Thousands of families have cut their medical costs thanks in large part to healthcare economist Bethany Sanders, without compromising treatment. “Most people can greatly lower what they pay out-of-pocket with some strategic planning and system knowledge,” Bethany says. She uses these most successful techniques:
First, start to make educated healthcare decisions. “Prices for the same procedure might vary by thousands of dollars inside the same zip code,” Bethany says. She advises comparing expenses at several facilities using pricing transparency tools now mandated by legislation. Through their member sites, several insurance companies also provide these comparing tools.
Another important factor is timing. “If you have a high-deductible plan, try to schedule elective procedures early in the year after you’ve met your deductible,” Bethany says. This strategy optimizes your insurance for the rest of the year.
Bethany’s other key tips include:
- Always review medical bills for errors (up to 80% contain mistakes)
- Ask about cash-pay discounts (often 20-40% lower than insured rates)
- Consider Health Savings Accounts for tax advantages
- Negotiate payment plans for large bills (most providers offer interest-free options)
- Explore patient assistance programs for expensive medications
One of the finest investments, Bethany notes, is “preventive care.” “Regular check-ups and tests help to catch problems early on, so avoiding later expensive treatments.” She underlines that proactive health management, knowing your insurance benefits, and not hesitate to ask questions can result in significant savings.
