Four Tips To Save Money On Healthcare

Healthcare isn’t a luxury — it’s a necessity. But you shouldn't pay an arm and a leg for it. Here are 4 ways to help you save money on your healthcare bills.

1. Practice healthy living. One of the easiest ways to lower your medical expenses over the long term is to establish and maintain a healthy lifestyle.
• Exercise regularly and maintain a healthy weight
• Quit smoking — and kick those other unhealthy habits
• Take advantage of preventive care, like regular checkups and the wellness programs your health plan offers
2. Cut the cost of your prescriptions. If possible, get your doctor to prescribe you generic drugs. They're just as effective as the brand-name drugs you see on TV — the makers just don't spend a fortune on advertising. If you're taking advantage of Medicare's prescription drug program, make sure the generic versions of the drugs you need are covered by the plan.
3. Keep track of your medical expenses. When tax time rolls around, you can deduct a variety of your medical expenses if you file an itemized return. Eligible medical expenses include an assortment of medical aids (such as hearing aids, contacts, and eyeglasses), regular healthcare services, and sometimes even your insurance premiums. Keep careful records of such purchases to deduct them.
4. Contribute to a health savings account. If you're enrolled in a high deductible health plan, you can set up a health savings account. If your employer has set up a fringe benefits program, you'll be able to deposit money into the account before taxes are taken out — so it's like getting a larger paycheck. If your employer doesn't have a fringe benefits program, you can get reimbursed for your deposits at tax time.

You can use the money in your health savings account to pay for everything from cold medicine to your health plan's deductible. It's a great way to save on your out-of-pocket healthcare costs.

One More Trick You Can Use To Save

There's one more trick that you can use to save on healthcare: shop around when you buy insurance.

By comparing plans from multiple agents, you can see which insurance company offers the best coverage at the best price. You might be surprised at how similar plans can have very different price tags.

You can get free health insurance quotes from multiple agents by filling out our simple form. It only takes minutes to complete, and you'll be matched with up to 5 agents licensed in your area. It's fast and easy — and it will help you save.