One trip to a doctor and you know that medical expenses can add up quickly. Being strategic about your healthcare can save you time and money. Here are five great ways to save on medical costs and still stay healthy.
Prescription Discount Cards
Be leery of offers you don’t request – there are plenty of scams out there. But it’s always a great idea to search standing prescriptions to see if there’s a discount program associated with your drug. Don’t simply use an internet search engine to look for a discount card or coupons (again this can pull up numerous scams). Instead, go directly to the manufacturer’s website and search for a discount card or multi-use coupon. I quickly found a $20 off coupon for Nasonex that can be used up to six times with qualifying purchase. Or here’s a savings card for Crestor that could make it as little as $18 per prescription. Once again, be sure you are on the actual website for the specific drug. Also, open a dialogue with your doctor about finding the most affordable prescription for your condition. An over the counter or generic drug might be able meet your medical needs with fewer dollars spent.
Paying Cash
Many medical offices will offer a discount if you offer to pay cash up front for your services. In particular, we’ve found that dental and orthodontic practices have an unstated policy of giving you a cut rate (especially if you do not have dental insurance). Always ask your office if there is a discounted rate for paying cash instead of charging the expense.
Coupons or Generics for OTCs
If you need to purchase an over the counter medicine, be sure to check out the generic option. If you feel more comfortable buying a name brand, then at least search for coupons. If you’re confused about the difference between the two, ask your pharmacist to make a recommendation.
Double Check Hospital Bills & Negotiate
Be sure to go over your hospital bills with a fine toothed comb. Check for double billings (it can happen). If for some reason you are unable to pay the bill in full, call the billing department and see if there is any leeway. They may be able to give you a hard times discount or at least set up a payment plan of some sort. Some medical facilities will “settle” your bill if you can make a large percentage payment. It’s worth calling and asking.
Save a Portion of Your Income for Medical Costs
It really isn’t a question of “if” you’ll get sick, but when. Broken arms, tonsillectomies, bouts of bronchitis – all are possible if you’re breathing. Start a Health Savings Account (HSA) to begin saving for those unfortunate days. We sock back a specific percentage from sporadic income into a Health Savings Account. Even $8 or $9 at a time will be beneficial in the long run to help defer costs when they unexpected crop up. Some qualifying high deductible insurance plans include an HSA option. Best of all, contributions up to a set limit can grow tax free. Research your policy to see if this is an option. Even if you don’t have an HSA, it’s a good idea to start a small savings account to put back money to help pay for medical bills.
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Hi Cherie. Wondering if you have any thoughts about a friends situation. She is having her mom come in from Viet Nam. She will be here tomorrow. She is having a hard time finding insurance for her mom in case something happens. Any thoughts?
Cherie, Great article. There are local companies established to create a work-around for the medical expenses. Diagnostics, for example. Hospitals charge over $3K for studies that can be done for $600 cash. Thanks for bringing this to the forefront!
Hi Cherie, I enjoyed your post as I am constantly writing about healthcare costs as well. Something you should look into, for those that pay directly out of pocket is the website Save On Medical. It’s meant for those who are looking to pay for things like Mammograms, MRIs, CT scans etc. but don’t want to pay a lot out-of-pocket. Definitely sharing your post with my followers!