3 Tips to Cut Out-of-Pocket Healthcare Costs

Let’s face it, healthcare costs—copayments, premiums, and deductibles—have been on the rise. Most likely, these numbers won’t be going down anytime soon. That said, here is what you and us as a freelance copywriter Australia can do now to lower your out-of-pocket healthcare costs while still receiving the best of care.

Decide What You Need

Most healthcare plans cover preventive health services—such as shots and screen tests. However, each program provides pros and cons—perhaps lower premiums but higher copayments, and vice versa.

Don’t decide on a plan for the sake of coverage; go over what you need. Ask yourself the hard questions:

  • How old are you?

  • Do you have an operation coming up (or know that you will need one shortly)?

  • Are you in good health?

  • Can you predict that you will be in good health shortly?

  • Are you approaching retirement?

  • Are you in between jobs?

  • How much money can you comfortably contribute to your healthcare plan?

Hopefully, by answering these questions, you will gain more insight into the type of healthcare you need—and the kind of care you don’t.

Consider This Example

For instance, if you are a relatively healthy 20-something with no pre-existing conditions, a Health Maintenance Organization (HMO) plan may be a better (and less costly) option than a Preferred Provider Organization (PPO) plan.

At the end of the day though, you know yourself your best; choosing among the best insurance option that best meets your health needs should be the top priority.

(As a word of caution, remember to get all of the facts and do your research before speaking with an insurance representative.)  

Consider Telemedicine

Telemedicine can be a less costly and more convenient health option than going to your doctor’s in person. 

Telemedicine frees up your (and your doctor’s) time, making it easier to schedule appointments without factoring in commuting and wait times. (Remember, commuting is another cost that needs to consider.)

If your doctor is away on business, you can still receive the same level of care over a Skype or FaceTime conversation.

According to Forbes, now Medicare and Medicaid are taking steps to cover “not-in-person consultations.” And, reimbursements for telemedicine are starting to become commonplace.

It Is New

Remember, telemedicine is new. The regulations are not completely black and white…yet. And, since this is a new way to provide care, there is still much to learn.

Nonetheless, this may be an avenue worth pursuing, especially if you require a specialist who is not geographically close to you.

Choose Generic Over Brand

Here is a secret: generic (FDA-approved) medicine is just as good as brand-based (FDA-approved) medicine.

What some people might get confused with is connecting generic drugs with medicine that has not been approved by the Federal Drug Administration (FDA). Please know there is a (huge) difference. Always, always, always choose FDA-approved over non-FDA-approved.

The FDA states that generic, (FDA-approved) medicine works just as well regarding strength, safety, administration, performance, dosage, and quality as its approved, brand-based counterpart.

The biggest difference comes down to cost. According to Harvard Health Publishing, the FDA stipulates that the average cost of generic medicine is 80%-85% less than the brand name.

So, tell your doctor that you prefer generic medicine over a brand. Voicing this can drastically lower your out-of-pocket healthcare costs.

Final Thoughts

Other than the tips provided above, take proactive steps in your life by exercising regularly and eating a healthy diet. What different ways can you save? How have you cut your healthcare costs? How did you choose your healthcare plan? Let us know by commenting below.  Author: Ashley Lipman.