Healthcare in the United States remains one of the costliest in the world. The prices continue to soar, and so does the number of people in need of medical services. The pandemic stands as a fresh reminder of the importance of premium quality and affordable healthcare for you and your loved ones.
Instead of being taken lightly, all medical conditions should be prioritized. It could become a matter of life and death, after all. However, many people delay buying prescribed medications and going for recommended treatments. Concerns about burning a hole in the pocket due to the expensive nature of medical facilities often become a barrier.
Instead of constant worrying, the focus should be on cutting costs and making treatments, medicines, and services more affordable for oneself. Here are six tips for managing expensive medical treatment:
Put aside money for medical expenses
It is essential to put a certain portion of your earnings aside for medical expenses and potential treatments as an adult. Medical facilities are indeed expensive and all the while important. Regularly saving up money can come in handy later, for instance, during pregnancy or for chronic disease treatment. Your savings can also be of aid in your old age, when quite often, a plethora of health issues await one.
Get legal help
Apart from this, you can also become a victim of medical or workplace negligence. For example, a company’s asbestos products may be the cause of you developing mesothelioma, a rare and deadly form of cancer that is quite expensive to treat. It is best to seek professional legal help to hold the guilty party accountable and secure money for treatment and lost wages in such cases. If you meet the settlement criteria, you can successfully win a handsome claim that will help you overcome your financial woes.
Open a savings account
You have a few options here. An HSA (health savings account) allows you to save money for medical expenditures. In some cases, employers can also contribute money to your HSA account. Medical expenses incurred will be subtracted from this account. Moreover, you can save without paying taxes. You can open an MSA (medical savings account) if you are self-employed.
Another option is an FSA (flexible savings account). It is tax-free as funds contributed and withdrawn are not subject to payroll, income, or any other tax. They are subtracted from your income(s) before tax. However, unlike an HSA, you may have to use up the funds in an FSA before a specified time.
All of these accounts require annual contributions.
Prioritize routine health screenings and medical check-ups
Going for routine health screenings helps avoid future complications as potentially threatening diseases and illnesses are detected early on. The sooner you identify signs of an impending medical problem, not only is your and your loved ones’ safety guaranteed, but also the treatment is shorter and less complex. Therefore, this measure limits extra health care costs in the long run.
Different screening schedules are recommended according to age, gender, and doctor’s instructions. As per Healthline, physical exams are suggested annually if you are above fifty. If you are younger with little to no medical history, every three years suffice. Besides this, prenatal care can help avoid complications at the time of delivery if you are pregnant.
Moreover, doctors strongly recommend medical check-ups for people above the age of forty. This age group is prone to numerous conditions, such as glaucoma, dementia, breast cancer, prostate cancer, heart attack, and beyond.
Choose in-network healthcare providers
An in-network healthcare provider is a service center or healthcare professional on a contract with your health insurance provider. Doctors, hospitals, labs, outpatient and urgent care centers are all available within a particular insurance plan. Opting for service providers covered by your plan entails receiving services at a discounted, pre-negotiated rate. Whereas services claimed from out-of-network sources may cost more as they operate independently of your health plan.
All health insurance plans come with a network of doctors and services. You can browse the internet and seek recommendations from your friends and family to find an insurance provider that charges a decent premium and has a broad network.
Watch your health
Self-monitoring and making informed health-related decisions are crucial for avoiding health problems down the road. Strive to abstain from smoking and alcohol. If you have diabetes and blood sugar, stay away from food that aggravates these conditions. Similarly, regularly monitor your body for moles and lumps. Chest pain, troubled breathing, abnormal pain, and bleeding may evolve into threatening conditions. Watch your weight as well.
Switch to cheaper medication
Various cheaper, generic medicines with the same active ingredients as their branded counterparts are also available. You can ask your doctor for safe and suitable alternatives instead of the ones they usually recommend otherwise.
According to Mira, branded antibiotics cost around $221.75, while generic antibiotics without insurance cost approximately $42.16. The standard medications are low-priced as their manufacturers do not incur the same level of Research and Development costs to introduce the drug in the market.
Apart from that, you can save up money by comparing prices. You can check out which pharmacies offer the lowest prices in your area on price medication tools, such as InsideRx.
Furthermore, instead of restocking routine medication every thirty days, request a ninety-day supply. Bulk buying from the same supplier can get you discounts.
The costs of modern-day healthcare are amplifying. As a result, necessary quality services remain inaccessible to many. When faced with a crisis, people are left in a state of disarray over financing treatment and safeguarding the life of themselves and their loved ones. Instead of worrying, you can use the tips mentioned above to ensure a smooth money supply for potential medical procedures.