Five Painless Tips to Save Money on Medical Costs

by Hank Coleman

Rising costs of healthcareMoney is tight now as everyone knows it. And, with rising health care costs, it is sometimes complicated to find ways to cut back especially on necessities such as healthcare costs. But, here are five tips for spending less and learning how to save money on medical costs and expenses.

How To Save Money On Medical Costs

1. Go Generic With Medication

Ask your health care provider if your medications are essential. Are there other alternatives to try out before prescriptions?

If it is important to have the drug, ask if there exists a generic version of the drug available and if there are any reasons why the generic variation would be inappropriate for you. Frequently medicines that come off patent can cost nearly 90% less than their brand name counterparts.

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2. Try Out Coupon Websites
If you cannot acquire generic, try to find medication coupons. The AARP advises looking for online coupons for prescriptions, especially for non-generic medications. Two great websites for medical coupons are and

3. Exercise Your Own Prevention Practices
Experts suggest simple steps to preventing medical issues before they become a problem by doing things such as eating a well-balanced diet and exercising. These tactics can mean major financial savings in medical care expenses. Consider maintaining a healthy weight and going to the medical doctor routinely for checkups in order to prevent larger medical costs.

4. Negotiate Your Medical Costs
You can save money on medical costs by negotiating. It can be simple to negotiate medical expenses. Generally, doctors and other healthcare providers are willing to lower their standard fees for patients with limited incomes or special financial circumstance.

This holds true especially for men and women without medical insurance, or for services not covered by health insurance. But, it is your decision to start the dialogue with your doctor.

5. Check Your Medical Bills
Always take a look at your medical bills and insurance coverage before and after a visit to the physician. Look for anything incorrect or suspicious. If you discover an oversight, call your health care provider immediately for corrections.

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About Hank Coleman

Hank Coleman is the founder of Money Q&A, an Iraq combat veteran, a Dr. Pepper addict, and a self-proclaimed investing junkie. He has written extensively for many nationally known financial websites and publications. Hank holds a Master’s Degree in Finance and a graduate certificate in personal financial planning. Email him directly at Hank[at]

Hank Coleman has written 591 articles on Money Q&A. Learn more about Money Q&A on Twitter @MoneyQandA and @HankColeman.

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{ 4 comments… read them below or add one }

Kevin@ Ask for Benefits

Utilize your flexible spending account for any predictable medical expenses. Prescription drugs are often prescribed for chronic conditions making them an ideal use of an FSA.

Using pretax dollars saves more money than most people expect.


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