Cut the Cost of Medical Bills

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No matter how frugal you are with money or how well you think you’ve planned  financially for emergencies, if you get sick or end up being injured in an accident, there is a good chance that you will be hit by out-of-pocket medical expenses and if that happens in the thousands of dollars, and if that happens, you could find it very difficult to get by.

 

If you don’t want unexpected medical expenses to put you on the back foot and leave you with a busted budget for months to come, check out these ideas for cutting the cost of medical bills:

Negotiate

 

If you’ve been hit with a bigger out-of-pocket medical bill than you expected, there is no harm whatsoever in asking for a price break. Health providers have their own rules about negotiating on price, but most of them don’t have a blanket ban on doing so, which means you might be able to bring that bill down with a little bit of haggling.

 

Seek Help in the Right Place

 

Did you know that the cost of visiting the emergency room is typically between $300-1000, but the average visit to an urgent-care center will only set you back £150, and a trip to the doctor’s office half of that? That means that carefully choosing where you seek medical treatment is a great way to cut the cost of your bills. Of course, you should always seek to visit the place most appropriate for dealing with you even if it will cost more – don’t put your health at risk – but be mindful of the fact you can save by making better choices where appropriate.

 

Could You Be Entitled to Compensation

 

If you have been injured through no fault of your own, there is a chance that you could claim some or all of your medical expenses and then some back. You can hire an attorney to earn compensation for emotional distress from a personal injury, as well as for the personal injury itself. So, it’s always worth seeing if you are entitled to make a claim. It could make life so much easier for you.

 

Use Comparison Tools

 

You probably use price comparison tools when you’re buying a new cell phone or purchasing life insurance, but do you do the same with your health care? If not, now is the time to check out the price comparison tools that companies like Aetna have on their websites, which allow you to find the most appropriate and affordable doctor to deal with your particular health issue.

 

Buy Generic Drugs

 

Having your doctor write you a prescription for generic drugs rather than big brand names could save you between 30 and 60 percent of your total costs for drugs. If there is no generic available, see if your doctor would be happy to provide a therapeutic alternative instead for similar savings.

 

Take Preventative Measures

 

Of course, one of the best ways to save on the cost of your medical bills is by not getting sick in the first place. Obviously, none of us have total control over this, but there are lots of things, like eating healthily and taking regular exercise that will lower our risks for a number of costly illnesses. Some insurance companies even offer free preventive care measures such as prostate and breast cancer screenings, and some will even offer gym discounts and weight loss programs if you need them, which you should certainly take advantage of.

 

Check the Bill

 

When you are presented with a medical bill for out-of-pocket expenses, you should always check the bill because it really is quite common for them to be inaccurate, and you might have to argue whether a certain service is deductible or not. Doing this will ensure that you never have to pay over the odds.

 

Follow the Rules

 

Whatever else you do, it is of the utmost importance that you always follow the rules exactly. The second you are presented with your health-plan documents, take the time to read the rules about receiving emergency care, in particular, and ensure you know whether it’s necessary to call for approval before seeking treatment. If you do this, then there is a much lower chance that your insurance company will deny your claim, leaving you seriously out of pocket, and possibly in great financial difficulty.

 

You should also make an effort to maintain documentation during every step of the process so that you can prove to your insurer that you’ve done everything right.

 

Do all of the above, and those unexpected medical bills won’t cost you as much as they otherwise might!

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