Saving money is not an easy endeavor, and for most professionals, this may seem like a daunting task. With the increasing cost of living and an even more significant increase in the cost of healthcare, it has become significantly crucial for one to devise money saving tips now more than ever. In a survey conducted by the Kaiser Family Foundation in the 2018 Employer Benefits Survey, it was found that the average deductible for an individual in the USA stands at $1573 which is a 53% increase in since the year 2013. Over one-quarter of workers, today have insurance plans that have a minimum deductible of at least $2000.
If you are facing some financial crisis, healthcare can become a deterrent making it hard for you to afford anything else. It may seem like a challenge to stay on track when it comes to taking care of your health on a budget but it not be the case. In this post we will look at some useful money-saving health tips that all professionals can follow and adhere to:
1. Don’t always adopt for re-enrollment of your current health insurance plans:
Yes, that’s right. Most people tend to re-enrolling themselves to the same idea every year, but this could cost you in the long run. Plan benefits tend to change frequently even without you realizing so. So, moving forward, ensure to take the time to compare plans. There are many online comparison tools available that one can use to do that. Some companies even allow one to one counseling sessions when it comes to renewing your current health insurance plans or choosing a new one.
2. Consider investing in a health savings account:
This may seem like a money spending tip but hear it out. Most professionals today are enrolled in high deductible health insurance plans. A top deductible health plan comprises of a deductible of a minimum $1350 for a lone individual and up to $2700 for a family. Health savings account here can help you pay for your medical expenses that may not be covered under your insurance plans. Moreover, getting health savings account for yourself or your family will even help you save on your taxes as a health savings account is directly exempted from taxes. Today, many health care plans offer this service which you can make use of at the time of enrolment itself.
3. Get help from the doctors:
As a patient, you have every right to let your doctor know about your ability to afford a treatment and medical products, services or even a simple medication being provided to you. More than often, you will find that doctors and physicians are more than willing to find a cost-effective and more economical treatment that a patient can afford along with different financing options to cover the costs. This can be instrumental for every working professional looking to lessen the cost of health care. If your health care plan requires the need for a specialist, then you can take the insurance plan’s preferred provider list to your doctor. They can help you pick a specialist that best suits your current project. Looking to get healthcare and supplements for you and your family, now get up to 50% off on selected vitamin supplements at Vitamin King.
4. Make use of free benefits:
Many professionals don’t realize the free benefits that they are entitled to. This includes preventative care visits. Most health plans even offer health advocates that one can visit and who can tell in detail the benefits that you can avail. For people with kids, annual check-ups are included in the health plan and don’t require shelling any additional out of pocket costs. Get prescriptions and a wide range of other medical supplements on Nourished Life. Avail free shipping on all orders above $99.
5. Ask for generic drugs:
You don’t always need to spend a small fortune on getting your medicines. Moving forward, ask your health care provider if you can make a switch to generic drugs. Looking from a medical standpoint, there is no harm in making a switch to generic drugs. These drugs more or less have the same effect as standard brand name medications. It’s a proven fact that the cost of a generic drug is usually 80 to 85% lesser than the brand named meds. You can also save money by consulting your pharmacist and checking out comparison shops as well if you can find meds at a lower rate than the one provided currently.
So, these are some money saving methods that professionals can use effectively. Healthcare may be expensive, but your ability to afford it shouldn’t be.