How to Manage Your Healthcare Costs In A Better Way?
Healthcare costs are rising and a single day of hospitalisation can cost you a fortune. But medical expenses are unavoidable. It is good to prepare yourself financially for any health-related concerns that may hamper your savings and future plans. From paying for the doctor’s visit to hospitalisation expenses, the amount you spend on health care may seem endless. However, with a little smart work, you can manage your healthcare costs in a much better way and have a little more money for yourself.
Invest in the right health insurance plan: One of the best ways to not spend your savings on medical expenses is to invest in a medical insurance policy providing a high sum assured. Make sure you consider your and your family’s health needs when purchasing your health insurance policy. If you already have any pre-existing health conditions, do keep the future expenses in mind. While you may have a group insurance plan provided by your employer, it’s good to have an individual health insurance plan that is tailored to fulfil your needs and requirements.
Choose a network hospital: Another simple way to reduce healthcare costs is to seek treatment in a hospital listed in the insurer’s network. By opting to seek treatment in a network hospital, not only can you avail cashless treatment, but you also get medical care at a discounted price. Network hospitals have a contract with the insurance company to provide medical care at lower rates. Moreover, you just have to provide your insurance policy, and the hospital administration staff will get in touch with your insurer. Choosing a network hospital will help you get the maximum benefit out of your policy. You also have the option to seek treatment in an out-of-network hospital, but it can comparatively cost you more, and you have to file a reimbursement claim.
Save money on medicines: Healthcare costs may also be reduced by saving money on medicines. Always request your doctor to recommend you generic drugs. What may seem like a very small saving can, in the long run, help you save a lot of money. Instead of paying extra money on brand-name medicines, opt for generic drugs. If you require long-term medical care, generic alternatives can significantly reduce your medical bills.
Use free health screenings: Your health insurance policy also enables you to get free health screenings. Utilising the free screening tests instead of shelling out money out of your pockets, is one of the best ways to reduce healthcare costs. Routine health screenings are one such benefit that will help you keep a tab on your health and at the same time, save money. SBI General allows a free medical check-up for every four consecutive claim-free years.
Final note: Now that you know how to reduce healthcare costs, ensure you follow the tips mentioned above. The best way to save money on healthcare costs is to stay healthy. Adopt healthy eating habits, exercise regularly, and kick habits like smoking, drinking and eating unhealthy food, that can have ill-effects on your health. Follow these practices to keep yourself away from the doctor!
Disclaimer: The above information is indicative in nature. For more details on the risk factor, terms and conditions, please refer to the Sales Brochure and Policy Wordings carefully before concluding a sale.