by McKenzie Stalkenburg

 

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Are you spending too much on medical treatment? Healthcare costs can be so severe that many people end up in huge debts. Here are some ways in which you can spend less when getting the treatment you deserve.

Get insured

Taking out health insurance is the best way to make healthcare affordable. Whilst you will have to pay a small monthly fee, it could be better than having to pay for huge treatment costs out of your own pocket. You should compare health insurance plans online to find the best rate.

Shop around

You can also lower the cost of treatment by shopping around clinics. Different hospitals are likely to charge different rates for high cost treatment such as surgery. By comparing prices, you can find the most affordable one and save some money. You can also save money on medication by shopping around and not just going for the big brands – many of the smaller generic brands could be just as effective and much cheaper.

Negotiate

Many hospital billing departments are also open to negotiation. If the costs are out of your price range, let the billing staff know and see if they can offer any discounts. Some clinics may be able to offer payment plans that involve paying in installments – this is something that generally only applies to scheduled treatment and not emergency treatment, so bear this in mind.

Know your legal rights

In certain cases, you may be legally entitled to compensation as in the case of an injury that was directly the fault of someone else. Consider finding a lawyer who can help you file a legal claim. Legal compensation may also be owed in the case of medical malpractice or a billing mistake.  

Look into other funding options

There could be other ways of funding treatment that could help to make medical bills more affordable. There are certain lenders out there that offer 0% interest loans for medical purposes – this could allow you to borrow money for emergency treatment without having to then pay huge amounts of interest in the long run.

You may also be able to take money out your retirement pot to pay for medical treatment. This could result in having less of a pension to retire on, but if you’re trying to find funding for life-saving treatment you may not be too concerned about this.


You could also consider taking out an FSA to help fund treatment. An FSA (Flexible Savings Account) allows you to pour tax-free earnings into an account which you can then use to pay for medical expenses. On top of treatment, FSAs can be used to buy general medical supplies, over-the-counter drugs and even prescription glasses. You can also pay for your entire family’s medical expenses using these funds. Talk to your employer about setting up one of these savings accounts.