7 Ways to Save on Medical BillsJune 5, 2018
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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.
Click the following badge to get started today!
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.
We have awesome health insurance, so we rarely have medical bills, but I realize not everyone is as lucky as we are. These are great ways to save!
Medical costs can really get out of hand, especially prescription drugs. I’ll be looking into this!
We totally agree! Try a 30 day trial with LifeInCheck totally free and find out how you can save. Our members get an average of $64 in savings per prescription.
I know people are always looking for ways to cut cost when it comes to medication. All of these are wonderful ideas for people to try to save money.
Thanks, Candy! Hope they help you.
I’ll keep these tips in mind for sure. I do always want to save on medical bills, because they can get expensive fast!
So true! We started LifeInCheck for this very reason- the costs were just out of hand. Try a 30 day trial with LifeInCheck totally free and find out how you can save!
Great tips you have here. I would add eating healthy and staying active. It seems to keep us pretty healthy!
I definitely need to check out that website. There is a lot of people in my life that have different medications that are extremely expensive in something like this would definitely save money.
Yes, this is a smart way to save some money at the pharmacy!
I have health insurance which we are lucky to get so for now we are OK. I will remember these tips for any future changes as the can happen.
I really enjoyed reading this post. These are some really helpful tips. Medical bills can be really pricy.
Thank you for affirming that generic meds are as safe and potent as the branded ones.
Some of these are really good tips. I have a lot of medical bills that I will be paying on for years to come. It’s pretty sad how expensive it all is.
Health Insurance are getting expensive nowadays. Employer can’t help that much unless you work in a state . That is why its always a good idea to save up money in case of emergency. And of course keep a healthy lifestyle.
Yes, keeping an emergency fund is key! Yes, and a healthy lifestyle is always a good idea! Thanks for stopping by, Farrah!
These are all great tips. I’m going to have to look into LifeInCheck™ Prescription Drug Plan for my family, as it looks like a win win.
These are really great tips! I did not know about the discount card, I will have to look into it. My son has asthma which can get pricey with the medication and my husband takes a medicine each month. So finding ways to cut costs would be great!
Yes, the treatment for asthma can be costly for sure! Hope this helps you!
I am so guilty of not going to the Dr for long periods of time. It’s something we can’t avoid as we get older – so yes, preventative is best!
I am always looking for great ways to save. I think it is important to know where your money goes!
We couldn’t agree more. Our goal at LifeInCheck is to help you save money on health costs so you can spend it on the things you love in life. You can try a 30 day free trial at lifeincheck.com!
These are very helpful tips and of course, having an emergency or back-up plan is always a key decision to keep an maintain. Thanks for sharing these tips!
I have never heard of life in check … I did however seen similar stuff and they work like a charm. It is always great to have options. Will definitely check this out.
We are setting ourselves apart from others on the market with even bigger savings. Try our 30 day free trial today and find out how you can save! Our members save an average of $64 per prescription.
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