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Healthcare costs can stack up, causing stress and anxiety. Still, you may be paying more than you need to, and we’re here to show you how to save money on healthcare. We’ve researched the most effective ways to cut healthcare costs so you don’t have to spend hours searching online.
Why should you care about saving a few dollars? Well, healthcare costs rise each year, and you could save several thousand dollars that you could use for a holiday or a new vehicle. We created this list of 17 clever ways to reduce healthcare costs based on the simplest ideas that you can implement right now.
1. Save Hundreds of Dollars on Tests and X-Rays
Prices for X-rays and tests can vary from less than $50 to over $500+. If you have the choice, radiology, MRI, and other tests at a hospital are cheaper than those of independent radiologists and specialists. Before you commit to a test, ask about the costs. If it is more expensive than you can afford or wish to pay, ask your doctor for an alternative.
2. Find Lower-Cost Urgent Care
Depending on the accident or illness, attending the emergency room can cost over $1700. Sometimes, it’s unavoidable, but if you have the choice, ask for treatment with a convenience care center or urgent-care clinic. Fees are considerably less, often a few hundred dollars compared to thousands. Research where your nearest clinics are in preparation for an emergency.
3. Ask Doctors About Alternative Facilities
If you require surgery, it’s essential to check facility prices. The cost differences can be significant, several thousand dollars in some cases. You don’t necessarily need to change the surgeon, as they may work in different facilities, such as an independent practice or hospital, the latter being more cost-effective. If the facility costs are too high, ask for a referral to another with lower fees.
4. Take Advantage of Virtual Consultations
It’s becoming more common for doctors to consult via telephone or video chat for minor complaints like allergies, coughs, bronchitis, flu, sinus issues, and other less urgent illnesses. When you call for an appointment, the receptionist may ask you to email a photograph if you have a visible concern, like a rash.
5. Check Your Bill for Common Errors
Always check your itemized bill for errors, especially if the invoice is for a hospital stay or complex medical procedure. Check that you haven’t been overcharged or invoiced for items or procedures you didn’t receive. If you are unsure of anything on the bill, ask for an explanation before you pay it.
6. Ask for a Cash Discount
If you’ve paid health insurance for an entire year without a claim, it’s worth asking for a discount for care. Your insurer may have negotiated rates based on debit or credit card payment. For instance, you could get a reasonable percentage off your fees (10%+) for paying cash for outpatient surgery or imaging.
7. Switch to Generic Drugs
Brand-name drugs can cost considerably more than generic brands. In some cases, you could save 80% or more. Ask your pharmacist if there is an alternative generic brand.
You don’t need to consult your doctor for permission, as the pharmacist is qualified to select drug equivalents. If no generic alternative is available, ask the pharmacist or your doctor if one will become available.
8. Order a 90-Day Supply
You can save money by ordering medication in bulk for a 90-day supply. If bulk supplies do not save you money, another alternative is to ask the pharmacist or doctor if you can switch to a higher-strength tablet.
For instance, if you take two 10mg tablets once a day, ask if it is less expensive to prescribe a 20mg tablet for 90 days.
9. Consider Lower-Cost Therapeutic Alternatives
In some cases, therapeutic alternatives to drugs may exist. Your doctor could refer you for pain treatment with acupuncture, physiotherapy, chiropractic, or osteopathy.
If you don’t want to take statins for high cholesterol, you can ask the doctor for a referral to a nutritionist who can recommend a cholesterol-lowering diet.
10. Get Your Medication Through the Mail
Using a mail-order pharmacy for your drugs might save some money. The first step is to consult your doctor via video chat or phone and ask for a prescription. You can then ask the doctor to forward the prescription to a chosen pharmacy or research online regulated pharmacies and compare prices for your prescription medication.
11. Save Money With Coupons
Some drug manufacturers offer discount coupons that may save you hundreds of dollars over time. You can ask your doctor, search the manufacturer’s website, or visit GoodRX.com to look up your drug’s name and compare prices. Remember that some programs and coupons may be unavailable if you use your insurance.
12. Pay for Generic Brands With Cash
Some generic drugs may cost less than using your insurance, and if you pay cash, you could save on costs, especially if you’re paying your deductible.
Walmart, for example, has 200+ generic drugs priced at less than $5. Check mail-order pharmacies like FamilyWize.org and GoodRx.com, which offer discounts and coupons if you want to save money with generic brands.
13. Find out About Patient Support Programs
Some nonprofits, advocacy groups, and drug manufacturers offer free programs that provide various services to help with medication costs or offer additional resources such as transportation, household expenses, groceries, and more.
In addition, many cancer-specific programs help cover the cost of cancer medications, medical supplies, travel, and child care.
14. Get a Free Consultation With a Pharmacist
Some pharmacy benefit plans and insurers cover the cost of an annual consultation with a pharmacist. This consultation will comprehensively review your medications and help you explore lower-cost alternatives or therapeutic equivalents.
Another bonus is that the pharmacist can check that your medications are not interfering with each other and causing unnecessary side effects.
15. Get a Triple Tax Break From a Hsa
A triple tax break may be possible if you have a high-deductible insurance policy and contribute tax-deductible money to a HSA (health savings account). Discuss the situation with your health insurance provider to determine if you qualify for a tax break.
You can use the extra cash for prescription drugs, out-of-pocket medical expenses, dental, eye care, and other expenses relative to your health.
16. Get a Prescription for Over-The-Counter Drugs
You can use money in a health savings account (HSA) or flexible spending account (FSA) for prescription drugs. However, you cannot use it for over-the-counter medicines with an active medical ingredient unless you have a prescription. There are exceptions, such as arthritis treatments like chondroitin, glucosamine supplements, and insulin for diabetes.
17. Seek Help From an Expert
If you’re making a claim and want to avoid mistakes, booking an appointment with a claims specialist might help prevent unnecessary errors. These experts have the experience to spot mistakes and organize your medical bills. They can work with your doctor if you need to build a case for your claim or appeal a denial.
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