Whether it’s food, clothing, or laundry detergent, we all look for ways to save money. From coupons to sales, we look for the best bargain to drastically drop our spending. But, what do you do to save money when it comes to healthcare? Anything? Believe it or not, there are ways to save money with your healthcare costs.
Put more money in your pocket by saving on individual, group health insurance costs
For this article, our team of Jacksonville insurance brokers at Thomas & Associates Insurance Guidance wanted to share with you some tips and ways to save on your health care costs. Remember, don’t be afraid to ask a doctor or facility for discounts or reduced rates. You never know!
- Try to pay in cash. Often, a discount will be given if you pay in cash up front. Why? Doctors lose money on credit card processing fees, unpaid fees, and collection fees each year.
- Read your bill and read it closely. Believe it or not, errors are not uncommon on bills and you don’t want to pay for tests or visits you didn’t have.
- Stay in-network. When you choose a physician, lab, or facility that is out of network, your medical costs can drastically increase.
- Choose a health plan that is the most cost-effective for you, but that also reflects you and your family’s needs.
- Use a flexible spending account. This helps you keep more of your money, because it allows you to set aside money on a pretax basis for medical expenses.
- Stick to your routine checkups and preventive care; this will potentially prevent future visits and more bills down the line.
- Whenever possible, get free or reduced services like flu shots, pap smears, diabetes testing, and more.
- Stick to a healthy diet and exercise regimen to ward of illnesses and diseases like diabetes and heart disease.
- Stress less. Stress can create a lot of medical conditions to spring up in your body.
- Quit smoking. Smoking can lead to a lot of medical problems, but the ACA says health insurers can charge smokers 50 percent higher premiums for new policies for individuals and small employer groups.
- Avoid the ER whenever possible. Many tests and exams are overpriced at the ER.
- Ask for a generic drug prescription to save.
- Listen to your doctor. Follow the prescription’s instructions. If you ignore this help, you could potentially end up back to the doctor again, which would be an additional bill you could have avoided.
- Choose a high-deductible plan. Sure, meeting the deductible can be costly, but your monthly premium is usually much lower. It’s good to go this route if you rarely see your doctor and you’re healthy.
- Consider a self-funded Group Plan. These rates are typically 20% less than commercial rates. These are offered to a small group with 5 or more employees. Renewal rates are base on group medical claims experience. Low utilization groups will see very small group rate increases at renewal.
Do you need an individual or group health insurance plan?
If you’re in the market for an individual healthcare plan, insurance for small business, employers insurance, or a group health insurance plan, our certified agent brokers at Thomas & Associates insurance agency in Jacksonville, Florida, can help you get the most cost-effective plan for your needs. You cant count on us to find you the right coverage. To get started with us click our health insurance contact page or call 904-730-3900.