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9 Secrets to Saving on Healthcare Costs
General · Costs
9 Secrets to Saving on Healthcare CostsDid you know that 66% of people who file for bankruptcy cite medical issues as a key contributor to their financial downfall?  It's no wonder why rising healthcare costs continue to be a hot topic of conversation. So finding creative ways to save on healthcare costs should be top of mind for you.  Whether you have Medicare, coverage through your employer, or insurance through the marketplaces, here are 9 ways to save on medical costs.    1. Incorporate Healthy Habits   Finding ways to improve your general health and wellness can lower your out-of-pocket health care costs. After all, fewer trips to the doctor means fewer copays and less money spent on healthcare. Here are 4 simple actions you can take to live a healthier lifestyle. Less sugar, more water. Drink plenty of water and eat foods high in water: Think cucumbers, watermelon and celery.Sit less, more movement. Stand up throughout the day, stretch, take the stairs, and park further away: These are just a few ways to move more.Get rest. When thinking of healthy habits, sleep often falls low on the list. But chronic sleep deprivation can increase heart disease, diabetes, stroke, obesity, and many other illnesses.Wash your hands. The coronavirus pandemic serves as a major reminder to wash our hands frequently and correctly. Wash your palms, fingernails, and the backs of your hands thoroughly for at least 20 seconds. 2. Reduce Stress Stress often increases with age, leading to a host of health problems. Finding ways to lower your stress can go a long way.There are many simple ways to reduce stress in your daily life. Try things like working out or moving daily, spending more time with friends and family, and reducing your caffeine intake. And don't forget to laugh more. 3. Save Money on Medications The cost of prescription drugs can really take a lot out of your wallet. So if you're used to getting brand-name medications, consider asking your doctor for a generic alternative. It could save you money in the long run.For seniors especially, the cost of medications continues to rise at an alarming rate.One of the simplest ways for seniors to save is to find and compare Prescription Drug Plans (Medicare Part D). Start by comparing quotes, or talking to an insurance agent who is willing to research the medications you take.The right agent will have knowledge of all the pharmacies close to your home and plans available in your area. He or she can also help you identify ways to save on your prescriptions. 4. Use a Health Savings Account (HSA) You may have access to a Health Savings Account (HSA) through your employer (or previous employer). Using an HSA can save you money because your contributions are pre-tax dollars and can accrue interest.And unlike a Flexible Savings Account (FSA), the HSA is owned by you, so it can carry over into your retirement. And there is no deadline on when you can spend the funds. 5. Know The Difference Between Emergency Care and Urgent Care Some people don't know the difference between emergency care and urgent care. But knowing which option to use in a given situation can save you money: Emergency room visits can cost far more than urgent care center visits.Your initial reaction might be to go to the ER when you need medical treatment but can't see your primary care doctor. But in many cases, an urgent care facility will serve you just as well at a lower cost.Start by keeping a list of nearby ERs and urgent care centers handy. An urgent care visit is good for a minor illness or injury, but if your condition is life-threatening, always go to the ER.You might also consider going the telemedicine route, which entails talking to a doctor online, rather than going to an in-person appointment.Telemedicine usage also gained momentum during the coronavirus pandemic.Overall, turning to telehealth may not only reduce your healthcare costs - it could save you time and keep you out of the waiting room. 6. Ask If All Tests Are Necessary You may think that doctor-ordered tests are standard protocol, but those tests could get expensive fast. Be sure to ask your doctor if all diagnostic tests are necessary for your health.Don't be afraid to ask your doctor if all diagnostic tests are necessary for your health. Here are some questions to get the conversation started.Why is the test being done?What steps does the test involve?How long will it take to get the results?What will the test cost? 7. Request Outpatient Services When Possible Did you know that some inpatient procedures can be performed on an outpatient basis? Often, doctors choose to have a procedure performed on an inpatient basis, simply for the convenience of the patient and the medical staff. Many procedures do require a medically supervised period of recovery, but not all of them.There's nothing wrong with asking your doctor if a procedure can be performed in an outpatient clinic rather than at the hospital. If so, the savings can be significant. 8. Choose Your Doctors Wisely Just because a physician or facility accepts your health insurance or Medicare plan doesn't mean that your costs will be controlled.If you're on Medicare, consider these two steps:First, check if the provider accepts assignment. This means that the provider has agreed to accept the Medicare-approved amount as full payment for services. If your provider doesn't accept assignment, then your out-of-pocket costs may be higher.Second, choose the right doctor for you. The ideal provider has specialized experience with those age 65 and over, which can save you repeated visits to the doctor. One way to shop around for doctors and specialists is through the physician compare feature on Medicare.gov. You can use this tool to compare providers in your area, or you may opt to discuss the topic with a licensed insurance agent.In general, researching and shopping around for the right healthcare provider could save you money over time. 9. Use Your Medicare Benefits It may sound contradictory, but going to the doctor can ultimately lower your healthcare costs.Most insurance plans, including Medicare Advantage, come with certain wellness benefits. Getting regular physicals and patient-specific tests can uncover minor health problems before they become major ones.Let's say a man gets a routine PSA blood test done, which reveals the possibility of low-grade prostate cancer. Early intervention makes the treatment cost far less early on, resulting in fewer trips to the doctor and fewer copays. In other words: lower cost. You Can Save On Healthcare Costs Bottom line: Don't be afraid to do your research, ask the right questions, and incorporate healthy habits to decrease healthcare costs. 
