J.P. Farley News and Blog

More Tips for Stretching Your Healthcare Dollars

As we noted in our previous post, studies have shown that people who participate in consumer-directed healthcare programs such as Heath Savings Accounts and Flexible Spending Accounts are more likely to be proactive about managing their health care expenses. There are many things consumers can do to reduce their health care costs without jeopardizing the effectiveness of the healthcare they receive. Today we continue our list of money-saving tips for participants in consumer-directed healthcare programs.

• Before undergoing an expensive medical procedure or surgery, take a look at your health plan document or talk to your third-party administrator or insurance carrier to find out if the procedure will be covered (or applied to your deductible) and how much of the expense will be covered. Sometimes maximum coverage limits, out-of-pocket expenses or coinsurance amounts apply to certain procedures. A coverage and participants may be responsible for these amounts. Always investigate and compare costs before scheduling any healthcare procedure as costs can vary greatly from one provider or facility to another.
• When you see a doctor, be frank about your desire to be careful about your healthcare expenses. Ask your doctor to prescribe generic drugs and ask if he has any samples. Discuss the need for proposed medical tests. Ask your physician to explain why a test is necessary and how effective it will be in determining a diagnosis. The litigious nature of our society sometimes encourages physicians to recommend tests that may offer limited practical benefit or may be able to be delayed. As the patient, you have the right to refuse or delay tests if you are not convinced they are necessary and ask your doctor for possible testing alternatives.
• To make sure tests and procedures are covered by your insurance plan or credited to your deductible, always follow pre-approval or pre-certification instructions and file appropriate paperwork. Your physician’s office will usually assist in the pre-certification process, but it is important that you understand your health plan’s instructions.
• Scrutinize all healthcare bills to verify their accuracy and promptly contact the provider should you discover a billing error. Providers bill many different health plans and insurance companies and each of those plans are unique. Because of these vast differences sometimes they misunderstand your health plan’s coverages and therefore billing errors may occur. Periodically review your plan benefits and discuss them with a health plan representative if you have questions about your provider’s bill.