5 ways to cut health care costs

Living well is about everyday choices. Whether it’s the doctors you choose or where you go for care, your decisions affect both your health and how much you pay. Here are some ways you can make the most of your health benefits and save money all year long.

1. Get a checkup every year. Yes, even if you feel healthy! Preventive care is free when you stay in-network, so there’s no excuse to skip it. Routine checkups, vaccines, and screenings can help your doctor catch potential issues early, before they become more serious — and more expensive — problems. Use the “myhealthfinder” tool at healthfinder.gov to see which preventive services are recommended for your age and gender.
   
   Don’t forget that you play a vital role in effective preventive care by living a healthy lifestyle that includes regular exercise and nutritious eating.


2. Stay in-network. Providers in your medical plan’s network have agreed to charge only up to negotiated rates and bill your insurance company directly, which saves you money and time. Search for in-network providers that meet your criteria on your medical plan’s website. Also, check with your medical plan carrier to ensure that a service is covered before you receive care.


3. Pay for care with tax-free money. Contributing to a Health Savings Account (HSA) or Health Care Flexible Spending Account (FSA) is easy and saves you money. Since you don’t pay income tax on the money you put into an HSA or FSA, it’s like getting a discount on your medical, dental, vision, and prescription costs! Both accounts let you set aside pre-tax dollars from your paycheck to use for your out-of-pocket costs — but there are some important differences.
   
   Keep in mind: You can sign up to contribute to an FSA or HSA only at certain times of the year — as a newly hired employee, during annual benefits enrollment, or if you have a qualified life event, like getting married or having a baby. So don’t miss your chance when you have it!



HSA vs. Health Care FSA: What’s the difference?

• HSA: You must be enrolled in a qualified high deductible health plan (HDHP) to be eligible. All the money in an HSA rolls forward year to year, so you can spend it on eligible health expenses anytime, even in retirement. You can change your HSA contribution amount any time during the year.
• Health Care FSA: You must not be enrolled in an HDHP to be eligible. FSAs have a “use it or lose it” rule — at the end of the year, you may be able to carry over a certain amount of unused money to the next year; amounts over this limit will be forfeited. You’ll want to estimate your contribution amount carefully, since you can’t change your FSA elections unless it’s annual Open Enrollment or you have a qualified life event.


4. Don’t overpay for prescriptions. Visit your prescription plan’s website to look up the cost of a drug your doctor prescribes. There may be a less expensive alternative. You can also use a site like goodrx.com to find the best prices near you — individual pharmacy costs can vary widely. And, always choose generic drugs when available. Generics have the same active ingredients as their brand-name counterparts and meet the same safety and quality standards, but they cost about 80% to 85% less.


5. Pick the right facility. Where you go for care can make a big difference in how much you pay and how long you wait to see a health care provider. When you or a family member needs non-emergency medical attention, call your primary care doctor first. They know your health history — and some providers may even offer same-day appointments to meet your needs. If your primary doctor is unavailable, consider your other options so you can get the appropriate treatment and avoid financial surprises. Take a look at the chart below:

Where to go	Use it for	Average cost
Telehealth: Your medical plan may offer telehealth services that let you see a doctor by phone or video, from anywhere at any time	Common, non-emergency medical issues that can be diagnosed virtually, including cold/flu, ear infection, and pink eye, as well as behavioral health visits	$
Retail clinic: Walk-in clinics are conveniently located in many large pharmacies and retail stores, such as CVS, Walgreens, Target, and Walmart	Immunizations or treatment for minor symptoms such as a cold, sore throat, or fever	$
Urgent care: Walk-in facilities are often open evenings and weekends, many with X-ray and lab services	A condition that needs immediate care but is not life- or limb-threatening, such as a broken bone, severe sprain, cut requiring stitches, or anxiety attack	$$ Tip: Save money by confirming the facility is in your plan’s network before you go
Emergency room: These facilities treat urgent, acute and life threatening conditions, and are open 24/7/365	A life-threatening or potentially crippling condition that needs immediate attention, such as chest pain, difficulty breathing, loss of consciousness, or uncontrollable bleeding	$$$