Slash The Cost Of Healthcare?

How can you save money on Healthcare?

The simple answer is the way to save money on Healthcare is a lot like the way you save money on other things. By learning everything you can about the product, deciding where to shop and taking advantage of discounts wherever you can find them.

The savings add up fast.

Every year the cost of healthcare rises faster than just about any other product or service you buy. For example, in 2008 Healthcare costs rose almost 7%.

That’s twice the rate of inflation that year.

And when Healthcare gets more expensive your healthcare coverage gets more expensive too. For most of us, the ways to go about saving money on healthcare expenses aren’t always obvious. We don’t see doctors offer in coupons or hospitals that hold President’s Day sales.

And there’s no such thing as free demonstrations for do-it-yourself surgeries.  But there are quite a few ways to save money on your healthcare costs. And our good friend Gary here is happy to show you how.

The first thing Gary does is make sure his health insurance premiums are deductive from his pay check on a pre- tax basis. That way he keeps more of the money he’s earned instead of giving it to Uncle Sam. Gary also chooses in-network doctors whenever he’s sick or needs treatment. By in-network, we don’t mean doctors who appear on-networks like House or McDreamy.

We mean doctors who have arrangements with health insurance companies that will help control costs.

When Gary chooses a doctor outside his network, he most likely pays more money out of his own pocket. To find out which doctors are in your network, do what Gary does and check your insurance companies website or the pack that you receive when you chose your health plan. Get to know your plan well.

Gary also considers costs when his doctor gives him a prescription. To Gary, prescriptions are a lot like the canned peaches he loves. He discovered generic peaches tastes just as good and cost a lot less than brand name peaches.

It’s the same way with prescriptions.

Gary always asks his doctor if there’s a generic alternative to the medication the doctor is prescribing. By taking a generic prescription when one is available. Gary feels just as good as he would with the name brand but he saves money.

And that makes Gary feel even better. Our ever frugal Gary not only checks out generics but also compares prices among pharmacies. Sometimes the cost of prescriptions is even lower through mail order pharmacies.

Gary also knows that one of the best sources for saving money on healthcare is his health plan. His insurance has a call in nurse line. He’s used that to help him decide whether he needs to go to his doctor, an urgent care center or the ER.

And that can be very important.

The cost of an ER visit with most insurance companies is much higher than the cost of visiting your primary care physician or even an urgent care center.

And many health plans like Gary’s offer incentives even cash for taking steps to stay healthy.

By doing a little research online, Gary discovered he could save money on health club memberships and fitness equipment and even earn money by taking health assessments and using a pedometer to track his steps.

To sum it up, by spending a little time online or reading the information that came with your health plan you can learn about dozens of effective ways to save money on healthcare.

So now you know. Until next time, stay smart and stay healthy.

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