Financial wellness is achieved in a variety of fashions and typically comes from numerous different sources. GOLD is always looking for ways to help our Members boost their financial health and wellness, which leads us to announce our newest benefit we’re proud to be providing to GOLD Members. Introducing AblePay Health!
 
AblePay Health’s objective is to assist healthcare consumers in not only navigating the healthcare billing system but providing savings and flexible payment options that reduce the financial stress of out-of-pocket medical expenses.
 
Read on for an exclusive feature from Rick Schoenen, AblePay’s VP of Marketing and Communications.

Medical Expenses Add Up Quickly

It’s no secret that medical expenses are potentially some of the largest bills we may be presented with while the cost of having health insurance continues to rise. The average cost of coverage for a family of four is approximately $28,000 and deductibles have risen 162% over the past decade.

Unfortunately, 69% of Americans have less than $1,000 in savings, 41% are paying off medical debt, and medical bills are the number one reason for bankruptcy. Couple that with the fact that 52% of Americans have little to no health insurance literacy.
 
That leaves a large percentage of the population that do not understand their bills or have the money to pay them.

The Best Thing You Haven’t Heard of

AblePay Health was founded in 2016, with the mission to offer a simple solution to the very large problem of the increasing cost of healthcare in the United States. 

Since rising insurance costs have led to plans with higher deductibles, it means that most Americans are now faced with greater out-of-pocket expenses for medical services and treatment.

Having spent many years in the healthcare arena, our leadership team witnessed the struggles that both medical providers and patients faced with no solution to bridge that gap.
 
This was the beginning of AblePay Health, based in Bethlehem, PA. Fast forward four years later, we have grown to over 27,000 members (with that number increasing every day) and a provider network that includes 42 hospitals and over 1,200 specialty providers covering 16 counties in Eastern Pennsylvania, New Jersey, and Ohio (with other markets in the works).

No Cost and No Catch

Inevitably, the first question we get when someone learns that our program is no cost (no enrollment, monthly, or annual fees) is what’s the catch? And that’s a completely natural reaction to have!
 
There truly is no catch. By assisting our provider partners in reducing their collection expenses and receivable times, we have negotiated a discounted rate. The discounted rate is accepted as payment in full in exchange for guaranteed payment in 14 days after the insurance process is completed. This allows us to pass a portion of these savings, up to 13%, along to our members. We simply retain a portion of the savings to fund our business. The program benefits the providers and healthcare consumers (their patients) alike.

Who’s Eligible?

Anyone with primary health insurance, including Medicare, is eligible to take advantage of the program’s benefits. AblePay will work on top of your current health insurance, assisting members with out-of-pocket expenses (deductibles, coinsurance, and even co-pays in some cases), so it doesn’t matter who the insurance carrier is or how the health benefits are obtained.

How Does AblePay Save You Money?

As a healthcare consumer, you most likely have a deductible and possibly coinsurance as part of your coverage. These out-of-pocket expenses can range from $500 to $5,000, and in some cases, it could cost even more depending on your coverage.
 
That’s where we step in. Would saving up to 13% on these bills make sense for you or your family? Could those savings be put towards a college fund or retirement? Who doesn’t like to save money?
 
Everyone’s financial needs change, and they can change rapidly. AblePay provides our members with flexible payment terms: 1-, 3-, 6-, and 12-months. On every claim, our members have the ability to decide which payment term meets their current financial needs. You can even decide what payment method you wish to use by simply changing what you currently have on file with a quick click of a button.
 
Here’s an example. Let’s say you receive a bill in your mailbox that states you owe your medical provider $1,000. For the majority of us, this means trying to quickly come up with the funds or think of another plan to pay the bill.

As an AblePay member, let’s assume you linked your Health Savings Account (HSA) as a payment method. If you had the ability to pay in one payment, we would pull $870 from your HSA, $1,000 is satisfied at the provider, and $1,000 is applied towards your deductible, meaning you just saved $130! It’s that simple.

What if you don’t have the ability to pay all at once? That’s okay, too, we understand. That’s why we give our members the flexibility to decide what aligns best with their financial needs. If members can span 3 payments, they’d save 10%, 6 payments, they’d save 8%. And don’t forget, there is an option to make 12 payments, too. Though there wouldn’t be additional savings, there would not be any interest charged either. 

Let’s talk about one additional savings our members receive. When you link your HSA or Flexible Spending Account (FSA), you get the benefit of contributing to your account before tax. And providing that you have enough in the account to cover the charge, you can take advantage of the highest savings, since you paid the bill in a single payment.

How Does AblePay Save You Time?

Now that we’ve talked about how we can save you money, let’s get into how we can save you time.
 
By paying bills through our convenient member portal, you don’t have to worry about keeping folders, writing checks, or making drawn-out phone calls. All of your bills are stored electronically in your portal and are paid directly using the payment methods you’ve chosen to link within your account.
 
Anyone who’s had an issue with a medical bill knows that it could take hours to get the situation resolved on the phone. Whether you’re dealing with automated systems, being placed on hold, or getting transferred from person to person, it can be time-consuming and frustrating.
 
As an AblePay member, if you ever have a question or an issue with a bill, we’re only one phone call away, so give us a call instead. We will explain the bill or reach out to the provider on your behalf if there’s a billing issue. You don’t have to spend hours of your day trying to get answers. We are here to do that for you!

We Take Your Security Seriously

You might have questions surrounding the security of AblePay. The security of your personal health information (PHI) is extremely important to us. Rest assured, everything we do at AblePay is HIPAA compliant. Your personal information is only used to satisfy the bill with your provider or to help get you answers on a bill. You can trust in us and know that we will never sell or share your information with anyone.
 
We also take the security of your financial information very seriously. During enrollment, you will be asked to provide at least one payment method to be linked with your account. Any payment method with an account and routing number—checking, savings, or Health Savings Account is entered as “Bank” (ACH). Payment methods that are completed by a card (credit, debit, Flexible Spending Accounts) is entered as “Card.” We do not store your financial information, regardless of payment method(s) you decide to use. When the information is entered during enrollment it goes to a PCI level-one secure financial payment processor. All we ever see are the last few digits of your account or a “token,” ensuring the safety of your payment information.

Sounds Too Good to be True

Is this too good to be true? We get this often, and in short, the answer is no.

We hear amazing compliments from our members all the time and we truly take pride in the feedback we receive. “This is amazing!” or “Why wouldn’t I do this!” The second one is a phrase we’ve heard so often, so it’s on the front of our office on Main Street.
 
Take it from me—it’s real, it works, and members are saving money! We’re proud to be partnering with GOLD Credit Union to offer you this great benefit and we’re looking forward to helping you better your financial health. Visit us downtown, enroll online, or give us a call and see for yourself: 484-292-4000.

Interested in learning more before enrolling? We're hosting a series of webinars starting Tuesday, June 15 and Thursday, June 17 where you can learn more about the program and how you can save money on your medical expenses. Choose which day and time works best with your schedule and register to attend

Rick Schoenen

Rick Schoenen

Rick is the Vice President of Marketing and Communications at AblePay Health located in Bethlehem, PA. He takes pride in being an advocate for individuals and their families by helping them take charge of their health and wellness through an affordable healthcare program that's designed to meet their needs, while lessening the financial burden associated with medical expenses.

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