Medical costs such as surgical fees and hospitalization, administrative fees and medicines are rising each year. Let’s look at 4 steps you should do to cut down your healthcare costs.
1. Do not incur in extra costs
If you practice yearly medical check-up, you should avoid the extra costs to be incurred when you are admitted to hospital by bringing the applicable up-to-date test results so that you don’t have to incur further costs to do the test again. Besides, you can reduce the hospitalization costs by choosing to stay in non-television room. Also, you should always check out whether extra costs will be charged for additional pillows, blanket, toiletries kit, furniture and etc before asking for it.
2. Buy generic pills
It is reported that generic drugs are 50% to 75% cheaper than imported patented drugs. It is noted that both pills are similar in terms of the active pharmaceutical ingredient, safety in terms of its studied side effects, strength, route of administration, quality, purity, performance characteristics and intended use.
3. Request for itemized billing
It is noted that ceiling prices in medical fees apply and you should check the itemized bills to ensure that fees charged are adhered to the fee schedule set by the respective medical association. Spend some time to check through the bills and inquire if there are any charges which you are unsure before settling the bills.
4. Utilize the tax exemptions
If you are eligible to enjoy this tax exemption, do utilize it as it will add money to your pocket at the same time ensuring you are healthy. Hence, do not forget to keep the original bills of the medical expenses such as full medical examination and medical insurance premiums paid. However, it is noted that not all medical claims are eligible for deductions.