Guide: How to Save Money on Your Healthcare Costs
The amount of money we spend on healthcare every year can reach high peaks in just a day. From doctors’s visits to blood tests, MRIs and serious surgeries, the costs of the services we use can go over the top even though we have insurance.
However, few tips and tricks are said to help patients lower their out-of-the-pocket costs. The first and most important step they need to take is to become more proactive and willing to find the best option on the market that will help them save some money.
We have already talked about the few ways people can save money on prescription drugs. Today, we are offering a few tips on how to save money on healthcare costs in general.
Here are some of the major steps:
Ask For Generic Medications
According to the FDA, generic drugs have the same dosage, safety, manner of administration, quality and performance. The only difference between the two is that generic drugs are generally quite cheaper. So, if you can talk openly with your doctor, ask him/her if there is a generic alternative of the medicine that you need to take.
Ask For Discounts and Extras
Be it coupons or discount cards or other means that can help you lower your out-of-pocket costs, don’t forget to use them. There’s nothing wrong with asking your doctor for a lower price. Moreover, you should start the medical visit with the initial questions such as: “Is it really necessary for me to take this particular exam?” or “Do I really need to take these medications?” In the end, ask for a discount, the answer might surprise you.
Additionally, the Wall Street Journal found that paying cash for medical costs — instead of insurance — often leads to paying less and saving money overall:
“As consumers get savvier about shopping for health care, some are finding a curious trend: More hospitals, imaging centers, outpatient surgery centers and pharmacy chains will give them deep discounts if they pay cash instead of using insurance.”
Shop Around for Prescriptions
Want to save money on your healthcare costs? Start by shopping around for prices on prescriptions at your local pharmacies. Visit at least 4 different pharmacies to check the prices of the medications you need, and you may be surprised by what you’ll find with regard to pricing. Prices vary from pharmacy to pharmacy, and it’s up to us to decide which price fits our budget. Or, do some research online before calling to give yourself an idea of what the market rate is for a given drug.
Remember: MD.com offers a completely free Pharmacy Discount Card that can help consumers instantly save money on prescription medications. With no fee or sign-up required, it’s effectively a no-brainer: Just print the card or save it on your smartphone, and present it the next time you’re visiting your local pharmacy.
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Compare Costs For Lab Tests
Doctor visits go along with MRIs, blood tests, organ tests and what not. Before you head to the facility suggested by the doctor, check at least 2 other sights to compare prices and decide on the cheaper one. Take your time to search for the lab that will provide a quality service for a suitable price.
You can also learn more and explore the average costs of labs and blood tests by visiting the Healthcare Bluebook or Costhelper.com.
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Double Check Your Bill
Medical bills have always contained mistakes so we should already know that we need to check these things always. Before writing your check, go through the numbers and don’t hesitate to call your medical provider if you find something that is puzzling you.
Visit the Medical Company’s Website
If you are one of the patients who regularly use a certain medication, you can use the most of this option. Check the manufacturer’s website to see if they offer a discount of some kind or a coupon. Usually these discounts offer bigger dosage, but if you need to use the medication for a longer period, this will work for both sides.
Try to Have a Backup Plan
In case you or your spouse is changing jobs at the moment and you are obliged to wait for your new health insurance, ask if there is a chance to extend the insurance policy from your previous employer. If you cannot solve this problems with the old insurance, you can always buy a short-term insurance plan because it doesn’t cost much and it can be activated in a short period of time.
Get Your Regular Checkups
Yes, some of us are afraid of doctors in general, but when it comes to our health, it’s better to prevent any bad events on time. Instead of skipping your annual checkups and not paying attention to your health on time, take the exams. Most of the regular exams are usually cheap and mostly covered by your insurance, so don’t skip them for trivial reasons.
Take Care of Your Health on a Regular Basis
We tend to take our health for granted and we end up catching the last train to the hospital when the situation has gone too far. With time we learn that our health becomes the thing that we treasure most so instead of not paying attention, try to stress less at work, get a good night’s sleep, eat a healthy meal each day, take a walk, go for a run, take up some sport and find more time for your family and friends.
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Sources & Credits
- “Understanding Generic Drugs“. Food and Drug Administration. Article available online at: http://www.fda.gov/Drugs/ResourcesForYou/Consumers/BuyingUsingMedicineSafely/UnderstandingGenericDrugs/
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