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View Diary: Home Depot takes away health insurance (285 comments)

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  •  Bingo. Mini-meds are a a joke. (3+ / 0-)

    Businesses offer a "fringe benefit" package that sounds a little like insurance but isn't.  The fine print says "this isn't a major medical policy", using the name of a Blue Cross plan from the 1970s.  So they have a deductible, then get a percentage of coverage on some procedures, but the total payment is capped. I don't know HD's plan but I've seen $10k as the cap on some mini-meds.  

    And if the plan doesn't have a contract with a hospital, you can hit that in a day or two.  The hospital might see you as uninsured (no contract) and thus charge you the "chargemaster" price, which is 3-5 times the real price paid by commercial insurance, and maybe 5-10 times what Medicare pays (which covers cost).  

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