How to Save Money on Healthcare

Monday, 25 Oct 2010 12:21 PM

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Healthcare expenditures cannot be avoided, but there are several ways that you can save money on them. Here are a few pointers:
  1. Shop for health insurance: In order to save money on out-of-pocket healthcare expenses, obtain healthcare insurance. Before purchasing insurance, check if you fall under the purview of free healthcare brought about by the new healthcare bill. This is income based; so, check if you are eligible.
  2. Negotiate insurance premiums: If you are purchasing healthcare insurance, check if you can negotiate and reduce the insurance premium. Also, when getting treatment, stick to the providers that are listed in the policy details. This way the cost on your policy will be lower, which reflects your healthcare expenses and future premiums.
  3. If you are young and healthy, opt for a high deductible: If you believe you are in good health and are young, chances are that you will recuperate well or fight most infections efficiently. Opting for a higher deductible saves valuable dollars on your premium and saves on your overall healthcare cost.
  4. Obtain generic or prescription pills whenever possible: There are several over-the-counter generic medications that do the same job as prescription pills and cost a fraction of the prescription cost. Check with your doctor. Also, the new healthcare bill recommends that certain prescriptions be provided free of cost to the insured. Check if this is applicable in your case.
  5. Use preventitive care: Prevention is the best cure, as they say. Stay away from flu-infected people, get vaccinated, get adequate rest in case of exhaustion, eat a healthy diet, and so on. These simple preventitive steps will help boost your immune system and help you  avoid frequent visits to healthcare professionals.
  6. Seek timely treatment: If you suspect a health problem, seek immediate help. This will not only cure you quickly but also helps avoid other complications that can occur due to negligence. You can also make use of free healthcare checkups that are offered by several healthcare companies and social service organizations.
  7. If you change jobs, extend insurance until the next job insurance kicks in: This is covered under the COBRA regulation. Check if it is applicable to you.
  8. Make use of free healthcare and the provisions of the healthcare bill: The healthcare bill has several new provisions for low income groups and a certain categories of workers. Check if these are applicable to you.
  9. Choose the coverage on your healthcare insurance carefully: Opting for complete coverage can increase healthcare premiums drastically. So choose your coverage by considering your age, health condition, health risks, etc.

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