There are a number of ways to cut your health insurance costs each year, including changing your coverage and raising your deductible. However, your efforts to make health care more affordable for you don’t have to be limited to just what is happening with your health insurance.
Yes, you should evaluate your coverage each year, and do some comparison shopping. But here are some other ways to reduce your health care expenses:
- Shop at the big box stores: From over the counter medications to prescriptions, you can often find better prices at the big box stores. I don’t shop much at club stores, but when I do buy something, it is usually over the counter medication that costs much less when bought in bulk at a warehouse store.
- Buy generics: Compare the active ingredients in name brand and generics. In many cases, there is the same amount of the active ingredients both — but the store brand or generic brand costs less. We haven’t bought name brand gel caps for cold and cough for years because we can get the same effect for less with a store brand.
- Ask about a cash discount: You can sometimes get a discount with service providers if you pay at the time of service, instead of going through insurance. Consider the costs associated, and find out if you can save a little by paying up front for non-covered health care services.
- Double check your bill: You might be surprised at how many hospital bills and other bills have mistakes on them. Before you pay the bill, double check it, and get clarification on any items you have questions about. You don’t want to overpay. Simply taking a few minutes to double check might save you more than expected.
Live Healthy, Reduce Health Care Costs Long Term
If you want to reduce health care costs long term, consider living a healthier lifestyle. Getting the proper nutrition, proper exercise, and proper sleep can go a long way toward saving you money on health care. A variety of ailments and chronic diseases and conditions can be traced to poor health habits. Improving your health can be a great way to reduce your health care costs. In fact, healthy living can also reduce your chances of getting common colds and flus. Your body will be better at fighting off infection when you are healthier.
Consider ways that you can save money by cooking healthier meals at home (and save money on eating out), walking or biking more (and save money on fuel costs), and quitting expensive bad habits like smoking or eating junk food (and save money on buying those products). You’ll soon feel better in general, and save money in the long run.
Bottom Line
You really can save money on your health care costs with a little planning. Think about ways to cut costs and improve your financial efficiency. You’ll live a better life, and more of your money will go toward items other than trying to pay health care costs.
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All good suggestions. I do buy my Zyrtec or Cetirizine at Sam’s Club at 100 tabs, which gives considerable savings compared to a monthly supply at Walmart.
I shop at Costco for not only prescription items but OTC meds, vitamins and supplements. Not only do I get decent prices on everything and excellent quality but the personal satisfaction of knowing they value their employees and compensate them accordingly.