How to lower your medical expenses

There are no free medicines. At some point, unfortunately, we will all need medical treatment. Whether you have simple colds or serious illnesses, these things would hurt us and burn our pockets.

According to a recent study, Americans spend more on medical expenses than any other nationality in the world. The higher the prices and the heavier the life, the more you benefit from saving money on your medical expenses.

Here are some practical tips on how to lower your medical costs:

Take care of your health in time

Prevention is always better than cure. Being fit and healthy seems to be a 21st century fad and it would not hurt us to join the train.

An analysis of the “National Medical Expenditures Survey” back in 1987 showed that people who are more active spend less on medical expenses than those who live a lethargic life. The analysis revealed a benefit of $ 330 in physical activity (worth more than $ 2,000 today) per person.

For smokers and drinkers, reducing cigarette and alcohol consumption is an option. They not only lower the future medical costs, but also the direct costs of purchasing these products.

Buy generic drugs

Taking generics is the way to go. Patents are used by manufacturers to set a price to cover their costs in the development of their products. However, these patents are not valid forever. Sooner or later, generic versions of these drugs will be available. Generics are basically the same in terms of ingredients and quality as branded products, just a lot cheaper.

So, if you buy drugs generically, you can save a lot of money. According to the Association of Chain Drug Stores, generics cost $ 24 on average in 2004, while the average price of branded products is $ 96. So you can save a good 2 thirds, today even more.

Talk to your doctor in detail

Take time to talk to your doctor about it, as it can save you a lot of money. Do not hesitate to ask him for possible alternatives. Ask him if there is a generic medicine you can take if he prescribes a branded drug. If you have to undergo surgery, you should set an exact date to avoid overcrowding in the hospital. And most important, do what you’re told: if your doctor asks you to renounce your vice, stop it. When he tells you to be active,  do it for the sake of your health!

Medical expenses can really dig a hole in your pocket. Try to be wise in your medical transactions and, more importantly, always look after your health.

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