As a new session of U.S. Congress begins, health care is in the news again as Congress heavily debates health care legislation. Meanwhile, individuals and families are footing the bill for their own health care costs, which continue to climb higher each year. 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.If you are looking to gain control of your household health care budget, here are some ideas to try in 2011.
1) Choose insurance carefully
It's a good idea for everyone to have medical insurance. Whether you buy your own insurance or get it through an employer, look carefully at your options. If you have pre-existing conditions or low income, look into state-run plans that might save you money. Always compare different carriers to find the best prices; an insurance broker can help with options. Be aware that some plans for dental or vision coverage can cost more in premiums than you would spend in a year without insurance, so those plans might not be as good a value.
2) Compare prices
Patients can, and should, cost-compare medical and dental services. 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 for care out of pocket, ask if the practice offers a discount for self-pay patients, or if you can pay up front in cash. Practices also might have payment plan options if you cannot afford to pay all at once.
4) Space out care
For instance, at the dentist, your child might be able to get 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) Consider seeing a student
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
Compare prices on prescription drugs. Many discount chain stores offer prescriptions for common drugs for just a few dollars a month. If your medication is not one of those, find out if you qualify for other discounts. Organizations ranging from auto clubs to college alumni groups may help. You also might able to save by ordering medications by mail, or by ordering in volume. Another
idea is to see if your physician can prescribe a higher dose, and then split the pills with an inexpensive pill splitter. Not all drugs are suitable for splitting, so check with your doctor and/or pharmacist first.
7) Avoid the ER like the plague
Do not reflexively go to the ER for an illness or injury. The emergency room is excellent for life-threatening emergencies. But for most illnesses, burns, sprains and some fractures, an urgent care facility can help you more quickly 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 hospital 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. Get regular exercise to maintain a healthy weight and heart health. If you know your family is prone to heart disease or diabetes, eat a healthy diet, monitor your blood pressure (check it at a drugstore or invest in a home blood pressure monitor for under $100), and go over other ideas with your doctor. 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 plan subscribers to open an HSA, which also allows medical bills to be paid 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.
By managing your health carefully, and keeping good records, you can shave down your medical bills. Use all of these steps, and pay attention the benefits you qualify for, to get the most from every health care dollar.
Courtesy:Andrew Housser
Source:abcnews4.com
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