10 Tips to Help You Save Money on Healthcare Expenses

Healthcare expenses are unavoidable and reports show that more than 25% of adults in the US struggle to pay their medical bills.

Unfortunately the cost of healthcare continues to rise which is why it is important to learn more about what you can do to reduce your healthcare expenses.

The good news is that there are several ways in which you can save your money and yet receive the care that you require.

10 Tips to Help You Save Money on Healthcare Expenses

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You might be tempted to go with the health insurance plan that offers the lowest premiums but this is not the best way to cut back on your medical expenses.

1. Don’t skimp on your healthcare insurance plan

Some insurance policies offer a lot of valuable services and discounts that promote a healthy lifestyle. This could include everything from gym memberships and weight management programs to access to nutritionists.

2. Look for extras and discounts in your health plan

You do not need to be a farmer to join your state’s farm bureau as anyone can become an associate member for $20 to $75 a year.

3. Get discounted group health plans through the Farm Bureau

Your membership will allow you to purchase a health plan through a state-wide farm bureau company, a regional farm bureau company or through a partner company, depending on your state.

Most people think that cost-sharing reductions are only applicable to the poor. However, 56% of the Affordable Care Act subsidies go to middle-income families.

4. Find out if you qualify for cost-sharing reductions

Cost-sharing reductions can help to lower your medical expenses, especially if you earn too much to avail of Medicaid but not enough for private plans. You can use the healthcare.gov calculator to find out if you qualify for a tax credit as well as how much you will save.

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