9. Explore off-exchange options.
Do not rely on government exchange as your source of reference for health plans. These government sources tend to provide people with only the plans that qualify you for government funding in your area. To remove this limitation, take your comparison outside government boundaries. Explore your options at private online health, such as eHealth.com. Several compliant plans can be found in the individual market, which can be leveraged to enroll in subsidy-eligible plans you will ordinarily not find in government sources. Likewise, the peculiarities of these health care options also vary from state to state. You can see where your state stands in the league of states offering the best health care plans in your country.
8. Opt for a Health Saving Account (HSA).
You will save considerably by choosing health savings for your health plan payments. Why? The HSA money is tax-deductible. Therefore, you can withdraw money without tax and enjoy tax-free interest overtime. The tax break is easier when you accumulate your account frequently in preparation for when the need to spend will arise.
7. Consider generic medications.
You will be short-changing yourself by paying a premium for a name brand medication. In this case, the smarter option would be a cheaper generic (if you can find one). According to the FDA, both over the counter and prescription generic must be of the same strength, dose, safety, and efficacy. The only difference is that you can save up to 50% in the case of the generic medication. For instance, name-brand drug prescriptions of a drug like Zocor will cost more than the generic one, although the efficacy and strength are the same.
6. Be open to health sharing plans.
Health care is now more flexible than ever. You can team up with other beneficiaries to share suitable health plans. The group can help members to foot extra medical bills. In most cases, the basic requirement is for intending beneficiaries to be at a certain, uniform, health level. The main advantage of this arrangement is that beneficiaries can enjoy up to 50% less in premiums than similar offers in the conventional health plan market.
5. Prioritize annual re-evaluations.
When it comes to health insurance, always be open to a re-evaluation of your mindset. If you are rigid on your medical cover for a long time, you may miss out on better premiums and arrangements available in other health insurance plans. To avoid this, evaluate your health insurance plan every year to make room for improvements.
4. Always negotiate.
Do not accept medical bills hook, line, and sinker. Statistics have it that 80% of medical bills have at least one error. So, it is important to review medical bills and statements to ensure there are no inaccuracies. Wherever and whenever you find inconsistencies, ask your insurance company for clarifications.
3. Consider unconventional health insurance.
The health insurance world is always evolving. You would be surprised to see how long the list of possible health care covers is. In addition to this, there are several upcoming models designed even to make health care access easier. You can speak to your insurance company for more information.
2. Re-consider medical tests.
Paid medical tests are not always necessary. So, feel free to double-check with your physician if certain lab tests, CT scans, MRI, X-rays, and others are really needed. It is not strange to see physicians streamline their approach to save costs and achieve results faster. If you do not do this, you would be surprised that your health cover bill’s biggest chunk might just come from avoidable tests.
1. DO not delay payment.
Paying with deadlines puts you at the risk of delays. Likewise, paying after surgery or hospitalization deprives you of subsequent investments. It is better to pay before or in full for an upcoming procedure to increase your chances of getting a discount.