Last Updated on January 29, 2021
5. Always negotiate the final bill
Mastering the art of negotiation will help you a lot throughout your life. Especially when dealing with health providers – just as you have to assume that the final bill contains errors, you must also assume that it is negotiable. Doing a little bit of research and comparing prices from other health care facilities near your area might increase your chances of success. So make sure you do that and explain your numbers during the negotiation process. You can also disclose your annual income to the health care provider in an attempt to get medical bills reduced. Health care providers usually make things easier for low-income people, so giving away that information may get you an amazing discount and payment plan – some hospitals even have specific programs to offer financial aid for patients in need, so explore that option if the criteria apply to your situation. Needless to say, this only works if the amount charged is a substantial part of your annual income.
4. Pay the entire bill at once
If you have the financial means, you can offer to pay the entire bill at once in exchange for a substantial discount. Health care providers usually accept such offers because they would rather receive the money immediately than go through a long collection process. According to health insurance experts, you should always aim for a 20% discount since that’s usually a percentage that can please both parties. If your negotiation skills are on point, you might even get a little more.
3. Get better deals on prescription drugs
Getting the generic version of a prescription drug is a great way to save a considerable amount of money. Don’t worry, unlike what many people think, generic prescription drugs are just as safe and effective as their name-brand counterparts. So make yourself a favor and opt for them. Moreover, ordering prescription drugs that you use regularly in bulks is another great way to save more money and reduce your monthly expenses. You can even order these drugs online from a retailer anywhere in your country that sells them for a lower price!
