Rich or poor, we all like to save, but who among us is ready and willing to work for those savings? While your health plan costs keep rising every year there are proactive ways and things you can do to limit this increase. Below is a list of things that are within your control and can have an impact on your cost. Don’t let your health care provider call the shots, do something about it!
Married couples for some reason sustain separate health plans despite the fact that it is a financial disadvantage to both. Most plans allow for a spouse to be added, so examine which plan better meets both your needs and then drop one and join the other. You’ll save money this way.
Incentives in the form of annual or monthly discounts are sometimes offered in health insurance plans. It can be as simple as getting a yearly physical, or not so simple as getting and using you gym membership, promising to stop smoking and using preventive care programs.
A healthy life style can certainly make a difference in the number of yearly doctor’s visits, the results you receive after your annual check up and what risk you pose to your health care provider. You will always come out a winner not only for insurance purposes but for yourself by practicing good habits such as; regular exercise, regular checkups, controlling your weight, incorporating wellness programs and stopping bad habits like smoking and drinking.
Health savings account (HAS) might be available through your employer. If so take advantage by allowing pretax contribution to be deposited in your HAS account in order to later be used to reimburse yourself for out-of –pocket expenses like prescription drugs, dental costs and co-payments.
Prescription drugs can cost a fortune. Reduce these costs by receiving you drugs through the mail. You can order them either through a conventional pharmacy or online. You may even be able to order 3 months worth of medicine for the cost of one depending on your health plan. When ever possible ask your doctor or pharmacist or generic drugs, they’re cheaper.
Your health care plan may offer more than you think which is why it is worth taking time to look over and even study all relevant material your insurance company can provide. You may find out that you are covered for services such as alternative medicine and child dental care, and learn of discounts when purchasing exercise equipment or even a helmet. Remember to keep the bill!
Free services are provided throughout many communities for those with limited to no health care insurance at all. Local WIC programs and government office can offer free flu shots and well-child check-ups. Clinics and hospitals regularly run free screenings for blood pressure, cholesterol, and mammograms. Taking advantage of these services shows you have a proactive nature which could end up saving both you and your insurer money.
Mistakes are sometimes inevitable. Make a habit of checking all statements you receive from your doctor or hospital. You may be surprised to find you have been charged for a treatment or procedure you never received, furthermore verify that all coverage, and discounts have been applied then contact the billing office. Ask your insurance company to review your claim if they have sent you a statement or reimbursement you believe is wrong.
Deductions for medical expenses can be had if you itemize all your deductions and your total health expenses surpass 7.5% of your adjusted gross income. Medical expenses include services and medical aids such as eyeglasses and hearing aids.
Shopping is often what it boils down to. Taking time, to compare, take notes and making some calls will save you money. Make a list of the special needs you have, and features that are of the upmost importance to you. Drug coverage may be very high on your list and the option to choice your physician too. But when comparing, don’t forget to look at limitations, exclusions and deductibles as well as co-payments and coinsurance costs that you will by required to pay directly that can quickly add up if an unfortunate event should occur.
Yes, I know the list seems long, but it’s better to have many options and possibilities on how to save than too little. Make sure you know your needs and your health insurance plan. Check your bills and statements for errors and lastly, shop around incase there’s a better offer out there.
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