Lower your healthcare costs with these tips.
It’s no secret that healthcare costs have skyrocketed in recent years. Between rising insurance premiums and a lack of pricing regulation for everything from lab work to prescriptions, medical costs have soared. Fortunately, there are some ways to cut medical costs before they send you into debt.
Click through to learn how these healthcare hacks can save you thousands in medical expenses.
1. Use Generics
If your doctor prescribes you a brand-name drug, ask whether it would be okay to use a generic substitute. Generics can be significantly less expensive, and often there’s no difference in the product itself.
2. Stick With In-Network Providers
Your insurer has deals with certain providers that will give you the best price and guarantee that the treatment will be covered. Going out of your network almost always means that you’ll have to pay higher prices. Out-of-network providers charged patients on average 300% more than the Medicare rate for many procedures, according to an analysis by America’s Health Insurance Plans, a trade association representing the insurance industry.
3. Opt To Pay With a Personal Loan
You don’t want to not pay your medical bills or even pay them late. And you also don’t want to rack up high-interest credit card debt by using a card to pay for your medical needs. If you think those are your only options, think again, because a personal loan could be a smarter move if you can secure a reasonable interest rate.
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