The following is a guest post.
Expenses on health care increase every year and thus many American families face financial hardships because these costs make up a sufficient percentage of the average household’s monthly budget. It is true that sometimes it may seem impossible to navigate the health care industry as it is immense. But you are not powerless. Follow the expert advice given below and keep your health care expenses manageable.
- Make an agreement with health care providers. In case you don’t have insurance, think about making an agreement with your medical provider for a kind of discount in the sum that insurance would have requested them to write off.
- Keep yourself informed. You are more likely to get better care if you are aware of your options. Besides, you may even save some money. Thus, do a simple research before receiving any additional medical services. Some expensive tests and exams may be medically unnecessary.
- Pay full amount. Consider a “pay in full” discount offered by many providers. If you pay in full at the date of the service, providers save time and effort, therefore it can be in their interest to encourage up-front payments. If you find it difficult to make full payments from time to time, keep in mind that cash advance online can be very helpful when you need some extra cash.
- Be aware of your benefits. If you have health insurance, review your explanation of benefits carefully once you get them. Sometimes insurance providers make mistakes, thus check information on deductibles, made payments or denied claims. Don’t be shy to call your company if you have any questions. Keep in mind that denied claims can cost you hundreds of dollars.
- Be an inquisitive and active patient. You definitely know your body better than anybody else. Thus, when you visit your medical provider, be prepared with your concerns and questions. This way you will save much time and money because there will be fewer follow-up visits and besides you will be able to cut the potential for wrong diagnosis.
- Consider free programs for prescription drugs. If it is troublesome for you to cover the cost of prescription drugs, investigate the programs offering free prescription drugs. Write a letter to the pharmaceutical company manufacturing your medications and ask whether they have any such programs you may qualify.
- Take advantage of a flexible spending account, if your employer offers such option. A flexible spending account is a benefit that may be offered by employers to help their employees to save money on medical costs. With FSA you can deduct particular amount of pre-tax income for medical expenses every pay period. Thus, you will reduce the amount you pay in federal income taxes.
- Shop around. When you are searching for medical services, call to different providers and ask for their fee schedules. Most of them are likely to provide you with the list of the offered procedures and their costs. Thus, you may compare the prices before making your final choice.
- Take caution when considering saving schemes. Be wary of “Medical Discount Plans”. Some of these plans state that you will save up to 60% on medical costs if you choose their providers. But many such plans may be just out for your money. So, prior to signing up for a plan call to the providers of these plans and ask for their price quotes.
- Think about switching providers. Bear in mind that all insurance plans are different and employers may offer various plans. Consider negotiating with insurers about the premiums while reassessing the medical needs of your family on an annual basis.