It is essential that patients understand their financial responsibility as defined by their insurance companies. Many insurance companies utilize a cost sharing plan, where patients are responsible for a portion of their healthcare expenses and are normally in the form of a:
- Deductible: The amount you’re responsible for paying for covered medical expenses before your health insurance plan begins to pay for covered medical expenses each year. Deductibles generally range from $0-$3,000 and vary by plan and coverage type. Check with your insurance company for your plan’s deductible amount.
- Coinsurance: Shared costs between you and the health insurance plan. For example, you pay 20 percent of costs and your plan pays 80 percent. These percentages may be different from plan to plan. Some plans may not have coinsurance.
- Copayment: The payment you make, usually a fixed dollar amount such as $15, each time you visit the doctor or fill a prescription medication. Not all plans have copayments. These typically do not accumulate toward the deductible.
- Out-of-pocket maximum: The most you will have to pay for covered medical expenses in a plan year through deductible and coinsurance before your insurance plan begins to pay 100 percent of covered medical expenses.
The patient’s insurance policy is a contract between the patient and her insurance company. However, all charges are the patient’s responsibility regardless of the insurance coverage and the patient is ultimately responsible for any unpaid balances. As a courtesy to our patients, Dr. Hessel bills the patient’s insurance company and makes every effort to ensure that claims are promptly and correctly processed. Dr. Hessel also bills patients’ secondary insurance when patients provide complete insurance information.
Patient co-pays are expected at the time of service, and any remaining payment is due in full within 30 days of receiving the first bill from Dr. Hessel. We accept cash, checks, money orders, debit cards, and credit cards (VISA, MasterCard, and American Express). Payments can be made online via our patient portal at www.drhesselmd.com or over the phone.
If you have questions about your bill or outstanding balance, contact our Billing Manager at (718)275-7200 extension 101. The Billing Manager will be able to provide you with an estimate of the patient portion (copay, Co-insurance, deductible) of an upcoming surgery or procedure and can provide financing options.
Past Due Balances. A past due balance is any amount owed after the insurance company has paid its portion, but where Dr. Hessel has not received the full patient balance within ninety (90) days. After ninety (90) days as a private pay balance, interest may accrue at the rate of 1.0% per month (12% annual rate) on the unpaid balance at the discretion of the practice. Balances on accounts with payment plans where payments are in compliance with the plan are not considered past due balances. Patients who have a previous collection agency balance and wish to receive service are required to pay any new charges at the time of service.
Payment Plans. Payment arrangements may be made on patients’ accounts based on a review of circumstances and approval by Dr. Hessel’s Billing Manager. We generally do not extend payment plans to patients who have failed to make timely payments in the past. Dr. Hessel also offers Care Credit- a financing option that if approved, can be interest free if payments are made in full and on time.