5 Keys To Shopping for Health Care

As you look to take control of your health care and spending habits, you should get acquainted with the concept of shopping around for health care services.

This can be accomplished by making cost comparisons, understanding differences in quality of service, and using a personal cost-benefit equation to determine when the expense is worthwhile. You can save money by asking questions and searching for the most economical option that doesn’t sacrifice value.

For example, consider the following actions:

1. Ask about costs for treatments and procedures.

2. Ask about alternative treatments.

3. Request generic drugs instead of a brand name.

4. Call around to find the lowest cost procedures, treatments, and medications.

5. Search online resources for quality and price comparisons.

Health Insurance Terms

With a good understanding of what some health care buzzwords mean, it will be easier to find an insurance plan that meets your needs and budget.

Here are some common health insurance terms to know:

• Allowable costs—Charges for health care services and supplies for which your health insurance plan covers

• Flexible spending account—An employer-sponsored account to set aside pre-tax money for common medical costs and dependent care

• Health savings account— A personal savings account that’s used only to cover qualified health care expenses

• Network—A group of doctors, labs, hospitals, and other health care providers that your plan contracts with at a set payment rate

• Out-of-network provider—A provider who doesn’t have a contract with your health insurance plan

If you have health insurance questions, talk to us at RCB & Associates, LLC @ 616-233-9050. We provide health insurance for individuals, families, and employer groups, in Michigan.