Wednesday, February 1, 2017

Health Finances: 3 Ways To Bundle And Save On Medical Expenses

Despite the controversy that still surrounds Obamacare and its possible replacement, there's one thing almost everyone can agree upon: Healthcare is expensive. 

Even with a good insurance plan, medical expenses can add up fast. Between premiums, deductibles and copays, many people are left with costly medical bills or simply avoid seeking treatment altogether.

The good news is that there are ways to save even if you don't have the best coverage out there. By bundling healthcare services and making some informed choices, you can learn how to save on medical expenses and keep you and any dependents covered stress-free.

3 Ways to Save on Medical Expenses: Bundle Payments

Health insurance payment bundling is a payment structure that allows you to pay a fixed fee for all the treatments and services pertaining to a particular condition rather than paying for each one individually. 

You can speak to your health insurance provider about their stance on bundled payments; most of the time, payment bundling is offered through employer-sponsored health insurance as a means of cutting costs and providing better care to employees.

Stick to In-Network Providers

Depending on the type of health insurance you have, there may be high costs for visiting physicians and specialists outside of your health insurance network.

Stick to the doctors in your plan's network to avoid paying anything except your co-pay. If you want to visit an eye care professional or other type of specialist, you'll have to see whether or not your plan includes vision services and treatments. 

If not, you can investigate vision insurance plans that will drastically lower the cost of eyewear and eye-related services.

Ask for Discounts and Consider Paying in Cash

If you ask for discounts at hospitals and healthcare providers like All About Eyes, you may find that you qualify for them depending on the circumstance. 

These discounts aren't readily available to people through their insurance providers, so you have to take the initiative and investigate.

You should also consider paying for some services or prescription medications in cash. Surprisingly, wholesale providers like Costco and Sam's Club offer many prescription drugs that are cheaper to buy outright than through insurance.

Cutting Down Medical Costs

Because the healthcare industry is constantly fluctuating and facing a major upheaval over the next year, finding a good plan can be a challenge. 

Payment bundling is more prominent by healthcare providers than ever before, so ask your current provider what type of conditions qualify for payment bundling. 

If you just need ways to save on medical expenses for routine care, ask for discounts, explore your options and openly communicate with your healthcare provider. There are often discounts and other opportunities to save that you might not have been told about when you signed up.

If your current plan isn't cutting it, check out private plans and compare free online quotes from multiple providers. 

At the end of the day, medical expenses are one of those necessities we can't avoid, but we can take measures to ensure our health doesn't have to cost us more than just feeling good.

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