With costs increasing on food, fuel, clothing — and just about everything else — everyone is looking for ways to stretch their dollar. Inflation is hitting everyone; that’s a fact. But how do you hit back?
We’re not just talking about going without your favorite gourmet coffee or putting off a vacation.
Many people are being forced to make changes where it really counts, including in their health coverage.
About 38% of Americans —an estimated 98 million people — said rising health care prices had caused them to skip treatments, delay buying prescription drugs or pay for their care by borrowing money or cutting back on driving, utilities or food in the past six months.* Here in Michigan, 57% of adults experienced one or more affordability issues with their healthcare.** That’s over half of our state’s adult population.
You can actually lower your overall health care costs without sacrificing quality.
Your health is too important, and you don’t want to cut corners when it comes to selecting a family or individual health plan. But how do you find a plan that’s perfectly balanced to fit your health, your lifestyle and your budget? It’s actually easier than you may think once you know what to look for.
Look beyond the monthly premium at other costs included in your plan. Of course, it makes sense to pay as little as possible for your health plan. But keep an eye out for what’s sometimes called “hidden costs.” These are costs that you may not have anticipated and may not see until you use your plan. For example, if you need to have a particular test, screening or exam,
is it covered? Will you be paying “out-of-pocket” for services that other plans may include at no cost? And what about those plan “extras” like gym membership discounts? Certain plans include these at no added cost, while others don’t.
Look for an individual or family plan that will give you more control over your health costs. These plans vary in their features and benefits, but all include yearly physicals and other preventive services at no cost. It pays to take a little time and go over the health plans that are available in your area. Ask about plan benefits and network coverage. You could save hundreds on your health costs each year.
Look for plans with low prescription copays.It’s not always the first thing you think of when looking over a health plan, but it really matters — even if you don’t take a lot of prescription medications. People who occasionally have to get a prescription for common ailments like strep throat or pink eye can be shocked at the cost.
High-quality plans include low copays with generic prescription options that offer you substantial savings. That’s even more important if you have a chronic condition that requires regular prescriptions. And if you do have a chronic condition, here’s something else to look for.
Find a plan that includes resources for those with chronic conditions.
Many people face the challenge of dealing with chronic health conditions like diabetes, high blood pressure, heart disease or asthma. A recent study found that almost 60% of Americans live with at least one chronic health condition, which accounts for 40% of all health spending in the U.S†
It’s a big financial burden, but plans like Priority Health are addressing this issue head-on by offering
Chronic Condition Management as part of its plan benefits. You get access to services, supplies and treatments that saves you money while helping to keep your chronic condition under control.
Choose what’s called a “Narrow Network” option—it could save you money.
Priority Health offers narrow network plan options to give people access to quality care from respected health systems but at a lower cost.
The idea is simple: Narrow Network plans offer a lower monthly premium but require you to receive care at specific hospital systems within the narrow network. Priority Health’s narrow networks include trusted names like Spectrum Health, Bronson Healthcare Partners, Beaumont Health Network, Ascension St. John Providence Network and Trinity Health East Network.
Ask about additional help in paying your monthly cost.
You may qualify to get money toward paying your monthly premium. There’s probably no simpler way to lower your costs than that, but don’t feel bad if you haven’t done it yet. Many people just don’t know how easy it is. You can simply call and ask if you qualify for these added savings.
Conclusion: You have plan options that include quality care without the high price tag. It pays to compare plans this enrollment period and look for a plan with features and benefits that will be a better fit for your budget while offering the quality care you need. Michigan-based Priority Health has a wide range of plans that do that, and you can learn more about them here.
SOURCES: *Inflation Has Many Americans Cutting Back on Health Care, Poll FindsUsnews.com, Aug. 8, 2022.
**Michigan Consumer Healthcare Experience State Survey, published January 2022, accessed at healthcarevaluehub.org., November 2022.
