A Few Ways to Save $ on Medical Costs
People are living longer than ever before and the quality of those extra years can depend a lot on the state of a person’s health. But, remaining healthy through later life doesn’t just happen. It takes some effort. It also takes proper medical care.
Even with a lifetime of healthy habits, our need for medical care is likely to grow as we age. Over time, that can mean more doctor visits, medications, tests, procedures, and other health-related services.
Unfortunately, the medical needs that often come with aging can create a serious financial burden. Health care costs have risen so sharply that many older adults struggle to afford necessary care. No one should ever have to go without treatment because of cost, yet too many people are forced to face that reality these days.
We’ve compiled a few money-saving steps that can help keep some of the costs of medical care down. We hope you find them valuable.
A few helpful suggestions...
Consider using urgent care services instead of a hospital emergency room (ER). When a health issue is not serious, going to a local urgent care facility rather than visiting a hospital emergency room can make more sense for a variety of reasons. Urgent care insurance copays are often less than ER copays. In most communities, urgent care facilities tend to be more conveniently located than hospitals as well. In addition, wait times are often shorter at urgent care facilities.
Check your pharmacy’s actual price for prescription medications. Believe it or not, it may cost less to pay for prescriptions out of pocket without the help of insurance. Some insurance co-pays may actually be higher than the pharmacy charges for certain medications without insurance coverage. Always ask how the pharmacy price compares to your co-pay amount for each prescription.
Shop around for medications. Surprisingly, the price of medications can vary from pharmacy to pharmacy. Even drugstores down the street from each other may be charging different amounts for the same medication. You may save significantly by calling around and comparing prices. Make sure to try pharmacies at retail stores like Walmart and Target as well as warehouse stores like BJs and Costco. Many supermarkets also have pharmacies.
Shop around for medical tests. If you’re paying for tests yourself or insurance is only paying a small portion of the cost, you may want to investigate various medical testing facilities. Most doctors tend to use a certain lab or facility for testing. However, that does not mean you have to use that particular facility. Different facilities often charge differently for their services. Call around to find out how prices vary and then ask your doctor to order your test at the most affordable site. Of course, quality is extremely important when it comes to medical testing so make sure your doctor has faith in the reliability of the facility.
Negotiate substantial medical bills. If you must undergo an especially expensive procedure that’s difficult for you to afford, speak with someone in the hospital’s billing department about your situation. Plenty of people have trouble paying large medical bills. Most hospitals are willing to set up a monthly payment plan you can manage over time. You may even be eligible for a financial aid program offered by the hospital.
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