6 ways to save on medical care
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If you feel like life has gotten more expensive lately, you’re not alone. Inflation has impacted everything from gas to groceries and made finding opportunities to save all the more important.
The good news? It’s likely you have benefits that can help you save money on medical care, prescriptions, and health supplies. The even better news? I’m here to help you learn how to take advantage of those benefits.
From tax-advantaged accounts like HSAs and FSAs to saving at the pharmacy, here are six ways your benefits may be able to help you save.
Get the most out of HSAs & FSAs
HSAs and FSAs are pre-tax accounts, meaning money is deposited in your account directly from your paycheck before any taxes are taken out. Whether you have access to an HSA or an FSA depends on the insurance plan you choose, but both allow you to use the deposited funds for qualified medical expenses.
How to use Employee Assistance Programs
Employee Assistance Programs, or EAPs, are offered by some employers. These voluntary, confidential services are often free or discounted. What’s included in your EAP will likely vary, but some common programs include family assistance, mental health support, financial support, and professional development.
Ways to save on prescriptions
Prescription medications are crucial for many people, but rising pharmaceutical costs can be a cause for concern. In addition to your healthcare benefits, there are a few things you can do to make sure you’re saving to your full potential at the pharmacy.
Save with preventive care
Preventive care is the routine care — like screenings, annual appointments, and vaccinations — that can help you avoid health issues, illnesses, and diseases. Not only is most preventive care covered by insurance, but it can also save you time and money in the future by preserving your health in the present.
Level up with in-network providers
Since in-network providers have already negotiated with your insurance company to offer their services at a lower rate, you can likely save a considerable amount by receiving your care in-network. If you need help navigating the world of networks, here are a few tips and tricks that might help you find providers and save money.
Take advantage of telehealth
Telehealth brings your providers to you, so you can have your appointment, get a diagnosis, and even submit prescription orders, all from the comfort of your home. While there are limits to telehealth, it can be ideal for things like mental health counseling, common colds, and prescription management.
ALEX
You know what's better than "Saving Private Ryan"? Saving on health care.