With this increasing trend, is there anything you can do to reduce healthcare costs? Yes, of course. Here are some healthcare saving tips you can try.
1. Shop around and compare, especially if you are looking to save on prescriptions. On the internet, there are sites that require just your zip code and drug name then you will be provided with the prices. You can also inquire from the pharmacist because there might be another payment option that is more cost effective. There are prescriptions that can be bought from your doctor but this should be the last resort so that you can avoid paying for more.
2. You can save a huge amount of out-of-pocket expenses through the health savings account, especially if your healthcare costs are relatively low and you have a high-deductible plan. You can place the savings from the low premiums in your health savings account, which is tax advantaged. A health savings account does not account so you don’t need to worry about expirations.
3. Do not miss the discounts. They are available, especially if you ask for one. Most healthcare providers offer discounts for upfront payments. A 5% discount is significant although the the discount rate can reach as high as 40%.
4. Take the time to read and review your healthcare bill. Your itemized bill might contain errors. Experts say that about 80% if bills have inflated charges. Your insurance providers can also help you in your review since they will require you to pay the difference between the bill and what insurance will cover.
5. Make sure that your doctor belongs to the network of your healthcare insurance provider. You might not be able to avail the insurance if your doctor is outside the network.