Tuesday, November 6, 2012

Effective Ways to Spend Your Money in Health Care

The Affordable Care Act that the Supreme Court recently upheld extends health care coverage to over 30 million uninsured Americans but actually does very little to make health care affordable. Since 1970, health care spending has grown 9.8% annually, more than twice the rate of inflation. Medical costs now consume 17.3% of our gross domestic product. That’s $8,086 for every American or about twice as much per capita as most developed countries spend.  Although we pay more for medical care than any other country, America currently ranks 19th in the world in preventable death, 26th in life expectancy, and 31st in infant mortality.

Here are few ways to be spend your money more effectively in medicine:

1. Make sure the medicines you are taking are needed and appropriate.

2. Don’t Assume Herbal Supplements Are Safe or Adequate

3. Use generic drugs when possible.

4. Consider using a mail-order pharmacy

5. Look Into Splitting Higher-Dose Pills

6. Ask your pharmacist or doctor about ways to lower your medications costs. Pharmacists, in particular, may have suggestions on how you can spend less money but still keep healthy.

7. Ask if you still need to take a medication. Sometimes people remain on a medicine long after it is needed or can lower their need for medicines through healthy lifestyle changes.

8. For medications you take long-term, get 90 days supplies!  Many insurance companies and pharmacy drug programs offer lower prices when you get 90 days supplies.

9. Ask your doctor for samples. This can be a good way to save money when you are first trying a new medicine.

10. Look for coupons on the internet.  Here are two websites to try:

11. There are many prescription assistance programs that provide free prescription medicines for people without prescription insurance. Checking these websites:

12. You may be eligible for low-cost medications under the Medicare and Medicaid programs.  Use this website to see if you are eligible  

13. Consider ordering online
One way to use the Internet to save money on prescription drugs is to go to the BidRx Web site. Free registration is required to use the Web site. BidRx is a secure Web site that links consumers with pharmacies, manufacturers, prescribers, and payers so all can make better decisions when purchasing prescription drugs. It is an Internet auction site for prescription drugs. BidRx provides the information consumers need and allows consumers to define pharmacies they want to compete for their prescription business. Click here for more information.

PBS has great article on this issue. For more informations please click here


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