With medical inflation showing no immediate end in site, consumers have to
continually stay abreast of new ways to stay a half a step ahead of the cost curve.
Below are some time tested methods to leverage your healthcare dollar for ongoing
routine costs.
1.Take advantage of walk-in clinics which offer some of the same services
as a traditional doctor's office, but operate at a much lower overhead.
2.Ask your doctor about being able to use home testing and monitoring
devices, instead of going to the doctor's office for routine monitoring.
Good examples are tracking blood pressure, cholesterol, diabetes, etc.
3.Use urgent care centers instead of high cost emergency rooms when
possible.
4.Use free standing surgical and diagnostic centers when possible,
versus those attached to a hospital.
5.Carefully check all medical bills, hospital bills are known to have
some degree of errors up to 80% of the time. You can always
hire a medical billing specialist who typically work on a contingency.
6.When paying cash at the doctor's office (or any healthcare provider)
always ask for the same discount the insurance company gets. In
many cases they will accommodate you.
7. If you need crutches, or other basic medical equipment, it is cheaper
to rent it on your own, then to use the hospital's equipment.
8.Use generic drugs when possible, and split pills in half with a
pill spliter when possible. Also, sometimes natural supplements
like red yeast rice, or policosanol or good substitutes for the
expensive statin prescription drugs.
9.Medical tourism is a great way to save on expensive surgeries like
joint replacements, you can consider both international options, or
even lower cost out of state domestic providers.
10.If you have had a claim denied, you can ask for an internal review
from the carrier, or go to the consumer division of your states division
of insurance.
11.Order your drugs mail order when possible, it will save you approx. 25%
12.Ask your doctor for free Rx samples when it is going to be a short-term
prescription.
13.Use your local health fair when possible, there are many free and low
cost tests available.
14.Use ask a nurse phone lines when possible, most cities have them
sponsored by the local hospitals.
15.Use a health savings account (HSA) if possible, for every $1000 you
deposit in a HSA account, that is the equivalent of $250 - $350 dollars
back in your pocket (depending on your tax bracket) in the form of
taxes not paid as a result of the deductibility of your contributions.
16.Use alternative therapies like acupuncture, massage, and chiropractic
which are less expensive than traditional medicine practices.
17.You can use walk-in diagnostic labs like Quest Diagnostics to save
on basic tests like thyroid, lipid, and liver function.
18.Many medical schools offer low cost services if you are willing to
to work with medical students, and the longer wait times, you can
realize a good savings.
19.Services like Teladoc allow you to talk to a board certified doctor when
you don't have the time to wait in a doctor's office. Generally, the charge
is only $35.
20.Question your doctor for the need fore multiple medical tests. Most
doctors practice defensive medicine and tend to overtest. You can
consult the U.S. Preventive Services Task Force website to see
what they recommend.
21.If you are on an employer sponsored group health plan take advantage
of any wellness programs that are available.
22.Take a small dose aspirin every other day if you are at risk for heart
disease. Be sure to consult your doctor first.
23.Do an annual review of your health plan to make sure you are neither
underinsured, or overinsured.
24.If you are on a group plan, have your spouse and kids go on a less
expensive individual personal policy, it will save you $150 - $300/month.
25.Be familiar with who your network providers are so you don't accidentally
go out of network and pay a higher rate.
