If you’ve been trying to figure out how to save on medical expenses, here are a few ideas worth trying out. Just last month as I was picking up a prescription I reminded myself that I needed to try a few of these out again as well, and I’d love to here your suggestions also. Here are a few ideas:
- Use generic prescriptions when you can. Many prescription medications are available in a generic form, and it can help you pinch quite a few pennies by opting to use the generic form instead of the brand name prescription.
- Search the internet for coupons on regular (non-generic) prescriptions. Just this morning I googled one of the prescriptions we regularly purchase, and found a coupon for $15 off each prescription for the next six times I pick up this certain medication. While that doesn’t sound all that exciting, that’s a whopping $90 off ~ not too shabby for two minutes worth of searching!
- Find which stores offer your prescription at the most discounted rate. Some medications are less expensive at warehouse stores such as Sam’s or Costco, so it’s worth finding what the price is on your medications there rather than overpaying at a local pharmacy.
- Consider trying out CVS. Right now CVS has some fantastic bonuses for filling your prescriptions there, and if you’re a regular CVS shopper you can really benefit from these since you’re filling prescriptions anyways. Basically, fill 10 prescriptions at CVS and get $5 ECBs, plus find out more ways to earn extra care bucks which are definitely worth checking out.
- Ask for a discount on your bill when you pay it off in full. I received this great tip from a reader yesterday who had to pay a fairly large medical bill to her local doctor’s office. Oh a whim, instead of just paying the amount, she asked if they would give her a discount for paying it in full immediately when calling to make her payment. Sure enough, they gave her a 10% discount which saved $50. It never hurts to ask, and it might help you save a little extra money!
Your turn now! What tips do you have for saving money on medical expenses? I’d love to hear your ideas, so take a minute and leave a comment to share what’s worked for you.
We have a very high deductible policy so when my wife needed an MRI on her tennis elbow instead of turning it in we called around town and found a cash price for around $350.00. I had prices as high as $1,800.00. It would have cost us way more to turn it in so we paid via credit card out of our tax deductible Health Savings Account. For those of you in the Oklahoma region there is The Surgery Center of Oklahoma which offers cash for services at a reduced rate upfront http://www.surgerycenterok.com/. It is like pulling teeth getting prices up front at most places but we are fighting everywhere we go to get prices up front. We all need to care what they are charging IMO.
Jim
Great tips Jim! My husband is having some problems with his leg (after playing basketball like he was 12!) and may have to have an MRI (although we think it’s getting better…) I never even thought to call and find out prices before choosing a place – great tip! We also have a high deductible, so that really could help. Thanks for sharing!
Just make sure you get a confirmed list from your doctor so he can read the MRI. Our doctor was a cool guy so he was very supportive of what we were trying to accomplish. He gave us a number of places we could call. Some MRI places produce bad images according to our doctor. Medical costs are the biggest problem facing the country right now. So many people have small co pays so they have no incentive to guard the price of medical care. It makes it difficult for people with high deductible policies or cash payers to secure a reasonable price for services. Places we call get pretty snippy when we ask them how much?
Jim
If you join Targets prescription program, you get a card in the mail. Present the card each time you fill a prescription and after five prescriptions you receive a 5% off your entire purchase at Target.
Great tip Wendy – thanks for sharing!
One word of caution…once you decide which pharmacy you are going to use, it’s a really good idea to get ALL your prescriptions from them. That way the pharmacist can catch any potentially dangerous drug interactions. I once had a doctor prescribe a decongestant and when I went to pick up the prescription, the pharmacist was on the phone with my doctor finding a suitable substitute because it could have interacted with another medication that I was already taking and caused severe side effects. Both medications were prescribed by the same doctor, but doctors are only human and make mistakes now and then. Because I get all my prescriptions from the same pharmacy, the pharmacist was able to catch the mistake and talk with the doctor about it. I know we sometimes don’t think twice about our pharmacist, but they are highly trained to know the most up-to-date information and can serve as an added measure of safety in our healthcare.
That’s a great tip – I really want to switch ours to CVS, but right now Publix has all of them and it’s so convenient. The only problem we’ve had is that if we’re traveling and have an issue, Publix stores are pretty limited, so choosing a national chain might be worth it. (I hate to leave Publix, but it definitely is convenient to have them all at one place!)
Laurie,
Please know that Kroger Pharmacy will price match Costco, Wal-Mart, Target and just about everyone else all you have to is tell them to price match!!!!
That’s great Helen – thanks so much for letting us know!
I’ve saved up to 60% on a medical bill before by asking if they would accept a lump sum payment. Let them make an offer first(it may be lower than you ever imagined!). If you think their offer is too much tell them you can send a hundred or two less and see if they take it. Like if the ask for $600 say you only have $500. I’ll often tell them I have that much to give and will use it to pay the bill that is willing to take it…otherwise tell them you want to set up the minimum pymt for the longest period possible. Gives them extra incentive
I learned all this after a very expensive high-risk pregnancy and week-long nicu stay.
Oh! And we have a big store here called Meijer(like walmart only better lol) and they give printed coupons at checkout like Kroger but their will give offers for $20 store gc for any new or transferred prescription. One time I got $60 using them and payed for all the supplies for my son’s bday party