5 Ways to Save Money on Medical Costs

If you or a family member is unwell or experiences health issues, the cost of doctor’s appointments, drugs, and other medical expenses can pile up rapidly. Even though it can seem unattainable, there are strategies to stretch your money and save on medical costs expenses. Here are some suggestions for reducing medical expenses on a budget:

1. Negotiate with doctors/hospitals.

Medical Costs Most individuals are unaware that you can bargain with your doctor or hospital about the medical costs of your care. In fact, a survey found that 75% of clients who haggled with a physician, dentist, or hospital were able to reduce their bills. In my own experience, I once went to the doctor while I was ill and without insurance. In addition to not charging me for the appointment, he provided me with enough free medication that I didn’t need to fill a prescription.

2. Ask for free samples.

Ask for a free sample of any new drug your doctor has prescribed before you buy it. This lets you save money and gives you a chance to try the medicine before buying it. Before spending money on anything, you can test it out to see if it helps or if you are allergic to it. (When I went to get my allergy shots, I usually requested complimentary samples of allergy medications.)

3. Compare medication costs with and without insurance.

Unexpectedly, certain prescriptions cost less without insurance. You may be required to pay a minimum co-pay by some insurance providers or mail-order pharmacies, which may be more expensive than the medication would be without insurance. Always compare the two costs before buying a drug.

4. Buy generic.

Generic drugs sometimes cost less than a third of what brand-name drugs do. A generic medicine is required by law to have the same components as a brand-name drug. So, when your doctor prescribes a medication, ask for the generic version.

Check the labels before buying an OTC drug to be sure the generic version has the same dose and name listed under “active components.” This money-saving advice is only not applicable if you have a coupon for a name-brand drug on sale. The medical costs might be less than the generic in that situation. To find available coupons, go to websites for well-known brands.

5. Exercise, eat healthily, and get sleep.

Being healthy is the best defense against disease and prescription drugs. Regular exercise is good for your health in many ways, like lowering your blood pressure, cholesterol levels, and stress levels. It also helps you keep a healthy weight, gives you more energy, and makes you more flexible. Another strategy to boost your health and keep from getting sick is to eat wholesome foods and get adequate sleep. You won’t spend any money on going for a walk or getting to bed early, but doing so could prevent you from having to pay for (and deal with) poor health.