6. Learn the power of negotiating
Many people don’t feel like negotiating is a good idea when it comes to anything medical-related because they think it’ll lead to low-quality services. Well, that is not the case!
Getting a discount on your medical costs
From doctors to billing departments and health care specialists, most people working in the medical area are open to negotiations and discounts as long as we know how to ask for them.
- Ask if you could get a discount if you pay in advance for all of the services needed;
- Ask if there is any policy available for getting a discount if you pay everything cash;
- Speak to your doctor about your healthcare concerns if you have a high deductible or other issues, the doctor may take your finances into consideration and reduce fees.
Bottom line: Sometimes all you have to do is ask a question; you’d be surprised by how much health care providers are open to offering discounts and helping others out financially.
7. Using technology will also get you discounts on insurance
As the number of technology users increases, more and more insurance companies create partnership with tools like fitness trackers to minimize risks. Therefore, some insurance providers may provide discounts or incentive plans that will save you money, or give you financial advantages.
Your best shot at getting a discount this way is to ask a broker or your employee benefits manager about your chances of reducing costs using new technologies or with health incentives. One example is “UnitedHealthcare Motion” which offers financial reimbursement incentives of up $1,500 per year. These types of plans provide good opportunities for savings.
Bottom line: A task as simple as using an app or registering on a website can offer you the benefit of saving money on the long term.
8. Save money on prescription drugs with your health insurance
Before choosing a health insurance provider or renewing coverage, find out where they stand with the prescription medications you normally take. If you have certain prescriptions that you regularly will need to fill, ask for a list from the healthcare insurance provider and see where those medications stand on their list.
There are often several options for medication that will rank at different costs on your insurer’s drug list. By bringing the insurers list to your doctor they may be able to choose options that are more cost-effective for you.
Bottom line: If you or any other family member is taking prescription meds regularly, you should talk to your insurance company and find out if there are any discount offers available.
9. Cut down on unnecessary medical procedures
Our physical health is by far the most important thing in our lives. That’s exactly why it’s very easy to fall into the trap of getting tests and appointments over and over within short periods of time even though it’s definitely not the case.
Review your past spending on medical costs for preventative care for yourself and your family, and try and plan ahead with the help of your physician for upcoming preventative visits like check-ups and other regular services to see if you can negotiate rates, as discussed in our next point below.
Bottom line: Talk to your medical provider and find out which procedures are actually mandatory to maintain your family’s health and follow that plan regularly.
10. Comparing & negotiating health care service options
Choosing doctors and medical service centers by shopping around and comparing rates could save you a great deal of money. This strategy to save money relies on two factors. One is the availability of services from different providers in your area, and the second is whether your health plan will allow you to choose from different providers.
Once you know what your options are for services, call around and find out what the going rate is for procedures or services you will use. You will not have time to do this in the middle of a medical emergency. Take the time to find out your options, before a medical emergency occurs.
Bottom line: The best piece of advice in this case is to talk to every health care provider, cover every detail of each offer and remember to ask for discounts because they may be hidden from you!
