Health insurance is vital, but with so many other financial responsibilities, everyone likes to keep the costs down. But just how do you do that? Here are some simple and straightforward tips:
Claim Your Freebies
If you delve into the Affordable Care Act, there are some preventive health services that are available for free, even if you have a high-deductible plan. Ensure that your hospital or doctor’s office accurately codes any such procedure you undertake. This way, the insurer will know it is a free healthcare service and therefore cover the cost.
You can easily access the list of free screenings and procedures by visiting the federal health insurance marketplace (healthcare.gov).
Before you get a screening or test, check to be certain of the costs covered. Do not take the route of Money Talks News Founder, Stacy Johnson, who found out that most of the screenings and tests, apart from the annual physical examination, were not covered.
Visit medisupps.com for supplement plans.
Compare Healthcare Providers Costs
Hospital costs tend to vary a lot for the same procedures. Of course, the cost should not be the only factor to consider when choosing a healthcare provider. However, it should be an integral part of the process. When shopping around, ensure you identify your insurer so that you get a rate quote of what it would be charged. Chances are your insurer has already negotiated lower costs with the healthcare provider.
Pay Out of Pocket
Tell your practitioner that you have a high-deductible plan and ask whether there is a discount for paying in cash. You might be surprised by how much discounts these practitioners give when they learn you are willing to pay out of pocket.
If you cannot afford to pay in cash, ask the hospital or doctor for a low to no-interest installment plan. Also, do not forget to ask if there is a less expensive treatment option.
Save on Medications
Always ask whether a generic version of the drug they have prescribed is available. Do not stop there, shop around for cheaper, but functional options. More often than not, you will save some money by buying a generic drug from an ideal pharmacy.
Stay in Your Network
Even if you have a high-deductible plan and can afford to pay out of pocket, sticking to healthcare providers in your insurance plan’s network will have you paying a lower in-network rate.