healthy adults who don’t take expensive medications or require lots of non-routine care.” However, I imagine the cost will vary depending on the state you live in and the type of care.

Any additional costs such as medical supplies are not covered by the concierge plans. Since most only have catastrophic insurance they are paying out of pocket for all their supply needs. That is where GO Medical can help. GO Medical offers low cost medical supplies directly to the door. For more information visit us at GO Medical

What are your thoughts? Do you know anyone using a concierge medical provider? Pros and Cons?

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