Many Americans, given the skyrocketing cost of health insurance, are now seeing higher deductibles and more out-of-pocket expenses. It is because of this that we all must do what we can to save on our health insurance.
The following tips can guide you when looking for practical ways to save on your health insurance expenses:
- Read and re-read your health insurance’s policies regarding pre-approvals. Many times, individuals do not go through the proper channels and seek pre-approvals from their insurance companies, only to find out that a very expensive procedure or treatment is not covered under their health insurance policy. Although not all health insurance policies include pre-approvals, those that do typically include very specific language on getting preapprovals for procedures ahead of time.
- Carefully read any and all correspondence that comes from your health insurance company. This includes bills, explanation of benefits and itemized deductions for hospital stays and doctor’s visits. It is not uncommon to find mistakes when it comes to billing, so you may very well find mistakes that otherwise could have cost you big. If you don’t understand something, immediately contact your health insurer and ask for an explanation or clarification.
- Carefully read your Explanation of Benefits from your health insurance company and compare them with your statements. Pay close attention to the amount that your insurance company pays and the amount for which you are responsible. More importantly, if your health insurance has been denied, ask for an explanation from your health insurance company. Many times, individuals simply pay their health insurance bills without asking questions. These oversights can end up costing you hundreds – perhaps thousands – of dollars in out-of-pocket expenses!
- Don’t be afraid to ask for discounts on your doctor’s visits and prescription medications. Many times, your doctor may offer you discounts on services, particularly if you have high deductibles. If your doctor prescribes a medication, ask for any free samples, and always ask if the medication your doctor prescribes is available in generic form.
Bookmark and Share
