Tips for Controlling Medical Costs

For families lucky enough to have health insurance coverage, you might think that all you need to do is present your medical card at doctor's visits and at the pharmacy to get what you're paying for.  The truth is though, dealing with health insurance claims and paperwork is enough to make you sick if you aren't already!

Here are some tips for controlling medical costs with health insurance (if you don't have health insurance, you fall under another set of problems that might be addressed in a future post!):

1) Know Your Benefits

Some insurance companies only cover you against sick visits, while others will include coverage for well checks and annual physicals.  Some plans give you annual limits for well visits, and often aren't enough to cover a full physical complete with blood work or any additional testing.  Knowing your benefit limits allows you to explain it to your doctor and get the most health care for the least amount of money.  Most doctors are willing to work with you to provide the most care possible using your insurance plan so that less comes out of your pocket.  Sometimes, it's as simple as using a different blood lab for testing to save money!

2)  Don't Assume the Insurance Company is in Communication with the Doctor's Office

I can't even tell you how many times I've gotten billed for expenses that are covered under my health insurance plan, simply due to errors in how the paperwork was submitted from the doctor or hospital to the insurance company.  Don't take the doctor's word for it when you receive an invoice, jump on the phone and check on the coverage with your health insurance provider.  Often, submitting the paperwork under different codes results in the coverage being provided from the insurance instead of out of your pocket.

3) Keep Everything

There is a statute of limitations regarding medical bills and how long a hospital or doctor can contact you to collect on a payment.  If you receive a corrected invoice in the mail that was for services provided 4 years ago, chances are you will be responsible for paying on it!  Keep all of your records because chances are if you can show bad business practices on behalf of the doctor or hospital (taking 4 years to send an invoice for a service is not really an unacceptable length of time to most people!) you may get the invoice discounted or even removed.  Get receipts as proof for all payments so you aren't surprised with a bill later on something you're sure you've paid but have no written proof!

4) Set up an Insurance Folder

Keep a folder of all your notes for dealing with medical issues.  Take down names of people you've talked to and what they tell you.  It often comes in handy when dealing with medical bills and insurance.  Document dates, how often your phone calls are not returned, and take down direct phone numbers that allow you to avoid using the automated phone systems when you call companies.

For larger medical claims or situations, keep a separate folder for each so you can quickly find the paperwork and information that pertains to that specific situation quickly.

While you can't avoid paying for medical expenses, keeping good records and knowing what your insurance will and will not cover will help you save money on the expense.  Avoiding medical debt is extremely useful to helping you get out of debt!

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