Given today's high medical expenses, you may be wondering how you can cut health care costs.
A new poll of over 1300 health care providers, revealed that 59% of those surveyed, planned on increasing deductibles and out-of-pocket costs.
Here are 10 ways that will enable you to cut the costs of services you need.
1. Choose medical professionals and hospitals that are part of your network.
By doing so, it is possible to save hundreds of dollars each year.
The reason that rates are cheaper in network is because, insurers try to negotiate the lowest rates with members that are in the network.
2. The next way you can cut health care costs, is to try and negotiate a lower fee from medical professionals or facilities in your network.
You might be surprised at how willing they are to accommodate you.
Before each doctor's visit, check with your insurance company and determine how much they will pay for the services you need. Then, pass this information to your doctor.
3. You can also cut health care costs by choosing your medications wisely.
Whenever possible, check with your doctor or pharmacist to see if there is a generic form of the medicine you need.
Most drug plans charge a $5-$10 co-pay. Many name brand medications could cost you $30 or more.
4. If there isn't a generic form of the medicine you need, ask your doctor if there is another, cheaper medication you could take instead.
These alternate medications may be more expensive than a generic one, but are usually less expensive than the brand name equivalent.
5. Inquire about setting up a health services plan, or HSA.
These plans allow you to put aside money to pay for future medical expenses.
This money accrues interest, and can be used to cover expenses your medical plan doesn't cover. You should strive to deposit the maximum contribution you can make to these plans.
6. Quitting smoking will also cut health care costs.
Not only will you save money on the cigarettes themselves, you will save yourself an average of $1600 in extra fees, that smokers often pay for health care.
Add to this, a 10% surcharge for homeowners insurance, plus a whopping 300% increase for life insurance.
7. Ask for samples.
Drug companies furnish doctors with sample medications that can be given to patients.
You may be able to obtain several weeks worth of free medications at no cost.
8. Buy your medications online.
This is a favorite strategy of mine.
For most things, including medicines, you can save as much as 15%, or more, by buying from discount pharmacies on the Internet.
9. Stop drinking!
If you drink an average of 4-5 drinks daily, you may see an additional $900 in health care costs compared to a non-drinker each year.
Try to keep your alcohol consumption to no more than one drink each day, to help you cut health care costs.
10. Exercise.
Individuals that are overweight typically pay an additional 26% in medical bills than those that are in shape.
Since 1970, health-care expenses exceeded economic growth by 2 1/2%.
Health-care premiums increased 7.7% in 2000, and 13% in 2007.
In conclusion, whether you are insured or not, you are probably looking for ways to reduce your medical bills.
We think that these 10 tips will help you do just that.
