Looking after your health shouldn’t result in unhealthy debts. If your medical bills are starting to chew through your funds, it may be time to take action. There are lots of lesser known schemes and tricks that can reduce costs. Here are just a few.
Get a tailored insurance plan
Health insurance rates can often be a huge expense. Some companies such as Health Insurance Innovations specialise in being able to provide more flexible and more customisable insurance plans. Opting for something like this could allow you to come up with a better suited and less costly insurance plan. Deductibles are also something to be considered if you rarely need to visit a doctor – this is the amount of money you are willing to spend on medical costs before your insurance company has to step in. Raising your deductible will hugely decrease your rates, which is handy for those that hardly ever need to make a claim.
Shop around for meds
When prescribed to medicine, don’t always go with the big brands. Whilst these may get more advertising, they may be just as effective as a lesser known medicine brand that still has to pass the same regulations. Shop around online and always read reviews to see what other customers have to say.
Use an FSA
Some companies will provide an FSA to their workforce – this is very much worth taking advantage of. Some money each month is deducted from your wages which then goes into a savings account that can be used on medical expenses. Even if you don’t need to see the doctor, it’s worth making use of these savings by stocking up on household medical supplies such as plasters and anti-histamines. You can also get prescription glasses from many opticians using your FSA. Some FSAs will even allow you to roll over your savings to be used the following year.
Join a farm bureau
Farm bureaus are state organisations set up primarily for farmers – although you don’t have to be a farmer to join. Being a member of a farm bureau costs a small payment each month but can entitle you to massive discounts in many areas – one being healthcare. Do some research into your local farm bureau and see what perks they offer and whether it’s worth joining up.
Double-check your bills
Not all of us will check over our medical bills to check that everything has been counted up correctly. Whilst billing errors don’t happen often, they’re not completely unheard of. Check that both the medical practice and your insurance company have billed you for the right amount. If you’ve been overcharged, you should be able to make a claim and get a refund on this excess pay. In rare cases you may even be able to make a legal claim for compensation, but this is generally only if there’s been some medical negligence or a hospital or insurance company is outright refusing to pay a refund despite clearly making a billing error.