The current events affecting health care economics may leave us in devastating state. How couldn’t it? We have to deal with the reality that the health care costs keep rising all the time. It’s probably easy to say that we should just stay healthy because of that. That’s a remarkable advice, but in reality there are more than tips to cope with the harsh reality of the rising health care costs.
Current Events Affecting Health Care Economics
Before we go on the tips on how to deal with the rising cost of health care service, it’s better that first we need to know what are the current events affecting health care economics? What make the cost keep rising. Here is the brief explanation!
There are widespread major inefficiency in the way of how we pay the doctors, hospitals and also the other kind of medicals providers. Most of the insurers pay under the fee for service system which reimburses each test we follow. This kind of ineffective phenomenon does affect health care economics.
The aging population is also the behind the reasons that affect health care economics. As we grow older, we also grow fatter and sicker. It let the doctors and hospitals to take more patients under their limited capacity.
The bigger event which affects health care economics is the baby boom. The more babies born in the world, then the more costs spend to sustain the health care service and facilities.
The rapid growth of researches and findings on new medical technologies—robotic surgery, for example—does affect the health care economy. The thing is that the newest technologies do not always better than the older cheaper ones. These costly technologies may improve the health care’s quality in one of some many reasons, but they push up costs for the patients at the same time.
Not only technology, the drug costs in the market are also rising, although at a less fast pace. It happens due to the development of researches and inventions on the new branded drugs which are way more expensive.
How to Deal with the Current Events Affecting Health Care Economics: The Guidance
After we are aware with the current events affecting health care economics, now we have to be a smart consumer which copes up well with the situation. Here are the tips and guidances!
Ask for Generics
As we know that the reason why health care cost is high nowadays is that there are a lot of newer and more expensive branded drugs. Hence, when your doctor prescribes you the drugs, simply ask him/her whether there is a generic alternative which is suitable for your condition or not. You should also try to ask your doctor if he/she has the over-the-counter alternative, particularly when it’s supplement, such as iron pill, prenatal vitamin or perhaps a medicine for gastrointestinal problem. Trust me, opting for generic instead of branded drugs will be an enormous savings for your!
Listen to What Your Doctor Said
It’s not quite surprising to find out that 20% people never fill up the prescription which they receive from their doctor. It may sound exaggerating for you, but in fact your failure to follow the order from your doctor will lead you back to hospital, or on the other words, charge you more medical bill.
You may not think twice when it comes to buy the drugs and medicines according to the prescription. However, you should start to reconsider buying the drugs and medicines right away in a certain drugstore. Try comparing the prices of drugs and medicines from several drugstores and even consider looking it in supermarket as they tend to sell it in lower prices, especially for the generics.
Not only comparing the price of the drugs, you should as well compare the cost for lab tests. Your doctor may recommend you a facility to do a lab test. However, it’s not that you should always follow his/her instruction. Instead, you should take some time and contact few other testing sites to compare how much they charge for the lab test procedure you need.
Check the Drug Manufacturer’s Official Site
If you happen to be inevitably in need of certain drugs, you should start checking their manufacturer’s website to look for discount card or coupon which will tremendously cut the cost you have to pay. This may happen as the manufacturers are now competing with each other to sell their innovative drugs and medicine. Hence, they need to capture as many consumers’ hearts as they can by giving discounts.
Reduce or Stop Smoking
Moderately talking, smoking does cause numerous health problems. It risk our health that smokers use around 25% or more health care services than the nonsmokers in general. Besides, the smokers are asked to pay almost double life insurance premiums than those who don’t smoke. Hence, stop smoking not only save you money to buy cigarettes but also to pay health care bills.
Think about a High-Deductible Plan
What it means with high-deductible plan is that you have to pay a higher cash deductible prior to the release of the coverage from your insurance. It may sound burdening but monthly premiums are mostly much lower compared to the traditional health plan. It’s a perfect scenario to save more money if you happen to see your doctor just once or perhaps twice a year.
Consider Flexible Savings Account (FSA) or Health Saving Account (HSA)
FSA or HSA is basically the wise idea to face current events affecting health care economics. FSA let you set aside pre-tax cost which you pay for medical expenses all the year. Here, the pre-tax deduction will lower your taxable income. HSA itself allow you to save money for any potential health care cost which is combined as well with the high deductible health insurance plans. It means, although the contributions remain tax-deducible, the withdrawals of the savings are tax-free as long as you use them for eligible medical expenses.
Those are what it takes for us to save more money on health care. The most basic and profoundly important advice to deal with current events affecting health care economics is starting a healthy lifestyle like doing exercises regularly, eating healthy foods, and having enough sleep and rest.