20 Ways to Save On Medical Bills

1. Use Checking and Savings Wisely

First and foremost, let's make sure we are on the same page, financially-speaking. If you have a Checking and Savings Account, you need to make sure you understand how to use it before you actually do use it, too many people take money out of both and spend like crazy, that's not going to work in terms of paying medical bills or anything else for that matter.

You don't touch your savings unless it's an emergency and you don't spend your checking cash unlessd you spend it wisely. Use this example to help guide you: Set up an automatic transfer from Checking to Savings once a week with your bank, let's say it's $100 or $200, depending on your income (it could even be more at that), the rest of the money will stay in Checking. Plan to keep $1000-$2000 in your Checking (or more, it's all income-dependable). Bills come first, everything else comes last. This tip here will be extremely important when it comes down to paying medical bills.

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2. Don't Get Sick, Stay Healthy

Makes sense, doesn't it? Don't get sick in the first place. Much of the time, it is preventable. Reduce your stress by taking a yoga class, listen to some music, invest in a Modell's Treadmill or Elliptical machine for under $500 and exercise for 15-30 minutes a day. Don't drink often, only socially, and don't smoke (ever). Wash your hands frequently for a total of 10-15 seconds, this will help prevent flu and sickness. Be sure to floss daily in order to prevent periodontal disease. Prevention is one of the best cures around.

3. Buy Your Own Equipment

Crutches, braces, you name it. Why not get all of that yourself instead of letting your hospital provide it for you? Think of it as buying a slice of pizza in New York City - Buy in Manhattan and it's $2.00, but if you buy it in the Bronx or Brooklyn, it's $1.00-$1.25 (that might even include a can of soda as well!).

4. Get a Career in the Health Field

Becoming a part of the Health field has many huge advantages when it comes to your medical bills and paying them. Many health jobs pay your medical bills for you. Become an EMT, doctor, paramedic, nurse, nurse assistant, LPN, medical biller, a dentist, the list goes on! Some of these courses are for 3 to 6 months with prices ranging from $700-$1000. Once you graduate, try to avoid private companies as best as you can, if you need to work for one for experience purposes then do so but make it your goal to get into a hospital or some place equivalent.

5. Review Your Bills

This is a big one. People make mistakes, we're all human, some notice them, some don't. Being that it's your medical bills, make it your job as well to notice them. Scan your bills for accuracy, 8 out of 10 hospital bills are bound to have errors in them. Keep a log of your medications, tests, and visits. Also be sure to take full advantage of a program called Quicken's Medical Expense Manager which is useful for tracking spending, pinpointing potential savings, overlooked tax deductions, and billing errors if any.

Be sure to request itemized bills so that it will go into detail about the charges. Request an audit of your medical bills from your healthcare provider's billing office and/or your insurance comapny. In the event that you do find an error, correct it immediately, even if it comes down to requesting copies of your medical chart and pharmacy ledger.

6. Study Your Insurance Policy

Simply read your provider's policy and become familiar with what they cover and what they don't cover. Terms may change every now and then so it helps to double-check with your provider on this matter prior to getting treatment. You never know, it may cover way more than you think - Vitamins, hospitals in your area, alternative medicines, health clubs, safety equipment, and the list goes on.

Be sure to shop around for alternative providers as well as different companies come with different rates for coverage, based upon their claims. You might find a better rate but be warned, cheaper is not always better. Things to look out for are co-payments, deductibles, and co-insurance.

7. Budget a Payment Schedule

If you're having issues paying your bill in full or on time, call up your billing office and ask that they work with you in generating a payment plan. Remember Step 1? Well that factors into this in a huge way. Examine your income, what you have, and what type of small, manageable payments you're able to make and when.

8. Seek Discounts

Try to negotiate a lower cost (especially for medical treatments and procedures). Discounts can happen by simply asking, no harm done in that. The healthcare business is a competitive industry where all providers will do almost anything to keep their customers for the long-term. Your bill could possibly be reduced to as much as 30-40% or entirely if your insurance covered a large portion of the bill.

9. Save on Medications and Supplies

Seek out generic prescription drugs (thanks to the FDA who tamed their restrictions with pharmaceutical companies back in 1997) which are just as effective and safe as their name-brand counterparts except they cost way less. Find out if there is an alternative over-the-counter offer from your doctor for less money. You can also ask your drug insurer to let you order directly from the plan which will save you anywhere between 15-35% on your pharmacy co-payments every month.

Ask your doctors for medication/treamtent samples, you can get a supply of up to several weeks worth with no charge. You can even buy online to find the best medications deal. Be sure to visit the Partnership for Prescription Assistance at pparx.org where you can find over 400+ patient-assisting programs that offer discounts on hundreds upon hundreds of medications. Last but not least, compare between discounters like Wal-Mart, Costco, and other drug stores for the best prices.