Medical Savings

Americans are spending more out-of-pocket for medical care than ever before.  With unemployment at an all-time high, many people can not afford to buy health insurance.  Even those covered by insurance are feeling the pinch in higher premiums and extreme deductibles.  There are many ways for consumers to reduce health costs.

 
If you have insurance, you need to understand your insurance coverage thoroughly.  For example, my insurance does not cover routine doctor visits so every time I go to my doctor for my yearly check-up, I ask for a cash discount.  Most doctors will do this so don’t hesitate to ask.  
The same is true for other medical services.  When I needed a CAT scan, I asked the imaging company for a cash discount.  They gave me a $900 reduction and even offered to take payments.

 
Asking questions is one of the skills that I teach in my seminars.  I once asked my doctor where I could pay the least amount of money for the blood work that I needed.   He suggested that I go to Health Styles Southwest, where they provide health screenings at a fraction of what most labs charge.  I saved 60 percent less for my lab work and it was processed at one of the best labs in Arizona.

 
If a hospital visit is in your near future, plan before you are admitted.  Contact your hospital’s billing department to find out exactly what you will be responsible for.  Review your insurance plan to make sure that everyone who will be treating you is part of your insurance’s preferred providers otherwise you might be responsible for their fees.  When your bill arrives, look it over carefully and call both your insurance company and billing department if there are any items you do not understand.   If you disagree with any items, call your hospital administrator.

 
Ask your pharmacist about generic medication discount programs.  If your prescription does not qualify, check different drugstores for the most economical prices.  Cosco has some of the best prices I found and you don’t need a membership to get in.  Just mention at the door that you are there to buy a prescription medication.