Healthcare is expensive, but ignoring healthcare is not the answer. That strategy can backfire. You could put your overall health at risk and end up costing yourself more money in the long run. So, what can you do instead? Do your best to manage your healthcare costs. Here are some ways that you can do that if you are worried about the healthcare costs:
Without insurance, your medical bills are going to be higher. If you don’t get coverage through your workplace, you can use a public plan (Medicare, Medicaid), or you can shop for a private plan. Be careful when browsing potential picks — there are junk health insurance plans out there that look great because of their minimal costs but don’t provide much help at all.
At the very least, you can get yourself a health insurance discount card to get discounted rates for healthcare services. It requires a small monthly fee. It’s not as good as insurance coverage, but it’s better than no protection at all.
Prepare for Emergencies
Even if you have insurance, you will still want to have some savings set aside for anything that doesn’t get covered by your current plan. Prepare for this problem by building yourself a basic emergency fund. Move some money into a savings account every single month and leave it alone. You should only pull from it when you have an unexpected expense that your budget can’t cover.
Building an emergency fund takes time and effort. It’s possible that you won’t have enough in your emergency fund when you’re hit with an unexpected medical expense. In that case, you can use your credit or apply for an online loan to help you cover the emergency costs.
If you’re applying for a loan online, make sure to check that it’s accessible in your state. For instance, anyone living in Milwaukee or Madison would want to specifically look for online loans in Wisconsin to help them cover emergency costs. Or else they might be disappointed to find out that their location disqualifies them from the entire application process.
Negotiate Your Medical Bills
What if you can’t avoid going to the hospital and racking up a big medical bill? That’s okay. You can still negotiate medical bills to lower the overall costs and make the payment terms easier for you to manage. Negotiating a bill takes time and effort, but it can be worth the savings.
When you go grocery shopping, and you want to save a little bit of money, you pick up generic products off the shelf instead of the big-name brands. The same strategy works with your prescription medication. When your doctor prescribes you some medicine, ask for them to give you the generic or least-expensive brand.
Take Care of Your Health
While taking good care of yourself can’t help you avoid medical costs entirely, it can reduce your chances of developing major health issues. A clean bill of health will be easier on the wallet. Here are some things that you can do to stay healthy:
- Eat a balanced diet
- Exercise regularly
- Sleep 7-9 hours every night
- Quit smoking cigarettes
- Limit your alcohol intake
- Take your prescribed medication as instructed
- Avoid risky behavior (riding a bicycle without a helmet, driving a car without a seatbelt, etc.)
- Go to your doctor for annual check-ups
Don’t deny yourself proper healthcare because of the cost. As you can see, there are ways to maintain your health and your finances at the same time.