5 Tips to Save on Health Care
It’s no secret that health care in the United States is very expensive. From health insurance premiums to high deductibles to medications insurance won’t cover, you may feel like you’re in a hole of expenses and maybe even debt when it comes to your health.
Fortunately, there are some ways that you can save on health care, but it does take some extra work. Below, we’re sharing five ways you can try to save on your health care expenses without changing your health insurance plan.
1. Compare Care Costs
Different health care providers charge different prices for the same test or service. So, if you know that you need an MRI or a CAT scan, call around different offices to see if you can get the best price.
Some offices even offer a discount if you pay cash upfront and don’t go through your insurance. If you can afford this, it may be a better option depending on your situation.
2. Use Telehealth Services
Virtual doctor appointments have increased in popularity due to the COVID-19 pandemic. However, it looks like they’re here to stay due to their extreme convenience and lower costs.
Most insurances will even cover the price of the telehealth call for their members. These consultations are very effective and focus on the patient with minimal distraction from the office and patients around them. Many services even use market research, like from Research America, to figure out what will give the highest quality service to their patients.
3. Deduct Medical Expenses from Taxes
You may not have known that you can deduct medical expenses that were not reimbursed by your insurance from your taxes each year. These expenses include dental procedures, prescription medication, tests, and appointments. If the medical expenses exceed 7.5% of your adjusted gross income and were not reimbursed by your insurance, then you may deduct them and save on your taxes.
4. Switch to Generic Brands
It’s incredible just how much less expensive a generic prescription drug is to the name brand. You could save up to 80% of the cost just by switching. This doesn’t only apply to prescription drugs, either.
When you purchase over-the-counter medication, like cold and allergy medicine, opt for the generic brand. They are made with the same ingredients and often in the same laboratory, they just don’t have the expensive name slapped on the packaging.
5. Review Medical Bills Closely
Everyone makes mistakes, which is why it’s so important to review your medical bills closely. Even when your insurance provider is covering most of your expenses, you’ll want to make sure that they are covering everything they claim to be.
It’s also a good habit to check the pricing from the health care provider on these receipts and bills. Hospital and medical administration may overcharge you for services or even accidentally add a service or test you never received to your bill.
Always stay diligent when it comes to health care expenses. You could save a ton of money with just the five tips we listed above.