5 Financial Keys to Manoeuvring Your Way Around Hefty Medical and Dental Bills in 2021
The cost of medical treatments and procedures is ever increasing. It is observed that medical costs have increased 31 times in the last 40 years. This has resulted in the expenses growing from $353 per person in 1970 to a whopping $11,582 in 2019.
With such outstanding growth in the medical bills, people around the country are having a hard time keeping up. On average, there is a 15% increase in medical expenses every year, which can go up quickly.
Saving money on medical bills is possible. Several people have found some effective ways in which they can bring down their medical expenses. Not everywhere can you find a clinic like the Wisconsin Dental Association, where they offer affordable treatment to their patients. Are you interested in knowing the different ways you can bring down your medical and dental costs? Read on, as this blog will give you all the information you need.
The Top Five Things to Keep in Mind
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1. Invest in Better Insurance –
A lot of people make the mistake of investing their money in cheap health insurance. Putting your hard-earned money in cheap health insurance will do you no good. These do not cover the tests & procedures that you might have to undergo. Usually, medical tests can add thousands to your bills. Also, you get restricted to a small in-network provider. So it will be difficult to find a good hospital that will accept your health insurance.
On the other hand, if the amount of money you spend on health insurance increases, then you are entitled to much better benefits. Good and popular insurances are widely accepted. These insurance policies also help to cover the charges incurred in your tests and other kinds of procedures. All of that can bring down the overall cost generously, and you’ll save a lot.
2. Get Generic Drugs –
Big brands charge more for their medicines and other products. If you see it in the longer term, it can add up to the costs significantly. Now, it is time to ask the doctor to suggest generic drugs. These drugs are FDA-approved and absolutely safe to use regularly. There is no harm in consuming these drugs from a medical point of view.
A study showed that patients who opted for generic drugs could bring down their medical expenses by at least 20% annually. So, what’s the point of paying more if the medicine delivers the same result to you every time? Start using generic drugs to save money on your bills.
3. Buy Medications in Bulk –
A great way to save money is by buying medicines in bulk. If you are on medicines regularly, then why don’t you buy them together in one go? For instance, if the doctor has prescribed you to use a particular medicine for the next three months, then get all the supplies in bulk.
Medicine suppliers are more than happy to give you a hefty discount on the price when you buy in bulk. Instead of buying the medicines every week, get the whole thing at one go to reduce the cost. This will also help you save a lot of time.
4. Research Clinics Online –
Some clinics charge a lot more than others. This can be due to various reasons. Thus, it is always a good idea to research clinics online before you visit them. You can find every other detail regarding the medical and dental clinic from your local search engine. Check out the prices for the tests and other medical procedures they offer.
Compare the prices side-by-side and then decide which clinic is more affordable. You can even contact them to know if they offer any discount on their bills. There are many clinics that offer free tests to the patients who are willing to get themselves treated there.
5. Patient Assistance Program –
In many states, people can enjoy benefits from the PAP or Patient Assistance Programs. When they fail to keep up with the costs of their ever-increasing medical bills, PAP helps them by paying out a part of the overall expenses. These are sponsored by the various non-profit organizations, big brands, or at times receive support from the state.
To be eligible for getting the Patient Assistance Program help, you will need to show your financial statement. It should be clear that your income does not let you pay all the upcoming expenses.
6. Don’t Forget To Review Your Bills –
It is absolutely necessary to review your medical bills before you pay out the total. There are many instances where hospitals have added extra charges on the total. There can also be an error in the total calculation of the bill.
A single coding error can make your $10 expense a $1000 liability. So, you must never pay the total amount without reviewing the final bill. Contact the authorities if you find some major error in the total. Ask them to review the same and provide you the right numbers.
7. Negotiate The Insurance Cover –
If you are good at negotiating, then why don’t you try to increase the insurance cover? Let your agent know that you have a huge amount of money for your medical issues. Check how they can assist you by reviewing your cover.
Big and reputed companies have the power to increase the overall insurance cover. So, try your best to convince them to increase the cover, which will help you by huge margins. Do you have an excellent bond with the agent? Then it won’t be too difficult to convince them to increase the amount of cover you are entitled to.
The Bottom Line
These are the best ways in which you can maneuver your way around increasing dental and medical expenses in 2021. All of these steps are really effective and can work wonders when we are talking about reducing costs.
Visit Florida Dental Association (FDA) to get the best and the most affordable rates for your treatment. Visit their website and find out more details regarding their services and costs.