6 Ways to Avoid Costly Hospital Bills
General · Costs
6 Ways to Avoid Costly Hospital BillsThe Affordable Care Act (ACA) was originally implemented to protect people from the skyrocketing costs of health care. But the bankruptcy rate across America remains high - despite how the ACA has contributed to fewer bankruptcies across the country.  Roughly 700,000 people declare bankruptcy each year, with 66.67% of this amount coming from costly hospital bills. Take Susan, a young mother, as an example: Susan had to have a Cesarean section when giving birth to her second child. During the procedure, she and the baby suffered an amniotic fluid embolism, which caused her to need multiple plasma and platelet transfusions and a full hysterectomy. While both mother and child survived, the family finances did not. Under the unforeseen circumstances, Susan had to stay longer than expected. And the final hospital bill caused Susan and her husband to file bankruptcy. Their experience is all too common. People enter the hospital for "routine" procedures and sometimes leave under crushing debt. And while hospitals give lifesaving care to patients, you may find many items on your bill that'll drive up the total cost. In most cases, the final statements are so extensive that patients don’t even question their accuracy. So how can people protect themselves against high — often inflated — hospital costs? How hospital charges add up quickly Hospitals are a business. Patients are charged for everything including incidental expenses. As examples, the average rate hospitals charge is $15 for a single Tylenol pill. Hospitals can also charge $10 per plastic medication cup, so the cost of each dose of Tylenol is even higher. And every time the hospital staff cleans a patient with an alcohol swab, the cost of the swab is $23. And those tiny alcohol swabs can add up fast. Other ways patients may see higher costs on their hospital bills:Mistakes in billing. A medical billing company discovered that 80% of hospital bills they reviewed had errors. As with any other service, mistakes happen. But it seems that billing errors at hospitals are commonplace.Network nuances. The hospital you chose might be in-network, but some of the providers and associated procedures like radiology techs, lab services, and specialists such as anesthesiologists may not be. If these are used during your stay, you may have to pay for these services out of pocket.Unnecessary tests. Doctors often ask for tests which are not deemed necessary by the insurance company.How a hospital indemnity plan can offset certain costsMany people are finding that hospital indemnity plans can offset certain costs associated with their hospital stays that major medical health insurance does not cover.The truth is few insurance policies cover 100% of hospital costs. Most contain some form of patient share as a coinsurance percentage or a copay amount. And there are deductibles and items which fall outside of the in-network coverage. In other words, having a single health insurance policy is sometimes not enough to protect you from the high costs of a hospital stay.What is a hospital indemnity plan?A hospital indemnity plan is a form of insurance developed that helps you cover additional costs not included in a major medical plan. Unlike major medical, which pays the provider, hospital indemnity plans will pay the person covered.The way it works is an insurance company can pay cash directly to you (or you can have the hospital submit a claim), so you can use it toward out-of-pocket expenses your health insurance might not cover. This allows you to use the funds as you see fit, whether it's for deductibles, travel, or lost income while you're in the hospital. Simply put: The owner of a hospital indemnity policy is in control of the funds — not the provider.But it’s important to know this type of plan is a supplement to - not a replacement for - major medical plans.There are many other terms often used for hospital indemnity plans, which include:Supplemental hospitalizationHospital insuranceHospital cash plansHealthcare indemnityMedical indemnityHealth benefit indemnityFixed indemnity health insuranceIndemnity medical planHealth benefit indemnity insuranceHow does an indemnity plan work?When you buy a hospital indemnity plan, your insurance company will pay you a fixed amount to pay for your medical bills or use the money to supplement income, child care, or any expenses you faced while hurt or sick.If you’re admitted to the hospital for a covered service or condition, you'll notify your insurance company. Your insurer will then pay you a set amount based on a predetermined rate listed in your policy.You'll still want to review your hospital bill to make sure you're not being overcharged - even with a hospital indemnity plan. Doing this will put more money in your pocket for other costs related to the hospital stay.Is a hospital indemnity plan right for you?A hospital indemnity plan can work for most people. Hospital expenses average nearly $4,000 a day, with a typical hospital stay costing more than $15,000 total.So let’s say you have a $6,500 deductible on your health insurance plan and are responsible for 30% coinsurance. This means you would owe a total of $8,200 out of pocket for a $15,000 hospital bill. And this doesn’t even account for lost time at work for you, or travel, food, and parking