A Wellness Plan for Health Care Costs

Whether you’re covered by a company health care plan or paying for a personal plan or Medicare, health care costs are rising—in premiums, co-pays, deductibles and other out-of-pocket costs. It’s hard to control those costs since they are established by the insurance and medical industries, but there are some things you can do to curb the rising costs of health care that have little to do with your wallet:

1. Shop for rates.
   Whether you’re looking for a plan, choosing a provider or considering a suggested treatment, gather all the information you can find. Different health care plans come with different benefits and costs (from premiums to deductibles to co-pays). Costs of different procedures or medications can vary greatly from one provider to another. Without skimping on necessary coverage or services, shop around for the right plan, the right service and the right price. Be sure to ask for any available discounts; if you’re paying out-of-pocket, always ask for the insurer’s discount.
2. Understand your coverage.
   Your health care policy may come to you as a big, intimidating document—but it’s essential that you know the details of your coverage. Non-preferred or out-of-network providers can cost a lot more. Certain procedures may not be covered at all. Slight changes in when you have a procedure can impact what you pay. Know what your plan covers, and when and where—and don’t be afraid to call providers or insurers with specific questions, either about hypothetical situations or about specific items on your bill.
3. Go generic.
   Even a comprehensive plan with manageable expenses can leave many prescription costs largely uncovered. More than 50% of all drugs have a generic alternative—and in most cases they are no different than their brand name counterparts. So when you get a prescription, ask your doctor if a generic is available.
   
4. Schedule regular visits.
   Preventive costs are generally well below the costs of treating a serious condition. Wellness visits provide an opportunity to discuss any concerns, have any necessary tests or screen for any issues. On the other side, avoid costly but unnecessary visits such as going to an emergency room for a non-urgent cause when a much less expensive trip to your regular provider the next day will do.
5. Maintain a healthy lifestyle.
   Preventable diseases account for a large portion of personal and employer health care costs. Maintaining a healthy lifestyle can help you improve your health and improve your bottom line. Eat balanced and nutritious foods, exercise regularly, maintain a healthy weight and quit smoking. It will help your health, and your financial bottom line.
6. Plan ahead.
   Health care costs are continuing to rise at a pace far greater than inflation. Everyday steps like these can help you reduce health care costs at every stage in your life. I can help make sure you factor reasonable health care estimates into your retirement plan.