Overview of Health Care Costs
Health care costs are controlled by the big business and the state of the medical industry; we have no control, right? Well, this is not necessarily the case. It is that mindset that has let the cost for insurance coverage and premiums skyrocket to unbelievable heights. We all figure that when our prices go up for co-pay or our yearly premiums it is based on someone’s decision higher up the chain than us lowly consumers. However, as consumers we have the ability to make the most impact just by being aware.
By keeping an extra careful eye out on your medical bills can actually help you save money rather than just watching your costs grow and grow. By reviewing our bills carefully, you can be on the lookout for errors in billing, which can add up in the end.
Why Do Health Care Costs Keep Rising?
One useful tip is to know where errors usually occur. One mistype and you could be overcharged or double-charged or charged for something that should not be attributed to you. Don’t just keep track of when your appointments are, keep track of all of the treatment and office visits you have. In addition, record all of the prescriptions you fill. Keeping a list of these services can help you when you are doing the second most important step in taking control of your health care costs – reviewing your Explanation of Benefits.
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These “non-bills” track your benefits for all of the services that you have rendered – anything from an office or hospital visit to a procedure to a prescription. Compare these forms with the list you have kept to ensure all billing and charges coordinate.
It is also not just the prices that you need to check but also the dates. Make sure you do not see duplicate dates or two days in a row of the same charge. This is a red flag that should cause you to contact your insurance company immediately. A little work in the beginning can save lots of money for both you and the insurance companies in the long run. You have a hand in controlling your insurance costs but just being aware and alert of all of your billing.