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medical expenses

How To Negotiate & Reduce Your Medical Bills

Healthcare is expensive and the costs keep rising. As a result, most Americans have been forced to pay a lot more than they have or what they paid a year ago. With such high costs and the current state of the economy, it is pertinent that all patients find out ways of spending a little less on healthcare to have manageable medical bills. Here is a list of ways to reduce your medical bills:

Be knowledgeable about general medical rates

In the current world, you have no excuse of having zero knowledge about Medicare and other medical facts that could help. You should read all there is about the amount that you should be charged for the medical procedure to be undertaken, the cost of the tests and the Current Procedural Terminology.

Armed with this information, you will be able to negotiate for better services at affordable rates. Such information gives you bargaining leverage before the medical procedure and a fall back plan after the procedure, in case any changes are made. It is important to confirm the Medicare rates before any procedure.

September 19, 2016

Health & Beauty

5 Effective Ways To Save On Medical Care And Health Insurance

If there’s one thing that all of us need, especially now, it’s health insurance. However, being that this is still a time when unemployment rates are high and budgets are tight, it’s important to find the kind of medical care and health insurance that’s good but also very affordable.

If this is the dilemma that you currently find yourself in, you’ll be glad to know that there are actually several effective ways to save when it comes to your healthcare needs. If you’re interested in knowing what some of those ways are, please keep reading.

Shop around for the best coverage. By far, one of the best ways to get a good rate on health care insurance is to shop around. This will help you to see what each company has to offer. Do keep in mind that if you’re wiling to pay a higher deductible, you can end up paying a lower premium. This is good to know if you’re someone who is in good health and doesn’t see the doctor often (other than for your annual check-up).

August 13, 2014

Taxes

What Medical Expenses Can I Claim To Lower My Income Tax?

Canadians are not always aware of what they can claim on their income tax return with regards to their medical expenses. I have outlined below some of the items that you need to be aware of in order to ensure you are claiming your medical expenses properly.

Medical Mileage

You can only claim mileage for distances greater than 40kms one way. Note, if your hometown offers the same medical service, then you cannot claim mileage if you choose to go to a different location. For instance, if your hometown has a dentist, then if you go to a dentist in a different town you cannot claim mileage for that trip. You don’t need to keep your fuel receipts as accountants use a simplified method to figure out how much you can claim for mileage.

Medical Meals

You can claim meals when you travel a distance of 80kms or more one way for a medical service. Once again, however, you cannot claim meals if you have the option of obtaining the same medical service in your hometown. Ideally, it’s a good idea to keep a medical travel log indicating when and where you went, what the trip was for, etc. That way it’s easier to claim your medical travel and meals come tax time. You don’t need to keep your meal receipts as accountants use a simplified method to figure out how much you can claim for meals.

September 21, 2013

Health & Beauty

5 Tips For Negotiating A Better Price On Medical Bills

In 2009, CNN published a feature that was actually pretty startling. According to the feature nearly 60 percent of all bankruptcies that are filed within the United States are directly related to the medical bill debt that individuals have had. So, we’re pretty sure that you can see why finding ways to negotiate a better price on medical bills is such an important thing to know about.

September 16, 2013

Health & Beauty

5 Tips To Help Yo Save Money On Medical Expenses

Regardless of how well you organize your life, how prepared you are for every contingency and how well maintained your finances, unexpected medical issues can arise and mess everything up. Medical problems are never pleasant, and obviously you need to focus on getting yourself well before worrying about the expenses. But at some point those bills will become due, and whether you have health insurance or not these costs could be just as crippling as the medical issue itself. Luckily there are ways to manage these bills and hopefully come out financially whole on the other side. Here are five tips to help you save money on medical expenses.

First off, consider negotiating with your doctor. Although you might never have thought about this before, the price your doctor’s office gives you isn’t set in stone. If you do not have health insurance there is even more leeway for pricing adjustments, as you will be paying the office directly. They don’t have to take the time to submit paperwork and wait for payment from the insurance provider. Make sure you mention your requirements to the nurse in charge when you book your appointment, and then take the time to sit with them and discuss possibilities before you pay in full.

February 2, 2013

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