Saving Money on Health Care Costs
Here are some ways to save money on health care costs.
First, shop for the right insurance. Chances are you are paying too much for health insurance. Unless you work for an insurance company, which probably has among the lowest health plans available to its’ employees you are more than likely paying too much for your health plan. Most employers now offer more than one plan, including new plans could “consumer-driven” plans. These plans have high co payments and deductibles, up to $1000, but low premiums. This type of insurance allows you to build up a cash reserve during years when you use few medical services. That money can then be used in later years to pay co pays, deductibles, and other out of pocket costs for services not covered. Younger and healthy people generally benefit from this service the most and can save money on health care costs. Medicare recipients can save money on health care costs with their supplemental health insurance, like Medigap. These are insurance policies that you buy to pay for medical services not covered by Medicare. The plans differ by the benefits they offer but what’s not the same is the price. Companies can charge whatever they like for each policy. By shopping around through your state’s insurance department, which has a list of approved Medigap issuers, you can save money on health care costs by cutting 30 percent or more from your premiums.
Second, cut your drug costs. Everyone knows or has heard that you can ask if a generic version of your medications is available when your doctor writes a prescription, some doctors will even tell you. But few people realize just how much money they can save on their health care cost by using generics. Generics can be up to 70 percent cheaper than the name brand medications and generics require lower copay. Not to mention generics have proven to be just as effective as the name brand medications. If a generic is not available, ask your doctor if he/she can prescribe an older brand name drug. These older drugs work just as good and can be up to 50 percent cheaper than the newer brand name drugs.
Finally, don’t use a specialist for primary care. There are three types of primary care physicians for adults, general practitioners, family practitioners, and internists. Each one is trained to treat all aspects of your health, not just a particular condition or part of your body. These doctors always charge much less than a non-primary care specialist. And studies show that primary care doctors are generally far more experienced and effective at treating common ailments, such as the flu, earaches, skin infections, etc. than a specialists. In other words you get better care at a lower cost saving you money on health care costs.
