Best Tips to Manage Health Care Costs
When a person reaches 50 years of age, he noticed that the cost actually incurred in health care is beyond he had assumed. According to one research, average health care cost is about $220,000 for a couple aged up to 65 years. Here we have given 10 important ways to secure future by reducing health care expenses.
Don’t take your health coverage for granted
Many employers pay a lesser amount or canceled health care coverage at a time of retirement of an employee. He should sure about what amount he will be paid under retirement saving plan.
Work longer
It is not necessary to work until 65 years. An employee may work more years to cover health benefit. Work after retirement also if possible.
Shop around for your prescriptions
Medicines are an unstoppable expense in retirement. Find for low-cost medicines for your prescription. You may collect it from local pharmacies. Lower price medicines can also be found from online or by mail.
Shop around for other services
For heavy laboratory test and procedure like MRI, look around and shop best. Visit medical office for the Current Procedural Terminology, CPT, code for the test, and search on American Medical Association’s website. It will tell a patient how much Medicare reimburses for it and can also provide estimates of overall costs. Search fair prices for various medical services at www.healthcarebluebook.com.
Look into installment plans
Do not shy to negotiate with a doctor about treatment expense. Talk to a doctor and request him for less- costly treatment or lower fee charge. The doctor may ready pay in installment if there is any hardship in payment.
If you have predictable health care expenses, look into setting up an HSA or FSA
Use Health Saving Account or Flexible Spending Accounts as they are tax- sheltered accounts. It will permit to spend to meet health care expenses.
Consider buying long-term-care health insurance
Long term health care insurance is expensive so that many people avoid it to buy. But actually, its coverage is cheaper and worth.
Take advantage of wellness programs available at your workplace
Many large employers organize wellness program for their employees. Take advantage of this kind of program.
Learn what to expect under Obamacare
Affordable Care Act covers all disease from small to big.
Maximize your health
Be healthy and fit by eating healthful food, doing exercise, regular check up and avoiding bad habits. It will help a person from small diseases. For example, headache, fever, etc.
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