16 WAYS TO SAVE On Out of Pocket Insurance Expenses By Terry Denesha, HIP Advisor

You likely have some control over out-of-pocket expenses. A plan may require you to pay a certain amount in copayment and to meet a deductible before offering coverage. There are several things you can do to reduce your out-of- pocket costs after that point, though. The best thing you can do to reduce your out-of-pocket costs is to take control of your health insurance plan:

ONE Understand your plan benefits to ensure that you get the treatment you need without paying extra for it.

TWO Make sure that the doctor you see is within the network.

THREE Take advantage of Free Preventive Care.

FOUR Get referrals for specialist visits, if your plan requires them. Even if you are required to stay within a particular network, you still have some freedom to choose a provider.

FIVE If you know that you need a particular treatment or service, do some research to find out the details of what is involved in that treatment and find a provider that will offer you the lowest price.

SIX Even after you choose a provider, you still have some options to lower your out-of-pocket costs even more. Speak to your provider (or the billing office) about negotiating the price of your bill. Medical providers offer deep discounts for health insurance companies, so they may do the same for you.

SEVEN See if you can negotiate a discount for paying upfront or for paying in cash. If you can’t cover the total cost of services out-of- pocket at once, ask about setting up a payment plan. Most providers are happy to offer their patients a payment plan if it means they will make regular payments.

EIGHT Consumerism - get the best value. Compare doctor grade with specific cost. Tools like the FH Consumer Cost Lookup and Healthcare Bluebook allow you to look up the average price in your area for certain procedures so you can shop around for the lowest price.

NINE Shop around for the best prescription prices – do not just assume that your local pharmacy has the lowest.

TEN Go for generics when possible, ask your pharmacist what the cash price would be for prescriptions, and compare it to the rate you get with your insurance. Consider Walmart, Target, Walgreens, Sam’s and other discount outlets as well Rx by mail.

ELEVEN Read up on telemedicine. Some carriers have this option within their plans others provide it right out. Over 70% of ER, Urgent Care, and Doctors visits can be handled safely and effectively over the phone.

TWELVE Take control of your health. Ask yourself – am I in shape? Could I be in better shape? Do I follow a healthy diet? What can I do to become healthier? Think about it – the healthier you are the less medical care you will need and the lower your medical bills will be. If you stay healthy, you also spend less time away from work, which is lost money.

THIRTEEN Consider and compare the purchase of a Health Savings Account (HAS) qualified health plan with your current plan. HSA plans are eligible for tax-free contributions and interest earnings are taxfree. Employers and owners of the account are eligible to contribute to the account.

FOURTEEN You may be able to get a payment length up to 18 months with no interest or a term up to 60 months with interest in the form of a Healthcare-specific line of credit.

FIFTEEN Go to dentist and get your teeth cleaned; oral health is a window to your overall health

SIXTEEN Work with your health insurance agent to confirm carrier bills are correct -providers and insurance carriers can make mistakes.

Taking control of your health insurance plan is the best way to reduce your out-of-pocket costs and it starts with choosing the right plan. There are so many different health plans available - select the one that provides the coverage you need at a price you can afford.

Terry Denesha | HIP Insurance Advisor Compliance – Health Reform – Employee Benefits | Cell: Bernard Street, Bakersfield, Ca | Office Fax: | Lic.0F98081 | Terry saves employers and employees money by identifying best valued benefits, allowing employers to focus on managing business and giving employees a piece of mind. Help Business and individuals determine the right kinds of insurance they need, at a price that’s right for them. Provide compliance oversight for government legislation, including ERISA, COBRA, and PPACA. Access human resource assets to optimize business continuity, reviewing EOB’s to ensure correct billing and keeping up with technology-electronic enrollment.