How Can Patients Cut Health Costs? Good Question

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MarketWatch

March 4, 2010 Thursday 5:42 PM EST

SECTION: PERSONAL FINANCE; Personal Finance Daily

LENGTH: 1244 words

HEADLINE: How can patients cut health costs? Good question

BYLINE: MarketWatch

 

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I'm not the first one to note that health insurers' use of the term "explanation of benefits" is an oxymoron. For my part, when I get an EOB in the mail, I scan quickly to the "patient owes" part and pretty much skip the rest.

 

But, what about that column detailing how much the doctor or hospital is charging? I give it a cursory glance, sure, but I have no idea how to even effect changes in that column. I mean, here's my experience with health care: I get sick, I call my doctor, the doctor makes certain decisions, and I follow her advice, such as going to a lab for a blood test.

 

Should I be shopping around for a cheaper lab than the one my doctor recommends? Maybe I should, if Charlie Lichtman is any guide. As he faces yet another double-digit insurance-premium rate hike, Lichtman is exploring ways to lower his own health-care costs. Read Kristen Gerencher's Vital Signs today to find out how Lichtman goes about trying to do that.

 

Operative word here is "trying." It's no easy task, and the chances of success, for one individual navigating a very complex system, are not high.

 

-- , Personal Finance editor

 

Socked by rate hikes and fighting back

 

Charlie Lichtman is on a crusade to lower his health-care costs and a quest for answers as to why they're so high in the first place. He's one of many Californians who recently received notice that his health-plan premiums were about to jump by more than a third.

 

Abortion reprises role in health-care drama

 

As President Barack Obama's health-care overhaul heads into its final act on Capitol Hill, the issue of abortion once again may become a huge obstacle on the tough course to passage.

 

CAREERS

 

Making your résumé stand out from the crowd

 

In this tight job market a lot of employers are looking at resumes wondering, "What's in it for me?" MarketWatch.com's Adrienne Mitchell tells us how to stand out from the crowd.

 

Social networking aids the job hunt

 

If you're not using social-networking sites to find a job, you're missing out on an important, free resource. Adrienne Mitchell offers tips on how to use these sites to your advantage.

 

REAL ESTATE

 

Fixed-rate mortgages drop back below 5%

 

Average rates on 30-year fixed-rate mortgages fell back below 5% this week, returning to match levels seen two weeks ago, Freddie Mac's chief economist said on Thursday.

 

Pending home sales for January fall sharply

 

A forward-looking gauge of home buying declined sharply in January, dropping to the lowest seasonally adjusted level since last April, an industry trade group reported Thursday.

 

TRAVEL

 

A flier's bill of rights

 

Consumer protections against lost luggage, long hours on the tarmac and canceled flights are on their way, despite grumbling from airlines, Middle Seat columnist Scott McCartney reports on the News Hub.

 

PERSONAL TECHNOLOGY

 

Wireless Internet on your TV

 

On Digits, technology columnist Walt Mossberg says that streaming internet video to your television is coming but not yet at a tipping point.

 

Sony takes on Apple

 

In a bid to steal away game-playing iPhone users, Sony announced they will launch a smartphone that can download and play Playstation games, Marcelo Prince reports on Digits. Plus, Walt Mossberg discusses streaming wireless video to your television.

 

INVESTING

 

If you can't beat a winning market, join it

 

A lot of investors have stopped trying to beat market averages and instead are going along for a winning ride. Mark Hulbert, the editor of the Hulbert Financial Digest says someday that will actually make it easier to beat the market. And Mark warns: Don't be too quick to give up on a financial advisor who's suffering through a dry spell.

 

Commentary: Top performer offers free advice

 

There's a top-performing letter you can't subscribe to. But you can read it for free. Weird.

 

Day-trading for insomniacs

 

Losing sleep over the stock market? Experienced day-trader James Altucher explains how traders can get on their A-game when playing the market.

 

ENTERTAINMENT

 

Disney goes green

 

At the 3rd annual ECO:nomics Conference, Robert Iger, president and CEO of Disney Company discusses how the company is trying to influence children to be responsible towards environment.

 

Soldier sues over 'The Hurt Locker'

 

A soldier is suing the makers of the movie "The Hurt Locker," saying the protagonist and situations are based on his experiences and that he coined the phrase "hurt locker." Video courtesy of Reuters.

 

Oscar statuettes cost more to make

 

With precious metal prices on the rise, it's costing more to make those famous Oscar statuettes. Anheuser-Busch Inbev serves up disappointing profit news. And CBS offers Dockers free ad time for a Super Bowl underwear mishap. Join John Wordock and Ann Cates for MarketWatch News Break, and get money news on the go.

 

ECONOMY & POLITICS

 

Why Washington can't agree on how to protect consumers

 

If there is one thing Republicans and Democrats agree on, it is that regulators did not protect consumers from risky mortgages during the build up to the crisis that shook the economy to the brink in September 2008. That's where the agreement ends.

 

$15 billion jobs bill advances in Congress

 

A bill that would give businesses payroll tax breaks to hire new workers, extend highway spending and allow firms to deduct certain expenses cleared the House on Thursday, advancing a step further toward President Barack Obama's desk for signature.

 

Productivity revised higher in second half of 2009

 

U.S. nonfarm businesses were more productive in the second half of last year than previously reported, slashing hours by 1.3% even as they boosted their output by 2.5%, the Labor Department reported Thursday.

 

Jobless claims fall 29,000 to 469,000

 

The number of people filing for initial unemployment benefits declined by 29,000 in the week ending Feb. 27 to a seasonally adjusted 469,000, the Labor Department reported Thursday.

 

Detailed 'Volcker rule' targets all financial institutions

 

The Obama administration is recommending new capital and liquidity requirements for major financial firms engaged in proprietary trading, not just those institutions that own commercial banks, the White House said Wednesday.

 

Commentary: Stopping bubbles could destroy innovation

 

Market bubbles might not be all bad. Indeed, they could simply be the logical byproduct of financial innovation, according to a theory from authors Matthew Bishop and Michael Green.

 

Commentary: Commercial loans problems are looming

 

The U.S. Treasury Department's record windfall from the sale of Bank of America Corp. warrants appears to be another sign that the bank crisis is receding.

 

Citigroup has implicit federal guarantee

 

Citigroup Inc. enjoys an implicit government guarantee without which it would be viewed as more risky, a key government watchdog told the company's chief executive Thursday.

 

Resurgent shoppers warm up February sales

 

Resilient shoppers, driven by pent-up demand and spring merchandise, delivered retailers' sixth straight monthly gain in February with a vengeance, shoveling away worries about the snowy weather and handing in positive surprises across the board.

 

CARS

 

U.S. reportedly probing Toyota repairs to recalled vehicles

 

The U.S. Department of Transportation is investigating new complaints of sudden acceleration in Toyota Motor Corp. vehicles that have already been repaired as part of the company's recent recalls, according to reports Wednesday.

 

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