Healthcare costs are on the rise year after year, so now is the time for consumers to act and become health literate to reduce healthcare costs. Much like we shop around for food, clothing, or a new car, we can shop around and ask questions to consider all health benefits options that could save us time and money. By putting forth a little effort, you could save thousands of dollars on your medical bills this year:
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Look at your bill closely – It’s not uncommon for medical bills to contain mistakes. Keep track of your visits, tests and medications, and compare them against your bills. Request a corrected bill if you find an error and notify your insurance company.
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Stay in-network – Medical costs can skyrocket when you visit a provider who is not in your plan’s network. Make sure your primary care doctor and any specialists you may need to see are in your network when possible. You can check which doctors are in your network by visiting your carrier’s website.
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Choose your health plan wisely – Choosing the plan with the lowest premiums or sticking with the same plan year to year may not be the smartest option. Estimate your medical expenses for the year and look through each plan option each year to see which plan is the best fit for you.
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Consider an HSA – Health Savings Accounts (HSA) are continuing to grow in popularity throughout the US. These plans are combines with a high deductible health plan (HDHP). Funds you don’t use grow tax-free and can be rolled over from year to year.
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Preventive care is important – Make sure you and your family are getting your routine checkups and vaccines as needed. This can help prevent medical problems and chronic conditions down the road.
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R-E-L-A-X – Take Aaron Rodgers advice and relax! According to WebMD, up to 90% of doctor visits are for stress-related conditions. Relaxation techniques are effective in controlling anxiety and enhancing the immune system to reduce conditions like high blood pressure and chronic pain.
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Take action towards a healthy lifestyle – A focus on healthy eating and physical exercise can work wonders towards your overall health and reducing medical bills. A healthy lifestyle and weight can reduce future medical conditions and diseases.
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Quit smoking – Under the ACA, health insurers are allowed to charge smokers 50% higher premiums than nonsmokers for new policies sold to individuals and smaller employer groups.
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Get a second opinion – Many tests like MRI, CAT scans, etc. can be very costly to perform and may not be covered by insurance. Getting a second opinion before conducting these tests can help eliminate some unnecessary expenses.
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Consult a broker – Health plans can be complicated. Insurance brokers are familiar with all the new plan options and carriers and can help you find the best plan that will work for you in the situation you are in.
Use these tips to reduce your healthcare costs this year! If you have any questions, or personally need help reducing your healthcare costs by exploring different benefits options – give us a call!