Costly Mistakes You Shouldn’t Be Making With Your Health

Our health and our finances are more closely linked than any of us might realize. There’s a lot of correlation between health and wealth and, undoubtedly, the rise of medical costs might have a lot to do with that. Unfortunately, we can’t always avoid those costs. We can, however, make sure we’re not making the mistakes that could lead to them becoming unmanageable. Here are a few mistakes you should steer clear of if you want to stay both physically and financially healthy.

Not taking advantage of a wellness program

If you want to make major cuts to your future health costs, then your biggest and best chance is to live as healthy a life as possible in order to. You have to take responsibility for your health if you want to avoid costs for entirely preventable treatments. But you can also get some help with that. Beyond asking your doctor for preventative care, if your employer offers a wellness program, make good use of it. These programs involve incentives, tools, support, and even classes to help maintain your physical and mental fitness. It’s a benefit that a lot of people are still neglecting, but it can do a lot to prevent chronic healthcare issues down the line.

Not shopping around

If you can afford private insurance, then make sure it’s a committed decision. Know not just the costs, but make sure you know what’s included in the agreement. You can opt to pay less, true, but make sure you’re not under-insured. Choose plans based on what’s available around you, as well. For instance, are the doctors and facilities you want to know in the provider’s network? If not, you could be paying significantly more throughout the years, as demonstrated at NerdWallet.com. Even if you’re going with a Medicare package, there are several to select from. Your health coverage isn’t something that you should be making split second decisions on, under any circumstances.

Assuming you’re covered

It’s worth referencing your agreement every time you opt in to use a new treatment, as well. Making the mistake of going for a treatment only to find out you weren’t actually covered could end up costing your dearly. With Medicare, many people assume that falling out of coverage is a thing of the past, but there are still areas like dental treatment, vision and hearing needs, long-term care, assisted living, nursing home care and more that aren’t necessarily covered by it. That doesn’t mean you have to drop it, however. Learn at GoMedigap.com about the supplementary packages on offer. For these packages, you get the same coverage regardless of what provider you go to, so the price tag is often the only difference worth caring about.

jar of coins

Failing to invest in your healthcare

Paying into an insurance agreement isn’t the only way to make sure you’re not paying the full bill right there on the spot. There are further steps you can to invest money now that turns in much greater savings when the time comes. When you get health insurance, for instance, you are offered an FSA (flexible savings account) or an HSA (a health savings account). While flexibility might sound that positive, using an HSA specifically for your healthcare costs can result in a lot more savings in the long-term. These savings grow at a much better rate even though they can only be spent to one purpose and one purpose alone.

Not reading bills carefully

We expect our doctors, nurses, and healthcare providers to be consummate professionals. We might very well have no issues at all with their treatment, but can the same be said about how they bill us? Medical bill mistakes are much more common than the average consumer realizes, and you can find more info at MedicalBillRehab.com on some of the most common of them. Balance billing is one of the most commonly and egregiously made errors, when your costs are added up not to the total that they should be, but the difference between what the insurer is willing to reimburse and what the provider is willing to charge. Even small mistakes in your insurance information on those bills can lead to a denial from your provider, too.

Skipping the broker when going private

Not everyone can afford to go private, but if you can, it’s worth saving a little extra so you can get not just health insurance, but a health insurance broker. There are plenty of mistakes that can be made when buying health insurance. Paying too much, not getting your deductible/premium balance right, ending up underinsured. A broker is paid specifically to know the market, take your details, and come back with the best options based on the information at hand. But brokers can go on to be a valuable partner for those with consistently recurring costs, as well. They know how insurance providers work, so often they negotiate on your behalf to make sure you’re getting the cover you should, even if the provider is reticent to pay up.

doctors table

Not asking to pay less

As they say, if you don’t ask, you don’t get. Forbes.com provides information on the power of negotiation when it comes to your medical bills. Many people assume there isn’t all that much wiggle room, but the truth is that doctors run a business, too, and if it means keeping a customer, they are often to provide a little more leeway on their costs than you might think. Of course, you have to come with more than a hope for generosity. Take a look around the market, get comparative prices from others and show that you could potentially get cheaper treatment elsewhere. You need a little leverage, as with all negotiations.

Be vigilant, be aware of the opportunities around you, and of the costs that could bite you in the backside if you’re not careful. Whatever you can do to prevent further healthcare costs by taking care of yourself, do it. The rates of preventable treatments are on the rise and we’re all footing the bill for them.

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