Some of the links in this post are affiliate links. This means if you click on the link and purchase the item, I will receive an affiliate commission at no extra cost to you. All opinions remain my own.
Due to the extremely high cost of health insurance in the US, the number of uninsured Americans is continuing to increase. Healthcare isn’t readily accessible without insurance, and where it is available to those without insurance, it can be outrageously expensive. It’s safe to say that taking better care of ourselves and saving money is a priority for most. Here are a few simple ways to improve your overall health while keeping your bank account (mostly) intact.
Buy Medications in Bulk
If possible, purchase medications in bulk. With even the price of generic medications increasing, it’s important to stock up on medication whenever possible. Depending on your prescription, you might be able to buy in larger quantities at a lower cost. Ask your treating physician to prescribe medication in higher quantities. Keep in mind that the ability to do this will depend on the type of medication. Narcotics, for instance, are usually not prescribed in 90-day intervals.
Sign Up for an FSA or HSA
Making use of FSAs and HSAs is also an effective way to prepare for unexpected medical expenses. HSAs are usually linked to insurance plans with high deductibles. Money saved in HSAs can be used toward medical expenses; however, you must be actively enrolled under a plan that has a high deductible to use an HSA. FSAs work differently. Also referred to as flexible spending arrangements, they can be used with any type of health insurance and don’t need to be linked to plans with a high deductible. Both types of savings accounts offer tax benefits; however, the funds deposited in an FSA do not roll over into the next year.
Don’t Let Health Issues Escalate
The best way to save money on healthcare is with prompt treatment. Far too often, patients let minor ailments go untreated. For example, a simple urinary tract infection can quickly progress to a kidney infection if it’s not resolved with medical care. A nagging cough that you think is just a cold can become pneumonia overnight. If you’re uninsured and scared of the cost of a routine visit, a fee-for-care concierge service could serve as an alternative to insurance and still allow you to get the care you need.
In a world where finding the balance between paying high insurance premiums and having proper insurance coverage seems harder than ever, the key is knowing what to do to save. There are a lot of ways to receive medical care without going into debt. From getting free annual health screenings to starting a medical savings account, living a healthier life on a tight budget is possible.
Get more tips here: 4 Important Habits to Teach Kids Early in Life
Totally agree! Prompt treatment and a proactive approach can avoid so much cost and poorer health. Great tips!
Signing up for an FSA or HSA is something I haven’t done, but want to. Using the money toward medical expenses would be a great help.
Great tips. I don’t take medicines useless I’m very very ill.