expenses for your family if they come to visit.And the reality is: Not many Americans can afford that expense. So hospital indemnity plans can go a long way toward protecting your finances.6 tips to reduce costly hospital billsAlthough a hospital indemnity plan can help you cover many of the direct and indirect costs of a hospital stay, most people would still prefer to avoid needless charges. To help, here are some tips to reduce costly hospital bills.Watch for billing errors. Ask your provider for the medical billing codes of the procedures you receive so you can make a note of them. Then, request an itemized bill and compare the billing costs after you've been treated. You'll bill probably isn't correct if you see a procedure performed on Thursday, but you checked out on Wednesday. Don't be afraid to challenge any charge that might be an error.Request only in-network providers. Be sure to let hospital staff know that you only want in-network providers. Most will honor this, if they can. Some states even have laws requiring them to honor your request.Watch for unnecessary tests. Ask if each test is necessary and covered. If it’s not necessary, you can let the doctor know you don’t want the test. Your doctor may have a good reason for requesting the test, but it's up to you to make an informed choice.Shop around. Call hospitals in your area and ask for their rates if you have a planned procedure.Choose the right facility. Consider an urgent care or clinic before going to the hospital. If it's an emergency situation, your best bet is to always call 911. But if not, choosing the right facility might lower your out-of-pocket costs.Don’t stay any longer than necessary. Extending your hospital stay even one day longer can add hundreds or even thousands to your bill. While it's at the doctor's discretion, it's OK to ask if another night is needed.The bottom line is that billing mistakes happen: Don't be afraid to question charges on your hospital bill. Be sure to request an itemized billing statement so you can review all charges. And if you're calling the hospital or a customer service line, be sure to get reference numbers and names of the people you speak with. That way, the call can be tracked and the issue can be potentially corrected.More on hospital indemnity plansA good hospital indemnity plan can provide you with protection from the high - often hidden - costs of hospitalization. And there are many hospital indemnity plans on the market today, so knowing which is right for you can be difficult.Our licensed insurance agents are here to talk through your needs and help you find the best hospital indemnity plan to ensure you understand how each will work for you.Save time and money by finding and comparing hospital indemnity plans in your area. 
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Telemedicine

How to Prepare For Your First Telemedicine Appointment

Imagine that you're traveling for work, and you feel a sudden sore throat coupled with sinus pain. Since you're on the road, you can't get to your primary care doctor, and you worry you'll miss tomorrow's big conference. So you do some research and determine that telemedicine is a good option for you to get a diagnosis and care for your symptoms. But what do you need for this first visit? This guide will explore the world of virtual healthcare and provide a detailed checklist to prepare for your first telemedicine visit. What is telemedicine? Telemedicine connects patients with medical professionals in real time by phone or online. Thanks to telemedicine, medical professionals can now evaluate, diagnose and treat patients using technology like video conferencing and smartphones - all without the need for an in-person visit. Still, telemedicine acts like an in-person doctor visit: Your online doctor provides the same level of health care that you would receive in an office. During your appointment, your doctor discusses your symptoms and develops a treatment plan. But it’s important to note that telemedicine is used for non-emergency health situations, like a cold, fever, skin condition, or sinus infection. Who uses telemedicine?People choose telemedicine for different reasons - mainly because it's a convenient way to get medical care without leaving your home.Maybe you're unable to travel to a doctor's office because of medical reasons or lack transportation. Or you might live in a rural area without medical services, so seeing a doctor requires traveling long distances. If so, telemedicine could be the answer, better fitting your schedule and saving you precious time.Since telemedicine visits happen in the privacy of your own home, you don't have to worry about travel time, long spells in the waiting room, or taking time off of work.What conditions does telemedicine cover?Telemedicine covers everyday illnesses such as the flu, conjunctivitis (pink eye), bladder infections, yeast infections, acid reflux, and certain skin conditions. Certain telehealth professionals can also provide treatment plans for mental health services, like the treatment of depression, anxiety or stress.What telemedicine doesn't include are emergency-related health concerns such as stroke, heart attacks, and major accidents.Your telemedicine checklistNow that you know a bit more about telemedicine, you may have questions on how to prepare for your first appointment. Follow this checklist to make the most of your appointment.