Search Results for: blog save money on medical bills

Health Insurer Pays Customers Who Save Money on Health Care

Health insurance companies are interested in saving money. Sometimes, they achieve this by denying claims. A health insurer in Massachusetts is trying something different. The insurer will pay patients who save them money by finding less expensive health care options. Typically, when you purchase a health insurance plan, you pay money to the insurance company. You pay a certain amount of money per month for your premium. Your health insurance company, in return, is supposed to cover at least some of your medical bills. In the past, it was unheard of for an insurer to actually pay their customers for … Continue reading →

Ways to Save Money on Health Care

Health care is expensive, and the price seems to keep rising. Families are going to have to find ways to save some money on health care. Some of these tips are only going to work if you already have health insurance. Other hints could help even those of us who can’t find affordable health insurance. A study done by the Kaiser Family Foundation found that the cost of annual premiums for employer sponsored health insurance has increased by 9% from 2010 to 2011. Health insurance now costs around $4,129 a year for families, and about $921 for individuals. Since you … Continue reading →

Workers Comp Refuses to Cover Medical Bills From Tornado

Workers Compensation is designed to cover the cost of medical treatment that a person requires after becoming injured while on the job. An insurer in Missouri is refusing to cover the medical bills of a social worker who was injured by a tornado while doing his job. This leaves the worker with $2.5 million in medical bills. No one becomes a social worker “for the money”. This line of work often includes low pay, long hours, and high levels of stress. The people who choose a career as a social worker are doing it because they truly want to make … Continue reading →

Having a “Medical Home” Can Save You Money

A study suggests that having a “medical home” can help parents of children who have special needs to save some money on medical bills. It seems to work because it organizes the care that a child needs into one location. When you hear the phrase “medical home”, it conjures up images of hospital-like group home situations. There are many parents who are going to dislike the idea of sending their child who has special needs off to one of these types of places, (even if they thought it would help to cut down on medical expenses). However, “medical home” actually … Continue reading →

Can You Afford to Save?

Financial experts, from Suze Orman to Maria Bartiromo often suggest putting away a set amount of cash each month to cover emergencies. The advice looks great on paper, but when you’re pinching pennies saving money can be next to impossible. After all, how can you save what you don’t have? According to experts, in cases where your budget is stretched to the limit, you should still put aside a few dollars per month. Even if you are only able to sock away $250 to $500 in a year’s time that money can help offset unexpected expenses, such as vehicle repairs … Continue reading →

Saving Money on Groceries with Coupons

While many of our goals for the New Year have to do with health, another top resolution that is made is concerning finances. As a mom with children in middle and high school, I know that saving money is important. It will be just another year and a half before my first one is in college and I would really love to help contribute. Sometimes it’s the small things that make the most difference. When you cut corners in small ways it can add up. It’s just hard to see the big picture when you are making small changes. I … Continue reading →

Radical Money Idea: Spend Less Than You Earn

Imagine that it is a long, long time ago. Let’s roll the clock back to the early part of the last century. At that time, material wealth wasn’t nearly as great as it is today. There simply was not as much stuff available as there is now. Yet people did well. In fact, they saved a large portion of their income for a rainy day, anywhere from 10 to 20 percent of that income. They knew that they had to make it on their own, with perhaps a little bit of help from the community. That made this rainy day … Continue reading →

Medical Bills and Bankruptcies

Posted on by

A recent study funded by the Robert Wood Johnson Foundation took a look at the connection between medical bills and bankruptcies in the United States. The results at a glance: More than 62 percent of bankruptcies in 2007 were related to medical bills. This is an increase of approximately fifty percent since 2001. More than three-quarters of families who declared bankruptcy due to medical bills DID HAVE health insurance but were still overwhelmed by medical debt. More than ninety percent of people with medical debt owed more than five thousand dollars. In many cases, the amount of medical debt was … Continue reading →

Save Your Paperwork

Paperwork is critical. It is an ideal way to keep track and also hold record of all your transactions. When money is involved, be sure to keep all the paperwork. Start by investing in a filing cabinet. This small expense will save you both time and money. Create a filing system that works for you – ideally with folders and easily identifiable categories. A sampling of the kind of items you should save: *Receipts *Warranties *Invoices *Bank statements *Tax forms *Credit card bills *Insurance policies *Copies of your will *Medical information Now, you may wonder really how important this really … Continue reading →

Save Money on Health Costs

Posted on by

Medical bills are ruining most of our budgets. From the rising cost of health insurance to larger co-payments and prescription costs, the average family is treading water. Certainly healthcare is one of the most important investments, but how do we handle the increasing expenses? Probably the most important consideration is to follow the rules. Whether it is your doctor’s orders or your healthcare plan’s restrictions, it is critical to saving money. For example, I had a friend who had an infection. She went to the doctor who prescribed her an antibiotic and told her to stay on it until the … Continue reading →