Too many Americans avoid getting the care they need. This is because it doesn’t fit their budget. Online options such as a free durable power of attorney form can be a great help. Here are just a few other routes that can help keep you safe through any medical crisis.
Assess Your Healthcare Requirements
You might already have an idea of your long-term health needs. Consider your age and how this can affect the care you’ll need. Do you have any health conditions that could soon get worse, for example? It’s best to plan for the worst-case scenario with healthcare. Otherwise, a medical emergency might blindside you.
You should also look into preventative care options. It’s possible to get these for free on most health plans. A simple checkup today could save you from a mountain of hospital bills just a few years from now. Improving your overall health could similarly make a difference. Even 30 minutes a day helps more than you might expect.
Checking Your Insurance Plan
Make sure you’re familiar with your current health insurance plan. If you have certain needs coming up (such as surgery), work out how much you’ll have to pay. Not every plan offers equal coverage to emergency care. This could be a dealbreaker if you have a chronic condition. You might have a major flare-up at any moment.
Medical plans are always changing their rates. You should keep an eye out for lower prices at all times, especially lower deductibles. In-network providers (i.e., those on the same network as your doctor) are typically cheaper.
26 million Americans don’t have health insurance. Many of these people can afford it but worry it might be a waste of money. If you take this route, an emergency could leave you bankrupt. It’s a risky expense for sure. But this investment could save your life and protect your finances.
Why You Should Consider Applying for Medicaid
If you don’t have health insurance, you might be eligible for government plans such as Medicaid and Medicare. Each state has unique income requirements to account for differences in average income. For example, your annual salary must be below $20,030 in New York. Anyone part of a low-income family or on an SSI is also eligible for Medicaid.
Look into your state’s specific criteria and see if you fit the bill. You should then apply as soon as possible. There are even sub-programs for children or pregnant people. This eases the burden of medical costs when you’re trying to raise a family. Check every related program and apply for everything you’re eligible for.
You can even backdate your Medicaid coverage for up to three months. If you’re late applying or it just doesn’t process in time, this can be a huge relief. It also covers preventative care, just like regular health insurance. These checkups and screenings are sure to give you peace of mind if you’re worried about your health.
Getting Cost-Effective Prescriptions
The FDA estimates that generic drugs cost 80-85% less than their name-brand versions. This is what allows millions of Americans to get their medication without skipping meals or other critical expenses. Not every drug has a generic version, but enough do, and it’s worth checking. Talk to your doctor about this and ask for the cheapest meds that could help you.
Your insurance plan can again be a factor in this. Each one has a formulary that may include the drug you need. Check these lists every time you get a new medication to take. Mail-order meds are also at least somewhat cheaper. There are even companies such as GoodRx or SingleCare that give out coupons for medication.
Negotiating Healthcare Prices
It’s no secret that America’s healthcare system is a business unto itself. This means you’re a customer with the right to negotiate prices. Talk to the doctor or the hospital’s billing department to explain your situation. They might actually give you a lower price.
It’s better to negotiate before you begin the treatment. This means the doctor can then choose a cheaper (but still effective) solution, such as a generic drug. However, this isn’t always possible. You may be getting emergency care after an accident, for example.
Many hospitals can still set up a more accessible payment plan, even if they can’t lower the fee itself. This could be weekly or monthly — and preferably with as little interest as possible. There are even charity programs in some hospitals that subsidize care costs if you fit their criteria.
Final Thoughts
You have plenty of healthcare options even when you’re on a budget. But this doesn’t mean you shouldn’t save where you can. Unfortunately, hospital and doctor visits can still cost you a lot of money. But following these steps can give you some peace of mind about your situation.