Having health insurance helps protect your family from medical problems, and can also help you avoid huge medical bills. Unfortunately, an estimated 47 million Americans are uninsured. A major contributor to this statistic is the high cost of health insurance premiums. The good news is that there are a few things you can do to reduce your health insurance premiums and associated healthcare expenses.
Go for generic drugs whenever possible
Some drugs are available in generic form at less than half the cost of the name brand version. On top of this, many major retailers (e.g., Wal-Mart, Costco, Target, and Walgreens) offer $4 prescriptions, and some even offer free antibiotics.
Try health clinics
I’ve found this to be a great option for some of my exams, and it can also help save on prescriptions. With my previous health insurance, my co-pay was $30/month for one of my prescriptions. By going to the university health clinic, I pay $40 for three month supply. I save $240/year just by doing that. Check with your local health department to see if there are any such clinics in your area.
Look into private health insurance
Employers don’t always offer the best deal on health insurance. Shop around online using an online tool to help you compare health insurance companies and see if there a policy that is more affordable for you. You may also qualify for some state run health insurance programs, which can likewise reduce the costs.
So there you have it… Four tips for saving money on health insurance and medical care. While many people are trying to cut costs and save money, that doesn’t have to involve sacrificing the quality of your healthcare. Do you have any additional tips for reducing your health insurance premiums or otherwise saving money on healthcare?