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(HealthNewsDigest.com) – It’s a new year, and many people have made fresh resolutions to take care of their health. At the same time, health care costs are continuing to climb. In fact, medical expenses are often a major contributing factor in household debt. Studies have found that some 62 percent of bankruptcy filings are because of medical bills.
The good news is that you do have options. Review and try these ideas as the year starts off to gain control of your household’s medical bills in 2011:
1. Be a savvy insurance buyer. Look carefully at health insurance options. If you have pre-existing conditions or low income, research state-run plans that might save you money. Compare different carriers to find the best prices. Calculate carefully for dental or vision coverage. Some plans cost more in premiums than you would spend in a year without insurance, making those plans a poor value.
2. Price check. With today’s stricter limits on coverage and often-higher deductibles, comparison shopping is more important than ever. Especially if you have a significant procedure approaching, find out the cost first. Many medical practices have a billing manager who can tell you the cost of a procedure, which can help you prepare and plan finances. Get a second opinion on both cost and care.
3. Ask for a discount. If you pay by cash or check, rather than filing an insurance claim, ask if the practice offers a discount for self-pay patients. Practices might have payment plan options if you cannot afford to pay all at once.
4. Space out care. A dentist might give your child X-rays in one visit and a fluoride treatment in the next to keep bills more manageable. Adults might be able to have lab work done at intervals, instead of all at once.
5. Try a doctor in training. In some areas, dental schools offer care that is supervised by experienced dental experts. You’ll help train the next generation and keep money in your pocket.
6. Save on medications. Many discount stores offer prescriptions for common drugs for just a few dollars a month. Also check out other discounts. Organizations ranging from auto clubs to college alumni groups may help. You also might be able to save by ordering medications by mail or in volume. Another idea is to ask your physician or pharmacist about purchasing larger pills (which can sometimes be more cost-effective) and then splitting them for your dose.
7. Avoid the ER. The emergency room is excellent for life-threatening emergencies. But an urgent care facility can treat most illnesses, burns, sprains and some fractures at a lower cost. For situations like flu or strep, a retail clinic might offer fast care at a low cost. Many of these clinics accept health insurance.
8. Read your bill. Especially after a surgery or hospitalization, go through your bill line by line. Call the billing office with any questions or concerns. You might be able to knock down the price by eliminating errors – or agree to a payment plan.
9. Stay healthy. Monitor your own health and take common-sense steps in order to stay as healthy as possible. Some communities offer health fairs with inexpensive blood screenings. Always see a doctor if any condition raises an alarm.
10. Use tax benefits. Many employers offer flexible spending arrangements (FSAs), which allow employees to pay for some medical expenses with pre-tax dollars. Another arrangement is a health savings account (HSA). A qualifying high-deductible insurance plan allows you to pay medical bills with pre-tax dollars. Finally, if your medical expenses in a given year total more than 7.5 percent of your income, they also might be tax deductible. Keep good records and tax advantage of these benefits.
Managing your health carefully and keeping good records can help you get the best value from medical care. Even though costs are increasing, you will feel a bit better knowing you are getting the most from every health care dollar.
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