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Here's help so your health benefits and finances can do the same.
Living Single
Stretch Your Dollars: How to Save Money with Health Benefits
In today's economy people are cutting costs everywhere they can. They are clipping more coupons and taking fewer vacations. What many people don't know is that their health benefits can also save them money. By taking a few small steps, it is possible to put as much as $4,000 back into your bank account.
Save with mail order
Many health plans offer discounts if you use mail-order pharmacies for routine medications. You could get a three-month supply of your drug but only pay for a two-month prescription. So, if your family spends $50 per month on prescriptions, you could save about $200 per year. You would likely take advantage of a "buy two, get one free" deal at a department store or grocery store, so why not do it with your prescriptions as well?
Go generic
Last year, the average brand-name prescription drugbrand-name prescription drug
This drug is protected by patent and can only be given to you with a ... more cost about $85 more than the average generic. By switching just one prescription from a brand name drug to a generic, you could save more than $1,000 a year. Assuming you spend about $100 at the grocery store, that money could cover about 10 shopping trips. Talk to your doctor if you have concerns, but generally doctors also recommend generics.
Stay inside the network
Make sure your doctor is in your health planhealth plan
A health plan that you buy or that is provided by your employer. It pays for health care services. I... more's networknetwork
Also called "provider network." A panel of physicians, hospitals and other health care professionals... more. Even if your health benefits planhealth benefits plan
A plan purchased by an individual or provided through an employer that provides payment for health c... more has out-of-networkout-of-network
Refers to care you receive from doctors and other health care professionals who do not participate i... more benefits, it usually costs considerably less to use an in-networkin-network
Also called "provider network." A panel of physicians, hospitals and other health care professionals... more physician. Depending on where you live, a simple outpatient surgical procedure such as a colonoscopy could cost you as much as $1,500 more if you go out-of-networkout-of-network
Refers to care you receive from doctors and other health care professionals who do not participate i... more. If your doctor is not in the networknetwork
Also called "provider network." A panel of physicians, hospitals and other health care professionals... more, see if he or she will consider joining. Don't let your money go to waste — you could use the savings to help cover your family's next vacation.
Visit your doctor online
Some doctors offer online consultations, which are often more convenient than in-person visits. Talk to your doctor or your insurer to find out how to use online visits properly. By using them reasonably, you could save gas money as well as valuable time.
Improve your health to save money
Many health insurance companies offer "wellness incentives," which are often considerable. As an example, you could earn $600 for exercising regularly and eating a healthy diet. Ask your health benefits providerprovider
A licensed health care facility, program, agency, physician or other health professional that delive... more how to get started. Just for staying healthy and filling your insurance company in on your everyday activities, you could earn enough money for about ten fill-ups at the gas station, assuming you drive a mid-sized economy car. Keeping your health benefits company updated on your health also enables them to tailor your health program to fit your needs.
Spend your FSA cash
Even with endless "use it or lose it" reminders about year-end money disappearing from Flexible Spending AccountsFlexible Spending Accounts
A FSA is an account tied to an employer-sponsored health plan. It can be used to pay for medical exp... more (FSAs), many people still don't spend all their dollars each year. Each year, 14 percent of consumers leave an average of $723 in their FSA. You don't get that money back. Find out what your FSA covers. You may be able to stock up on sun block, allergy medicine, calamine lotion and prescription sunglasses.
Use the Navigating Your Health Benefits tool for more information on making smart health benefits decisions.
© 2012 Aetna Inc.