7 Ways You Can Save on Healthcare Costs
It’s not your imagination – everything costs more, including your healthcare. Medical care costs are increasing faster than other goods and services in the U.S. economy. In 2021, U.S. healthcare spending reached $4.3 trillion, averaging about $12,900 per person.
Healthcare costs can be a significant burden on anyone's budget. Whether you have insurance or not, there are still ways to save on healthcare expenses.
Here are seven tips to help you find affordable healthcare options and save money on medical bills.
1. Find Appointments with Affordable Providers
One of the most critical steps in saving on your healthcare costs is finding an affordable doctor who can meet your needs. With the rise of telemedicine, connecting with doctors and healthcare providers from the comfort of your home is easier than ever.
Many insurance providers offer telemedicine services as part of their coverage, which can be a great way to get care without breaking the bank. You can also look for local community health clinics that offer low-cost or free services. These clinics can provide preventative, primary, and even specialist care depending on your needs.
2. Uncover Upfront Doctor's Visit Costs
When you visit a doctor in person, knowing the upfront costs is essential. Many healthcare providers can provide this information to you before your appointment. You can also use online tools to compare the prices of various providers in your area.
It's important to remember that the upfront costs of a visit may not be the only expense you'll incur. Depending on your insurance coverage, you may still have to pay some of the costs after your insurance pays its share. This is known as copay or coinsurance, and it's essential to understand these costs before you choose a provider.
3. Understand Out-of-Pocket Healthcare Costs
Even with insurance coverage, healthcare costs can quickly add up. To limit your out-of-pocket expenses, make sure you understand your insurance coverage. Know what services are covered and your co-pay or co-insurance for each service.
You can also ask your insurance provider if they offer health savings accounts (HSAs) or flexible spending accounts (FSAs). These accounts can help you save money on healthcare expenses by allowing you to set aside pre-tax dollars for medical expenses.
4. Save Money on Prescriptions
Prescription drugs can be a significant expense, but you can save money on these necessary costs. One option is to ask your doctor if there is a generic version of the drug you need. Generic drugs often cost less than brand-name drugs and can be as effective.
Another option is to look for prescription drug discount programs. Many pharmacies offer these programs, which can significantly save your prescriptions cost. You can also look for online pharmacies that offer lower prices on medications.
5. Schedule Your Annual Checkups
Another way to limit your out-of-pocket expenses is to take preventative care seriously. Regular checkups and screenings can help you catch health issues early when they are easier and less expensive to treat.
By staying on top of your preventative care, you can avoid more expensive medical treatments while taking care of your most important asset – your health.
6. Check Medical Bills for Errors
According to the Medical Billing Advocates of America, as many as 80% of all medical bills have a billing mistake.
Wait to pay your medical bill until you receive your insurance company's explanation of benefits (EOB). Providers will sometimes mistakenly bill you directly before sending it to your insurer. Once you get your explanation, compare it to your bill to ensure nothing seems off and that no care is included that you didn’t receive. Call your insurer if you find any issues or need clarification.
7. Explore Financial Assistance Programs for Medical Bills
Financial assistance programs provide free or discounted health care for people needing help with their medical bills, regardless of a patient’s insurance status. Your medical care provider and your state may also provide these programs. Also, search for non-profit organizations or advocacy groups that can offer you some relief on your medical bills.
LASO Health Can Help You Save on Healthcare
LASO Health offers several features that can help you save money on your healthcare expenses. With LASO Health, you'll have access to a network of healthcare providers that can provide you with the care you need at an affordable price.
LASO Health offers negotiated pricing, medical bill review, telemedicine services, prescription savings, and health advocacy to help you reduce medical expenses. Our user-friendly bilingual platform makes accessing these features and managing your healthcare needs easy.
Give LASO Health a try – it’s free and can help you save on medical costs on your first visit. Sign up today at lasohealth.com.