Even if you live an extremely healthy lifestyle, you may still have to visit the doctor once or twice a year. Most people seek medical help more frequently than that, though, and those costs can add up quickly. According to The Commonwealth Fund, about one in five Americans paid out-of-pocket health care expenses upwards of $2,000 in 2014. That is money that, with the right health insurance and a few smart strategies, you shouldn’t have to pay.
Four Tips for Managing Health Care Expenses
1) Select the right health insurance policy for your needs
Bronze plans look good from afar because of their low monthly premiums, but what you may not think about right away is the inconvenience of these plans’ high deductibles, coinsurance, and copays on top of the overall lower level of coverage. This type of plan might be ideal for someone who rarely visits the doctor (and therefore deals with fewer copays), but if you have a medical condition or must purchase monthly prescriptions, you may want to choose a plan with better coverage and lower copays. Basically, it is important that you read through the plans carefully and choose the one that is best for you.
This can be especially important for seniors. While Medicare provides a great deal of benefits, a Medicare Supplement Insurance policy may also need to be added depending on your needs.
2) Make sure your doctors are in network
Health insurance plans change from year to year, which means that they don’t always cover the same physicians and medical facilities. Always review your plan for changes and check with your doctor ahead of time to make sure that they accept your specific insurance plan.
3) Stick to generic drugs
Speaking of prescriptions, remember that there is usually more than one choice when it comes to most drugs. Brand-name prescriptions will often cost more than generic brands, so shop around and compare prices. Talk to your doctor about prescribing brands with lower costs.
4) Take advantage of free services
ACA-compliant health insurance plans offer a number of important screenings with no copay, and you can always find medical facilities in your community that offer free tests for conditions like diabetes, HIV, and other STDs. By law, insurance companies must cover preventative care, so get your free flu and shingles shots.
These are just a few of the many ways you can save money on health care this year. Do you have any other tips or suggestions? Feel free to post in the comments section below.
