Cut Health Costs Seven Ways

If your family is like most American families, then a large chunk of your monthly expenses are made of up the family health care costs. Unfortunately, this expense category is one that is vital for the well-being of your family. However, there is no need for your family to be paying more than necessary for the health care coverage. Here at PaydayLoansCashAdvance, we know what a burden the monthly expenditure on health cost can be for families all over the country. As a result, we want to show you how you can take charge of your health care costs by finding ways to lower those costs without compromising the health and well-being of your family.

Select the Right Provider

Under your health care coverage, the providers listed in the insurer’s network are those that you want to use when you need to see a doctor. As a member of the network, the providers agree to offer lower rates to anyone with coverage from the insurer. This means that seeing a provider outside of the network can result in a higher health cost for the exact same service. This applies to all health care providers, from doctors to hospitals to other medical facilities. If anyone in your family is seeing a provider who is not in the network, you should request a referral to a provider who is in the network. This will dramatically lower your health care costs with just this simple change. It is also important to check that your doctor works with hospitals and facilities that are part of your network.

Get Prescriptions Filled Smartly

If anyone in your family has to take prescription medication, you can lower the associated costs by choosing generic over name brand medication. Doing so will not only save on the actual medication cost but also your co-insurance amount. In addition, you should check your local chain store pharmacies as many will fill generic prescriptions at a flat rate of just $4.00 per generic prescription. Another way to lower your prescription health care costs is to place your order on the web. Often, when you use an online mail order pharmacy, you can get a three month prescription filled for the cost of a single month. This also has the bonus of saving you time re-filling the prescription since you only have to do it once for three months versus three times for the same period.

Aim for Good Health

The easiest way to keep health care costs low is to keep yourself, and your family, in good health. If you take preemptive measures to stay well, it can result in lower future health costs. Insurance plans often provide preventative screenings to those insured at no cost or at an extremely low cost. This can include everything from vaccines to basic blood tests. Additionally, there are some insurers who offer incentives to those with chronic conditions who regularly take medications. If you have such a condition, you can check with your insurer to see if they offer such a program.

Take Advantage of Available Tax Breaks

If you expect to have a lot of health care costs, then you should be using a flexible spending account each year. Under current tax law, any money you contribute to a health care flexible spending account is not subject to any taxes. As you incur health care costs, you can use this tax-free money to pay for your medical expenses. Before putting too much into the account though, check to see if it rolls over at the end of the year or if you have to use it all by then. If it is the latter, you will want to be sure you do not put in more money that you need for health expenses.

Get Familiar with the Insurer’s Rules

When you incur any health care costs, be sure that you are getting the lower negotiated rates when using in-network providers. This applies even if you have a health care policy with a high deductible. Even if you have not yet reached that deductible amount, you are still 100 percent eligible for the lower rates. You can request an itemized bill so that you can closely scrutinize the costs incurred. If you see something on the bill that does not look right, question it with the provider. You should also compare your bill to your explanation of benefits from the insurer to confirm the proper rates and coverage.

You Can Ask For a Discount

When you are paying cash for a health procedure or test, that cash is leverage that you can use to ask for a discount. Before you request the discount, check to see that you are getting billed the negotiated lower rate for your in-network provider usage. When you get the bill, ask if you can get a discount if you pay the entire amount immediately. Do not worry about getting credit for the costs against your deductible as you can submit the claim to the insurer on your own.

Research

When you are preparing for some new health care costs, check your insurer’s website as they may have some tools to help you out. Often, these tools will show you the average retail price as well as your negotiated in-network price. This means that you can see exactly how much you will have to pay for the health care service. If you are in search of a new health care facility or provider, you can also use the Internet to check for ratings and reviews.

As you can see, there are several steps that you can take to reduce the amount your family spends on monthly health care costs. Each tip that you implement should result in you seeing a reduction in the amount that you are spending for the family health cost. Before you know it, health care may no longer be one of your top monthly expenses.

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