Has anyone else seen what their insurance paid vs what they were billed for Covid vaccines?

[Hoyt]

27. Honestly, medical providers usually charge multiples of what they expect to

get. With insured patients, providers are required to write off a chunk of their charge and not bill you. Theoretically, they could go after uninsured patients, but they likely don’t have the money to pay.

Believe it or not, when Medicare was enacted, what providers charged say two years ago, determined how much they got paid in current year. Quickly, providers learned to Jack up their charges.

Anyway, today Medicare and each private insurer have a fixed amount they allow and “participating” providers have to accept that amount.

Point is, charge portion just doesn’t mean much anymore. They could put $1 Million as charge, and all they could get, without trouble, is somewhere between $17 and $30.

This kind of craziness has driven me nuts.