As 2013 approaches, a health care strategy that cobbles together alternatives within our system that will provide you with the kind of medical care you desire at a cost that you can support will require more hands on effort but can add up to big bucks saved in the long run.
First, understand your insurance. From deductible to co-payment to co-insurance to premiums, your out-of-pocket costs should never be a wildcard. Call your insurance company when possible and in the event of emergency, call your insurance company or have someone else call (make sure you’ve got a health care proxy, power of attorney with a trusted person who knows your insurance policy numbers, et cetera) your insurance company as soon after the occurrence of an emergency medical event as possible.
Second, look around at alternative health insurance plans rather than automatically renewing the plan you have. Changes in your health as well as changes in insurance products may make this year’s choice less appropriate for you from year-to-year.
Third, understand what care you’re looking for. In addition to using in-network providers, which can still cost you hundreds or thousands of dollars for a specific complaint once the extensive testing and laboratory work as well as other services are billed, you should explore different types of in-network providers, including urgent care centers and even retail health clinics which also participate in your insurance plan. Urgent care centers and retail clinics are much more likely to address your specific health reason for visiting rather than “testing” you for everything.
Fourth, consider whether your pharmaceutical coverage for medications you receive prescriptions for will require less money paid in terms of cash outlay if you use a retailer’s drug price or coupon promotion. Sometimes with coupons or by asking around you can save significant money on the amount you spend for prescriptions.
Fifth, save receipts for everything you expend in cash from co-payments, to premiums, to prescriptions for vitamins or air filters for your home to support clean air so that you can use them to determine whether you’re eligible for the medical expense deduction at the end of the year (currently amounts exceeding 7.5 percent of your adjusted gross income are deductible, after fiscal cliff, amounts exceeding 10 percent of your adjusted gross income). The key to medical deductions is that the prescription for an item or service must come from a healthcare provider.
Sixth, stay up-to-date on changes to laws at your state level. Determine whether changes in laws make you eligible for less expensive health insurance or render you eligible for tax credits under Affordable Care. Since the Supreme Court struck down expanded eligibility for individuals who might be eligible for Medicaid as a requirement for states to implement, look for your state’s actions regarding the expansion of Medicaid coverage.
Seventh, if you don’t have a certain type of insurance, for instance dental, consider purchasing dental insurance.
Eighth, look for health fairs that are frequently put on in many localities where you can obtain free screenings for specific things such as blood pressure or cholesterol.
Ninth, explore billing surprises. While you may not be able to change a specific charge, you’ll better understand how a particular bill was covered or not covered by your insurance.
Tenth, keep track of all your providers, from where you keep your prescriptions to which healthcare service providers you’ve used. You’ll be better able to avoid duplicate testing as well as promoting continuity of care by keeping track of who you’ve seen for what.
Going into 2013, remember, health insurance is NOT health care. If you need medical care, NO insurance company can deny you CARE they can only deny paying for that care. Shop around, find out what your alternatives are and make your best HEALTH decision.
