With the economy in the tank and many Americans having difficulty finding affordable health care, it is becoming increasingly difficult for many to pay their medical bills.
Here are five tips for finding a way to save on your costs without paying more out of pocket.
Find a health insurance plan that offers the best value The cheapest health insurance plans are usually the least expensive, but there are some great ways to save even more money if you’re on a low-cost plan.
A new report by the National Center for Health Statistics found that those on Medicare or Medicaid could save up to $2,500 on average a year on their health care costs, depending on the plan they choose.
Use your credit card to make payments and stay out of the emergency room This is one of the easiest ways to make a big dent in your medical bill without paying for a hospital stay or expensive drugs.
There are a number of options available, including using a credit card, debit card or PayPal to make your medical payments.
Pay a few extra fees If you’re going to spend more on health care than you otherwise would, you may want to consider cutting down on some of the extra fees you have to pay.
These include out-of-network visits and deductibles.
Choose a plan that doesn’t have a co-pay or coinsurance If you are choosing between a standard plan and a high-deductible plan, you should choose a plan with a higher out- of-pocket limit.
A high deductible plan usually has higher out of-network costs, so you may need to pay for a co or coinsense to cover those costs.
Be sure to check with your provider to make sure your plan offers coverage for a COBRA exemption The COB-4 exemption allows you to use certain types of coverage for some out- to-pocket costs.
This means that if you get a health care bill from a doctor, dentist or hospital, they can deduct the costs from your premiums.
If you do have to purchase insurance coverage, make sure you check with the insurer to make certain they have the COB4 exemption.
The American Medical Association and other medical associations say the exemption allows patients to be reimbursed for out-to-pocket expenses while receiving coverage from their health plans.