Seven Tips To Help You Control Medical Insurance Costs
The issue of heathcare touches the lives of virtually everyone. As a result, there are very few individuals unaware of the ever-raising heathcare expenses . Many of the variables responsible for this “crisis” – for example, new technologies – can’t be controlled by the typical heathcare consumer. Nevertheless, there are some actions you can take that’ll help reduce your out-of-pocket expenses, without risking the well being of you and your family.
First, with the vast majority of health care insurance plans utilizing networks of participating medical providers and hospitals, it pays to stay within this network. Insurance companies are able to negotiate a discount with these participating providers, which translate into fewer out-of-pocket expenses for you, the insured. When you go outside your network of providers, you don’t enjoy these savings and will almost certainly incur greater expenses .
Second, choose generic drugs whenever possible. It has been reported that the pharmaceutical industry spends more than $2 billion advertising more costly name brand drugs. In numerous situations, you can save significant money by using the generic version of a drug. The next time your primary care medical provider writes a prescription for you, be sure to inquire about any generic options.
Third, only go the emergency room for emergencies. For non-emergency care for such things as a cold or minor sprain, consider using an urgent care facility. Of course, if you have any doubts about the severity of your condition, go the ER. Nevertheless, keep in mind that most health care insurance plans charge higher co-payments for emergency room care than they do for an office visit or urgent care.
Fourth, follow doctor’s orders when it comes to medication. Not refilling a prescription in order to save money in the short run may very well price you more long term. Indeed, if you fail to continue with your medication as prescribed by your doctor, you may develop a much more serious medical ailment requiring more costly medical care or even hospitalization.
Fifth, for outpatient surgery, look into using an ambulatory surgery center. Such freestanding surgery and diagnostic centers, that aren’t a hospital or run by a hospital, typically charge less than hospitals for tests such as MRI’s, CAT scans, and bone density scans. Of course, before using one of these facilities, make sure that it’s within your network and that the test or treatment is a covered benefit.
Six, if you suffer from chronic medical conditions such as high blood pressure or diabetes, ask your medical provider about home testing and monitoring devices. Home testing, in close coordination and reporting with your primary care physician, is lower than in-office testing. The next time you visit your doctor, ask whether such testing might be an option for you.
Finally, in terms of health-related expenses , one of the best ways to same money is by taking better care of yourself. With this in mind, numerous health care insurance plans offer programs designed to help keep you healthy, and often save you money at the same time. These may be disease management (e.g. diabetes, heart disease, asthma) as well as routine programs. Preventative programs may include weight loss, stopping use of tobacco, and stress management.
As a heathcare consumer, it may seem at times that there is absolutely nothing you can do to gain some control over the spiraling expenses of health care. While there are variables that can’t be controlled by the average consumer, in this article we have discussed seven actions that you can take immediately to help control expenses . It may also pay to consult with your Human Resources department, or your health care insurance agent, to discuss additional ways to help rein in your out-of-pocket heathcare expenses.
