What to Do to Protect Your Pocketbook

Benefit and insurance issues important to you - brought to you by the insurance specialists at: Johnson Benefit Group Inc. Please contact Dave Johnson at 866-656-3232 if you should have any questions.

10 Easy Ways to Stretch Your Health Care Dollars What to do to protect your pocketbook

You’ve no doubt noticed that each When you go to a non-participating sites usually charge less than hospitals year, your health care costs go up. provider you will likely pay a higher or their outpatient surgical centers. This continuing trend can dramatically coinsurance percentage (for example, Freestanding diagnostic centers are impact your budget. While it’s difficult 30 percent out-of-network versus 10 also available and tend to charge less to control all the factors that contribute percent in-network). And, you will likely for certain tests like MRIs, CAT scans, to rising health care costs, stretching X-rays and bone density scans. But your health care dollars is easier than before you go, make sure the facility is you think – below are 10 easy ways to in your plan’s network and that your ensure you get the most bang for your The most cost-effective plan’s benefits cover the service. As buck. always, talk to your doctor to be sure “ way to keep health care this course of action is appropriate for 1. Understand how your health plan you. works. This is the first and probably costs in check is to make most important step. You need to better decisions about the 4. Ask your doctor about home know what is and what is not covered way you live, including testing and monitoring devices. what procedures you need to follow to Home tests for blood pressure, ensure your claims are paid, and the way you eat and diabetes and other conditions can help which providers and facilities to use to exercise. ensure you are following your doctor’s get the most cost-effective care. Know orders and that prescribed treatments the deductibles, copayments and other are working. These tests will usually out-of-pocket costs you are have to pay the difference in price cost less than in-office testing. Check responsible for paying before you use between the participating provider’s” with your doctor to be sure in-home medical products or services or get a discounted fee and the non- testing is appropriate, report your prescription filled. participating provider’s “regular” fee. results regularly and call your doctor if you notice anything unusual. 2. Use in-network providers. 3. Look into freestanding surgical Participating providers (doctors, and diagnostic centers. If you need 5. Only go to the hospital hospitals, and other providers in your surgery, you might save money by emergency room for true plan’s network) generally charge having it performed at an ambulatory emergencies. If you need medical discounted rates for plan members. surgical center (a clinic that is not care when your regular doctor is not associated with a hospital.) These available, think about going to an 7. Use any additional programs or drugs are the fastest rising area of urgent care center rather than a discounts provided by your health care costs and one of the hospital emergency room. This can employer or health plan. Many health biggest reasons behind dramatic often be a tough call, but for a cold or plans provide access to free disease increases in health care costs a minor sprain, avoiding the ER will management programs for chronic nationwide. Here are some ways you probably save you money for two conditions like asthma, diabetes and can reduce your prescription drug reasons: 1) the copayment is usually heart disease. These programs can costs: lower for a doctor visit or an urgent help you stay healthy and manage care visit, and 2) your insurer might your condition, and can possibly save  Use generic drugs whenever make you pay for the full cost of care if you money in the long run. In addition, possible, even for over-the- you use an emergency room for a non- many employers offer complementary counter medications. emergency. Plus, getting care at an programs that are designed to prevent Remember, the most urgent care center will almost certainly illness and lower health costs over the expensive drug doesn’t be faster than at the ER. Call your long run. These programs may include indicate it’s the best. There plan’s health hotline, if available, to get smoking cessation and weight loss are usually generic advice on how, when and where to programs, or discounts on fitness equivalents that are less seek care in a non-emergency clubs or other items that help you live expensive than the drugs you situation. a healthy lifestyle. see advertised on TV. Before your physician writes you a 6. Carefully check all medical bills. 8. Live a healthy lifestyle. Healthy prescription, ask about Insurance companies and hospitals habits like exercising regularly, eating generic equivalents, lower- are not exempt from making billing well and not smoking can increase cost brand name drugs to errors. Insurers often miscalculate the your stamina, lighten your mood and treat the same condition and family deductible, so keep a careful lower your risk for certain diseases. even over-the-counter tally of individual as well as total family Aside from the physical and options. payments to be sure you don’t pay too psychological benefits, healthy living much. If you have a hospital stay, try can also offer financial rewards, such  Know how your drug plan to keep a log of all the services, as lower premiums for non-smokers works. Check your medications and supplies you are and fewer doctor visits for those with copayments and know the given, so when you get a bill you can low blood pressure. maximum amount your plan be sure you are not charged for will pay for in one year. Find procedures you didn’t have or items 9. Make careful decisions about out if your plan has a you didn’t use. Ask for an itemized bill. prescription drugs. Prescription formulary (a list of preferred drugs that are covered). A  Consider pill-splitting. Some expensive medical care or health plan with a closed medications can be obtained hospitalization in the future. formulary pays only for at double the prescribed certain pre-approved drugs. A dose, and then split in half. 10. Use a health care spending plan with an open formulary This practice can result in 50 account to pay for medical will cover most drugs but at percent savings. You must be expenses with pre-tax money. If your varying prices. sure your medication is employer provides you access to a appropriate for splitting, so Flexible Spending Account (FSA) or  Use a mail order pharmacy if talk to your doctor first. Some Health Savings Account (HSA), use it. one is available. Ordering medications require very These accounts let you set aside prescriptions by mail can precise dosing, and others pretax money from your paycheck to save 10–15 percent and is simply cannot be split pay for eligible items like prescription perfect for patients who take effectively or accurately. drugs, deductibles, coinsurance, medication on an ongoing dental expenses and vision care. You basis and can place orders in  Look into manufacturer aid get to save for these expenses advance. programs. Most major drug gradually, rather than having the manufacturers have money in your checking account when  Talk to your doctor. Make programs to subsidize the need arises. And, because you sure your physician knows if patients who are not able to don’t pay taxes on the money, you are you have to pay for pay for medications they actually getting a “percent off” or a prescriptions out of your own need. All of these programs discount on everything you purchase pocket. Often there are less require your doctor to apply with your saved money. For example, expensive but equally for you. assuming the government takes 20 effective treatment options. percent of your income, and you put  Take all medications as $500 in your health care spending  Compare prices. Shop prescribed. Not refilling your account, you save about $100 in around for the pharmacy that prescription might seem like a taxes. offers the best value for your good way to save money, but needs. You may even need to it may in fact cost you more Health care costs are tied directly to get different medications from money in the long run. Many utilization; when you use your health different pharmacies drugs, when taken as plan more, there are more claims. And depending on which offers a directed, can help prevent the higher the claims, the more you better price. and your employer must contribute to pay for these claims. Don’t forget that the most cost effective way to reduce the cost of health care is to make better decisions about the way you live, including the way you eat, exercise and spend your health care dollars.