Healthcare these days is MAD expensive. According to the Centers for Medicare and Medicaid services, the average American spends over $12,000 each year on healthcare costs. That's a huge portion of your paycheck!
But have no fear, we've got some solid ways for you to save and stay healthy. Check out these top five ways to slash your personal healthcare costs.
When your doc needs to write you a prescription, always ask if there's a generic version available. Generic drugs are just as effective as their brand-name cousins, but you'll pay a whole lot less - we're talking over 80% less in some cases!
If you pick up your meds at your local grocery store or pharmacy, ask if they have any discount programs. Most big-name chain stores have pharmacy discount cards you can apply for, and some even have mobile apps. These cards are available to everyone with a pulse, so don't feel bad about pretending to be a pauper!
If your health insurance offers mail order prescriptions, opting in and having your meds delivered can also save you a pretty penny.
Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) are two common benefits offered by many of today's employers. Both types of accounts can help you save for unexpected health emergencies or put away funds for an upcoming procedure. Money from your paycheck goes into these accounts pre-tax and can be used to pay for prescriptions, procedures, and more.
Just remember that the funds in an FSA account expire each year. Fortunately, the list of approved items for purchase is super-broad. If you have leftover money, you can use it to stock up on things like baby products, eye care items, and even acne medication! Just don't try to use it on a fresh pair of Jordans. Extra comfort insoles, though? Charge-em!
We know Big Medicine™ doesn't like to give much away for free, but there are some resources out there! Many insurance carriers cover the cost of an annual well visit with your primary care doctor, so make sure to take advantage of that if you can.
Check your local community for information on free healthcare resources. There may be location-specific discount programs or free services available at local clinics, like annual eye exams and dental checkups. Many communities and employers also offer free flu shots and other preventative services at little to no cost.
If you're headed to the hospital for a big procedure, don't forget to grab those receipts! Ask for an itemized bill that breaks down all of the costs, and then check it against your health insurance's benefits. Oh, and prepare to have some sticker shock over $10 Tylenol and $100 for that designer hospital gown and matching socks!
This process can be time consuming, but it's a known fact that medical billing errors are frequently made. The last thing you want to do is pay for something by accident! It's much easier to catch errors up front than to try to recoup the money afterwards. If you find an error, contact your healthcare provider's billing office and raise some hell...politely!
The cheapest medical bills are the ones you don't run up! Staying healthy and taking preventative healthcare measures is the best protection against hefty healthcare costs. Sure, accidents happen, but when you eat right, exercise, and get enough sleep, you're less likely to get sick.
Make small changes to your lifestyle and work on kicking unhealthy habits to the curb. Drink enough water, move your body, and work to keep stress to a minimum. We see you guzzling that 8th Mountain Dew! Tiny tweaks in your routine can add up to major health benefits over time - and keep your wallet happy.
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Guess what? The President can't magically fix healthcare costs in your local area...but YOUR local & state government reps can! Here’s three small things you can do that make a BIG impact:
