4 Hacks to Save Money on Your Healthcare

Balancing your budget and bills on a daily basis is challenging enough. When unexpected health care expenses arise, it throws a major wrench into that balance.

Fortunately, there are ways to reduce those costs from several different angles. Check out these under-used strategies to save money on healthcare.

Know your insurance benefits

If you have health insurance (or dental or vision insurance), you pay a pretty penny for certain financial benefits. If you don’t know what those benefits are, though, you might forget to take advantage of them.

Take a look at your policy. Find out what types of services are considered to be preventative services and should be 100% covered by insurance. This applies to all your health-related insurance plans. For instance, dental cleanings are typically fully covered by insurance.

With all those in mind, make sure you take advantage of those services. They’ll help you prevent future health problems that will be far more costly.

Hunt for prescription savings

Prescription medications can be a major healthcare expense, especially if you need to use certain medications long-term. As you might be aware, per person spending on prescription drugs in the US is way higher than other countries. One option is to save on your prescriptions with tools like GoodRx. This service will shop around for the best prices on the medications you need, in addition to looking for coupons and other ways to save.

Ask for cash payment options

Most people assume that because they’re paying for their insurance, it will save them money if they use it for all their medical needs.

In reality, providers often charge less for certain procedures and tests when you pay in cash.

When you use your insurance, the provider’s staff has to spend valuable time corresponding back and forth with the insurance company. When you pay in cash, you save them money by bypassing all of the administrative burdens of dealing with your insurance company, so they pass that on to you. In addition, providers often have negotiated higher prices with insurance companies to make up for the lower prices they charge self-pay patients.

Comparison shop for imaging procedures

Another place you can save on healthcare costs is with imaging procedures like MRIs, CT scans, X-rays, ultrasounds, and similar tests.

There are probably many imaging centers in your area with a wide variation in pricing, and lower prices don’t always mean lower quality.

Shop around for your medical imaging, using tools like Imaging Panda. Our team researches the imaging centers in your area and helps you find the cheapest prices near you.  

Finding ways to save money on healthcare

The older you get, the more medical expenses you’re likely to have. However, many people assume healthcare is one of those expenses that “costs what it costs.” The result: they wind up spending far more than they should, often amounting to thousands of dollars.

The truth is that there are many ways to save money on healthcare if you have the right tools and strategies. Use the tips above to get the care you need without blowing through your savings. To get started check out our Imaging Panda tools today.