5 Ways to Save on Medical Expenses

There’s no way around it: the cost of healthcare is way too high in the United States. One trip to the emergency room can spell out financial catastrophe for many. Short of moving to another country entirely or simply skipping out on going to the doctor altogether, what can you do about it? We’re here to give you a few tips on how not to go broke and how to save on medical expenses in the process!

Decline Unnecessary Medical Tests – Sometimes doctors order tests for things that aren’t a necessity for whatever you’re being treated for. In fact, according to a study reported on by Time, a staggering 85 percent of ER doctors themselves have admitted to regularly ordering unnecessary tests that they know won’t help them treat their patients better, mainly for fear of being sued over medical malpractice. So the next time you find yourself at the doctor’s office, ask about which tests they can realistically forgo, because those costs sure do add up!

Ask About Setting up a Payment Plan – Understandably, not everyone can afford to pay off a $5,000 bill from an unexpected trip to the emergency room in one go. But fortunately some doctor’s offices and hospitals will allow you to set up a payment plan so that you can pay off the bill in smaller installments over a period of time. If you have a medical procedure scheduled, make sure to ask about this first!

Use Generic Drug Brands – You may be more familiar with name-brand drugs because of advertising, but the generic versions are almost always just as effective as their name-brand counterparts…and much, much cheaper.

Use in-Network Providers – Whenever possible, make sure that whoever is providing your medical care is in-network with your insurance company. PPO plans typically pay for the majority of the cost of treatment when the provider is in-network, whereas with care from out-of-network providers, you may get stuck with the larger portion of the bill.

What to do if You Don’t Have Health Insurance? – Unfortunately this is a reality for many Americans – especially those who work in the service industry or as independent contractors. If you fall into this category and find yourself in a situation where you need to go to the emergency room, fortunately some hospitals offer a discount program for low-income people or those without health insurance, so make sure you inquire with the hospital’s billing department! Whenever possible, research this information in advance so you can know exactly which hospital to go to before a medical emergency even occurs.