Seven Ways To Save Money On Your Health Care
March 9, 2009 by JD
Filed under Health, Information
Last week it was announced that the nation’s unemployment rate jumped to over 8%. And as no one is seeing any signs that we have hit the bottom of this economic nosedive, who knows how many more jobs will be lost.
Talk about a triple whammy. You lose your job. Your rainy day savings money has been wiped out in the free falling markets. And, without medical benefits, you have to pay through the nose for private coverage or forgo coverage and play roulette with your family’s health.
Saving money wherever possible is critical, and fortunately there are some things you can do to reduce medical costs.
Check Under The Hood
Make sure you understand the real costs associated with any medical procedure you may be financially responsible for. Just as in buying a car, the more you know about underlying costs, the better you are able to potentially negotiate lower fees with doctors and care facilities. And yes, medical costs are negotiable, even after the fact. The website for the Centers For Medicare and Medicaid Services provides the true costs for 30 common medical procedures. A more comprehensive list can be purchased for $7.95 from HealthGrades, an informative medical rating site.
Split The Pills Down The Middle
Higher dose pills generally cost about the same as their lower dose formulas. Ask your doctor if it is safe to split one of the higher dose pills in half or thirds to arrive at the required dosage. You’ll save from $190 to $635 self paid prescription on average. If you have drug coverage, you’ll still save 50% on your co-pay.
Go For The Discounts
If you don’t have drug coverage, check out the Partnership For Prescription Assistance website. The site provides links to over 400 patient assistance programs that offer discounts on more than 2,700 medications. And while most of the programs do require proof of financial hardship, some, such as Merck’s discount card program, are free for all income levels.
Pick the Right Place
Where you go to receive medical care can make a huge difference in costs. Trips to the emergency room of your local hospital tend to range between $300 and $1,100. Compare this to the cost of a visit to an urgent care center ($150 on average), a trip to the doctor’s office ($70 on average), and a visit to a convenience care clinic ($35-$45 on average). Even with insurance and assuming a 20% co-pay, that trip to the emergency room could cost you $200 versus just $9 at a clinic.
Reduce Your Risks
Adopting healthy habits can significantly cut your risks of disease and injury. Stop smoking. Lose weight. Eat healthy. And start an exercise program. All will provided enormous benefits to your immunity and overall health.
Check Your Bill
One, you want to check your bill. As many as eight out of 10 hospital bills contain errors, increasing the tab by 25% on average. Two, check the rates you are being charged. Many people with high deductible policies end up paying out-of-pocket for procedures until they satisfy their deductible. Often they will mistakenly be charged a higher uninsured rate for a procedure instead of the lower rate negotiated by the insurer. Just because the insurance is not yet kicking in does not mean you aren’t entitled to that negotiated rate.
Get Free Prescriptions
Ask your doctor for samples of your prescribed medications. They stock a ton of samples from the drug company reps that are always dropping by and are usually willing to give those out and adjust your paid prescription accordingly.
Buy Drugs Online
It is usually cheaper to purchase your prescriptions through an online mail-order pharmacy because, unlike the traditional CVS’s and Walgreens of the world, they will allow you to purchase a 90-day supply for the same co-pay the brick and mortar stores will charge you for a 30-day supply. Most doctors are aware of this savings and are willing to write prescription supplies for longer periods.
It’s tough right now. Saving money is key, even for those of us fortunate enough to have medical insurance. Look to work the system every chance you get.
*****************
Please check out our new community site:
My Life After Forty
Take advantage of our free membership and learn more about staying healthy and fit into your forties and beyond.
*****************
Post Footer automatically generated by Add Post Footer Plugin for wordpress.
