It can take a lot of effort to stay healthy, and if you’re a parent, you have to be responsible for the health of yourself and your children. The doctors’ visits, medication, and treatment can really add up. If you’re concerned about the costs of medical care and how to save money, here’s everything you need to know.
What does healthcare cost the average American?
Healthcare costs the entire country trillions of dollars every year. Many people suffer from one or more chronic illnesses, which results in higher healthcare costs. These trillions of dollars are what the country is spending on healthcare, but how much are you responsible for paying? You will end up spending around $3,000 a year. This means that people directly pay for about a trillion dollars of that overall amount. However, Americans ultimately cover the entire amount because the other two trillion dollars is paid for using taxes and employee premiums. Healthcare coverage might be included in your employment benefits, but it’s coming out of your pay. You’ll also be forced to pay surprise medical bills, like those charged when you see someone out of network or have to take an ambulance to the hospital.
What exactly are you paying for?
When doing remote work during a pandemic like COVID-19, the last thing you want to worry about is medical costs. If you have health insurance, that’s the biggest annual expense in regards to healthcare. You’ll pay several thousand dollars a year just on your insurance. If you don’t have coverage, you’re not paying that expense, but if you need to receive medical treatment, the out-of-pocket costs will be much larger. For the insured populations, annual check-ups at the doctor are usually covered and if it’s not, you typically pay a small co-pay. Without insurance, this trip could cost you $160. If you’re in need of an ambulance, you could be out thousands of dollars. An ambulance company will usually charge a flat amount plus a fee per mile traveled. An emergency room visit can also cost you an exorbitant amount of money, whether you have insurance or not. Of course, you may never need an ambulance or to visit the emergency room.
What will cost you the most? After insurance premiums, it’s probably prescriptions. 70% of prescription drugs require patients to pay at least a little out-of-pocket. Prescription drugs cost an average of $30 (though some cost much more), and if you have a chronic condition that requires you to take several pills a day, these costs could add up.
How can you reduce these costs?
There are a few easy ways to save money on healthcare. If you bring cash to the doctor’s office, they may charge a lower amount for the visit. You can compare insurance costs online and find the best plan for your needs that also saves you the most money. You may also want to call providers and ask them about the charges you’ll face when it’s time for a visit. Knowing what you’ll need to spend ahead of time can help you save up. Whether or not you can reduce the costs of your insurance plan, you’ll want to lower the amount you spend on prescription drugs. USARx offers coupons for medications so you can afford to stay healthy. An Adzenys coupon could make a huge difference for you and your family. At the end of the day, it’s crucial that you be aware of what you’re spending on medical care and do what you can to reduce costs.
Americans tend not to realize how much they’re spending on healthcare. Stay on top of your finances and know what you’re putting towards your health. Your family and bank account will thank you.