As human beings, we are remarkably fragile creatures. Even something as simple as the flu can knock us off our feet and land us an expensive trip to the doctor’s office. Periodic trips to the doctor add up to a fair amount of money and this does not even include the enormous costs of chronic conditions or medical emergencies.
Medical insurance claims to protect people from possible bankruptcy owing to medical costs, but even this back-up can wind-up being very expensive. There is no denying that Medical insurance is a necessary expense, but there are ways to try and reduce these costs and take the sting out of month-end payments.
Try to stick to your official network providers
Different medical insurance companies have arrangements with everything from General Practitioners and hospitals to laboratories and specialists. These agreements usually include a set-rate that is to be given to people on a specific medical scheme. These rates are generally lower than the ones that are given to people outside of the network.
Luckily it does not have to be a guessing game and a comprehensive list of network providers can be sourced from your insurance company. If you are abroad and do not have the option of visiting a network provider in an emergency, then it’s best to use medical tourism guides. Dental Tourism is a guide that offers a full list of the best dentists in Costa Rica to its users.
Find an insurance plan which works for you
When it comes to picking an insurance plan, there are pages filled with insurance jargon and rates that can confuse the savviest of people. Before getting overwhelmed by the details, spend some time researching the important factors that contribute to medical insurance plans.
Some of these factors include coinsurance, deductibles, and copayments, all of which need to be specially chosen to suit you and your family’s medical needs. It may be tempting to pick the plan, which has the lowest monthly and annual premiums, but these options tend to come with larger out-of-pocket rates.
Prescriptions can be optimized
If a person has been given a prescription for long-term medication, then the need must surely be great enough to warrant continual medicating. These are medical expenses that obviously cannot be avoided but they can be handled smartly. To reduce the total amount of money spent on prescription medication, investigate finding generic options that perform the same functions.
These drugs tend to be cheaper than their prescription counterparts but are just as effective. Other options available that will help reduce prescription drug costs include requesting samples from doctors, buying supplies in bulk, or optioning over-the-counter brands.
Look at what you are being charged for
When bills come on mass at the end of the month, it is sometimes easier to just pay the account and get rid of the evidence. This coping mechanism may reduce momentary anxiety, but you could wind up paying more than you should be by avoiding the details on medical bills.
When a bill comes from a medical provider or insurance company, it is important to read through each line. Look carefully at what you have been charged for and compare it to your records. Even large companies can make a mistake with billings and they are unlikely to correct the mistake for you.
Consider which medical facilities you visit
There is not a set-rate for treatment across all medical providers. It is not possible to compile a list of all the costs of all medical procedures provided by every facility. But it may be worthwhile doing some research on the medical services which you generally use and finding where it is cheaper to acquire these services.