Simply Nerdy Mom: Careful Ways Of Cutting The Costs Of Healthcare

Tuesday, June 23, 2020

Careful Ways Of Cutting The Costs Of Healthcare


Pic by EVG Photos - CC0 License


Health care is one of the provisions for our family that, while we might not want to deal with how costly it can be, we certainly don’t want to risk going without. A lot of families pay more than they should out of a fear of being under-insured. However, there are plenty of ways to make sure you’re only paying your fair share without risking losing the coverage that you need.

This is a collaborative post.


Are generic drugs the same?

A lot of people will say that generic drugs are the exact same as brand name types, so there is no point paying more for the branded type. However, while this is true can help you save a lot of money, it’s not always the entire story. Generic drugs have to have the same active ingredients as the others, but there are other ingredients such as those that help release them through the body that can be different. As such, the effectiveness and quickness or a drug’s intended effects can differ. It’s always important to ask your doctor or pharmacist about the expected differences when it comes to generic drugs.


Can telehealth help you save?

When it comes to getting a consultation or just a general examination, many of the costs of seeing a doctor come from the fact that you’re taking up the valuable resources of practice time and space. However, for that reason, telehealth sessions can be a lot more affordable. Ask your doctor if they offer telehealth services or consider switching to a provider that does. This can help significantly decrease the costs of getting a simple check-up.

 

Upgrading your existing plan

If you’re on Medicare, it could be possible for you to get better coverage at a reduced price. For instance, you could get a Medigap, or Medicare supplement insurance, plan that makes your plan more cost-effective than non-Medicare plans offering much the same. The different Medigap plans, lettered from A-N, have different limitations of what they do and do not offer so it’s important to choose the right one for you. For instance, a Medigap Plan D might have two different prices from two providers, but they are providing exactly the same service. As such, always make sure you’re choosing the less expensive Medigap plan as they have to provide the same thing regardless of who is providing it.


Make use of HSAs

If you’re dipping into your savings for a treatment, make sure you’re dipping into a Health Savings Account. HSAs are entirely tax-free, meaning you can save without losing any of those savings along the way. As a result, your HSA can be only be used for medical expenses. You can’t take it back out if you decide you don’t need to worry about those costs anymore.


When you’re considering selecting any kind of health care deal, it’s vital that you do your own research into the options available. Depending on your personal needs and local providers, these can change wildly. However, in most cases, there are real savings to be found by searching the market once in a while.


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