With the new year just around the corner, many businesses and individuals take this time to reevaluate their healthcare plans.
Because healthcare is a critical part of your budget, PCS Debt Relief wants you to start thinking about implementing some of the following strategies to lower your medical costs:
Reevaluate Your Plan
Take time to shop around for a new healthcare plan or determine if your current one is sufficient for your financial goals. If your employer offers health insurance, take advantage of it if it’s for the right price. You can also compare the price of your work’s healthcare insurance plan with other policies.
Look back on your own health and medical history as well as your family’s. If you suspect that you or a family member will be in and out of medical appointments over the next year, you should get a plan with a higher premium (monthly payments for the healthcare policy) and lower out-of-pocket fees. If you don’t feel you’ll need much medical attention next year, go with a policy that has a higher deductible (out-of-pocket fees you pay before your policy goes into effect) and lower premium cost.
Look for Errors
We’re all human and so are the people who work in medical billing. It’s possible that your healthcare provider accidentally charged you for the wrong treatment, sent the bill twice, and so forth. If you think there was a mistake, visit your medical center’s billing department right away to get it sorted out.
Company Wellness Program
Many businesses will offer their employees discounts on their health insurance plan premiums by participating in one or more various health-related activities. These activities may involve holding a gym membership or undergoing a health screening or health risk assessment. If your workplace does offer a wellness program, do the math to figure out if you’ll save more by staying with your company’s health insurance plan and wellness program, or by finding a different policy.
Make Smarter Health Choices
Did you know that in 2017, Americans spent a reported $3.5 trillion in medical expenses? The U.S. Centers for Medicare and Medicaid Services (CMS) predict that that dollar amount will increase to $5.7 trillion by 2026.
One of the most effective ways you can reduce the amount of co-pays and out-of-pocket costs you’re paying at each medical appointment is by making healthier habits that won’t result in medical problems. Of course, you can’t always control what happens to you but you can take measures to lessen the chance of developing a chronic illness. Eat a balanced diet, exercise, drink less, quit smoking, and focus on your mental well-being.
Do you need help restructuring your budget and developing a custom financial plan? PCS Debt Relief is here to assist you. We help consumers and businesses nationwide achieve their financial goals and become debt free. We are here to listen to your concerns and find a solution that is realistic for you. Visit our website or call us today at (636) 209-4481.
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