#1. Choose a private placeFinding spur-of-the-moment privacy can sometimes be difficult, especially if you live with other people. So before your appointment, choose a quiet room for your virtual appointment and ask your family or roommates to respect your privacy. This way you won't worry about interruptions.#2. Consider technical aspectsWhether you're using a smartphone, computer or tablet, it's recommended to learn how to use the telemedicine company's app or video chat software beforehand. Some telemedicine companies may use well-known video services such as FaceTime (for Mac users), WhatsApp, and Skype (Windows). Or you might decide to simply speak to your doctor over the phone, if that's an option.Check with your telemedicine company ahead of time to learn the ins and outs. It'll help ease any stress or worry about the technicalities of the visit.#3. Prepare your medical historyWhen booking your appointment with an online doctor, you'll be asked to fill in your complete medical history and answer questions related to your symptoms. Be sure to gather relevant documents regarding your medical history ahead of time. For example, if your primary care physician offers an online health portal, it's recommended to have your information pulled up and ready to go for your visit.Your telemedicine doctor may also ask you questions about your lifestyle, job and family life and, if appropriate, your mental health history. The purpose of the appointment is to provide you with the best possible care and treatment. Sharing personal details allows your doctor to diagnose and provide quality care.#4. Get your documents readyLike any doctor's appointment, you should be ready with the following pieces of information:Your list of prescriptions, over-the-counter medications and supplements.Your pharmacy phone number and address.Your primary doctor's name and contact info.Insurance or credit card information.#5. Jot down questions to askIt's natural for a doctor's appointment to make you a little nervous - especially when it's with a new doctor. So you may forget to ask crucial questions during your visit.That's why it's recommended to make a list of questions to ask your online doctor. While each person's healthcare situation is unique, here are seven sample questions to get you started:What is the diagnosis?Will I need any medical tests?What can I do to get better?Do I need a prescription?What do I do if my symptoms continue?How can I access the information/treatment plan from today's appointment?Can I contact you if I have follow up questions?#6. Write down your treatment planYour treatment plan may be as simple as, "drink plenty of liquids and get some rest." But in some cases, you may need to have a prescription filled or to make an appointment to see another doctor or specialist in person. If possible, take notes on the treatment plan and what your next steps are during the appointment.#7. Discuss follow-up careIn some cases, one appointment is all you need to diagnose and treat routine health conditions like a cold or the flu. But if symptoms persist or you need ongoing care to check chronic conditions, you may need follow-up care through another telemedicine appointment or in person. You may also need a prescription, so discussing the next step is helpful.Fast facts about telemedicineToday, telemedicine is becoming more and more common. Here are some fast facts based on a white paper published by FAIR Health between 2014 and 2018:The number of telemedicine treatments increased by 1,393% between 2014 and 2018.After analyzing 29 billion private insurance claims, the study discovered that between 2016 to 2017, telehealth services especially rose by 53%.Urban areas experienced a 1,227% growth in telemedicine patients.The biggest group choosing telehealth were older millennials between the ages of 31-40.For decades, the U.S. Government has also supported telemedicine in rural areas to help rural populations access quality healthcare.Given this support and its rising popularity, telemedicine may become the new norm. The benefits are well-known, too:Convenient access: Patients can connect with healthcare providers easily in urban and rural areas.Lower treatment costs: Individuals, employers and insurance companies may benefit from lower prices when patients receive treatment and advice through telemedicine rather than using urgent care or emergency services.Specialist care: Telemedicine connects patients in rural areas with medical experts.Patient-centered care: Being able to talk with a doctor online at any time makes treatment focused on the patient and may improve positive health outcomes.How to get telemedicine careCheck with your health insurance company to see if telemedicine is an offered benefit. If it's not, you can get a "Teladoc" quote and purchase a plan through our site. The process is easy and takes minutes: The online application only requires your zip code, name and age. Once you enter this information, you'll receive your quote immediately.Teladoc is a large network of board-certified doctors and pediatricians who provide virtual healthcare anywhere at any time. Telehealth services offered through Teladoc depend on the health plan but can cover everything from everyday medical problems to mental health concerns.

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