This shop has been compensated by Collective Bias, Inc. and its advertiser. All opinions are mine alone. #LifeInCheck #CollectiveBias
Medical bills can add up quickly nowadays. However, by following some smart, easy-to-implement tips, you can better manage your health-related expenses. From switching to generic medicines to using the LifeInCheck™ Prescription Drug Plan, I’m sharing my best tips today.
1. Switch to generic medications!
One of the best tips to save money on your medical expenses is to switch to generic versions of your medications. Some people may have a misconception that name-brand drugs are more potent or more effective, but the truth is that generic drugs are just as effective & safe. Keep in mind that generic drugs often cost much less than their name-brand counterparts.
2. Use the LifeInCheck™ RX Drug Plan!
There are a number of prescription drugs that we rely on regularly. Between my daughter’s asthma and the various prescriptions that my husband and I take, we spend quite a bit at the pharmacy every month. If we paid the regular retail price every month, our bill would be in excess of $200! Luckily, we recently discovered the LifeInCheck™ Prescription Drug Plan, which is a smart, easy way to manage those prescription costs. It’s ideal for individuals with high-deductible health plans and those that are underinsured / uninsured. I have been personally using the LifeInCheck™ RX Drug Plan on our family’s medicines recently: antibiotics, asthma treatments, pain killers, etc. One of the coolest features of this plan is that 175+ prescriptions are offered at no cost to members! These include some of the most common prescriptions for high blood pressure, antibiotics, mental health and more.
There are actually two subscription options: $14.95/month for all household members OR $149.95/year for all household members. This plan is an easy way for my family to save money on the medicines that we use. Just last week, Sophia had an ear infection and we were able to get her antibiotics at NO COST to us thanks to the LifeInCheck™ plan. How’s that for a good deal?! Did you know that the average LifeInCheck™ member saves an average of $64 per prescription (this more than covers the subscription cost)? This plan is definitely worth checking out!
Saving money on our prescription drugs gives my family more “fun money” to spend on leisure and entertainment. For example, we took an extended weekend vacation last month by using money we had saved up from reducing our medical bills. By using the LifeInCheck™ Prescription Drug Plan, we save around $130 per month! Oh, and it’s so easy to use – simply print out the card from the website. I keep a copy in my wallet at all times.
If you’d rather not carry a paper copy, you can always present your membership digitally right on your smartphone.
Did you know that LifeInCheck™ makes it possible to save an average of 85-90% on generic drugs and 14-15% on name brand drugs? Those are some impressive stats. Plus, there’s even a feature on their site that allows you to search your drug and see if there are any less expensive alternatives. You can then take this list to your doctor and ask if you could use something more affordable instead. It’s all about giving the consumer the power to make choices that benefit one’s health & one’s wallet!
The LifeInCheck™ prescription drug plan is accepted at over 54,000 pharmacies throughout the country. On their site, you can compare prices of your drug at local pharmacies to find the best price.
The LifeInCheck™ prescription drug plan is an Association Membership Benefit available to members of the Association. Members agree to enroll in the American Advantage Association at the time they enroll in the program.
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3. Take advantage of a health savings plan!
Many Americans have a high-deductible health plan and would benefit from signing up for a health savings account for medical expenses throughout the year. The money that is used to build up the account is tax-deductible and the account generally grows tax-free. The money withdrawn from the account is also tax-free as long as it’s used for a qualified medical expense. By using a health savings account, you can save money on healthcare expenses, including prescriptions, in-office co-pays and eyeglasses. The only caveat with these types of accounts is that you must use it or lose it. In other words, any funds in your health savings account that are not used by the end of the year can’t typically be transferred over to the next year.
4. Use in-network medical providers!
Many insurance plans have preferred providers, which are also known as in-network providers. By choosing an in-network provider, you may save a significant amount of money for a standard medical exam/procedure. In some cases, an in-network provider will be fully covered (minus the copay), whereas an out-of-network provider could run hundreds of dollars. The best piece of advice is to always check with your particular insurance plan and make sure that any service or exam is covered under in-network coverage.
5. Check your bills & statements!
Most insurance companies mail statements known as Explanation of Benefits (EOBs) to members after services are procured. I always make it a habit to inspect these statements carefully, since I have found errors many times. Sometimes the insurance billed a claim incorrectly and sometimes the provider mistakenly put the wrong code into the system. Just as important, inspect any bills received directly from your provider. In some cases, I have found that that provider didn’t in fact bill my insurance because my insurance ID number was off by one digit accidentally. By calling the billing office and having them bill my insurance company after the fact, I reduced the bill from $149 to $30. It’s always worth checking!
6. Pick the right facilities.
Even if you are only using in-network service providers, there are still differences in the type of facility used. For example, an urgent care facility is often much cheaper than a visit to the ER. Depending on the injury or illness, going to an urgent care facility might be a good move. Also, if you need radiology imaging done, keep in mind that scans are often much cheaper at a walk-in radiology clinic as opposed to the local hospital. Some clinics also offer payment plans for patients who need to spread out payments over a certain period of time.
7. Get preventative care.
When it comes to health care, it’s always more cost-effective to tackle medical issues preventatively rather than after they have become full-blown health issues. Insurance companies know this – that’s why many plans offer a free yearly physical to members. Don’t skip out on this free office visit. It’s not only good for your health, it’s also good for your wallet!
Be sure to check out the LifeInCheck™ prescription drug plan to keep your LifeInCheck™! What is your best tip to keep medical expenses under control?
LifeInCheck™ is brought to you by Inmar, a data and technology analytics company. Over the past 15 years, Inmar has created relationships with brands and retailers to provide consumers with the lowest price on prescribed medications. The LifeInCheck™ plan is not A Medicare Prescription Drug Plan or insurance.