6 Mistakes You're Making When Spending On Your Health

Asia's Tech News Daily

Even if you consider yourself to be thrifty regarding most types of shopping, spending on your health isn’t always so straightforward. Should you opt for the low-premium or the low-deductible health plan? Should you schedule a checkup now or wait until you’ve got a health question for your doctor? It’s a lot to figure out.

6 Mistakes You're Making When Spending On Your Health
© Provided by Health Getty Images

“In many countries, such as the United States where there is no single-payer or universal care system, individuals have to understand that health-related decisions and strategies are closely tied to financial outlook,” says Jagdish Khubchandani, PhD, a professor of public health at New Mexico State University. “And knowledge of both is a must and should complement each other.” 

6 Mistakes You're Making When Spending On Your Health
© Getty Images Your health is one of your most important investments, but you don’t have to drop lots of dollars to reap wellness rewards.

Wellness and money experts tell us the biggest financial mistakes they see people make when it comes to spending—and saving—on their health. 

RELATED: Best Medicare Advantage Plans 2021

Skipping out on health plan wellness programs 

“There is a growing number of insurance companies that provide premium discounts and other perks for enrolling and participating in their wellness programs,” says Karen Condor, a health insurance expert with Clearsurance. Wellness program participation might provide discounts on gym memberships, fitness gear, or equipment. Or you could even receive money to use toward out-of-pocket expenses, Condor explains.

Not comparing all factors of a health plan

“It is advisable to compare prices, features, coverage, deductibles, prescription benefits, and provider networks to enable you to identify the most affordable health care plan available,” says Daniel Boyer, MD, of Farr Institute.

When shopping for a health insurance plan, either through the Marketplace or choosing a tier on your employer-sponsored benefits, you might become hyper focused on choosing a plan with the lowest premium. But often lower premiums equal higher deductibles and vice versa. A lower premium will mean you’ll have a lower monthly fee for your health insurance. But the higher deductible will mean you’ll be paying more out of pocket for services each year. 

A high deductible health plan can be a financial drain on people with preexisting conditions who need to see their doctors more often. But if you’re relatively healthy, the lower premium option might be the better choice.

RELATED: 23 Health Insurance Terms You Should Know

Spending money on supplements or fads

“Many people are jumping on board to buy expensive products that they may not need,” says Meg Mill, PharmD, a functional medicine health consultant. “For example, I have seen patients claiming to do a monthly parasite cleanse without knowing if they even have a parasite. Not only is this expensive, it can also put undue stress on your body.” 

Focus on diet as a source of nutrients, rather than supplements, adds Jinan Banna, PhD, a registered dietitian and professor of nutrition. “Supplements should be used when the diet is not adequate to meet needs and shouldn’t be the primary source of nutrition,” she explains. When in doubt, consult your healthcare provider about whether you have nutrient deficiencies or special dietary needs and how to address them. 

Only going to the doctor when you are sick

“Not seeking preventive care or screenings and rushing to the ER when a problem occurs is expensive for health systems, individuals, and families,” Khubchandani says. Get established with a primary care physician (PCP) if possible and obtain all routine screenings, such as annual physicals. 

You should go to the emergency room if you are experiencing an emergency, of course. But a PCP should act as your general health home. Your provider should maintain a detailed record of your medical history and help you navigate health issues if they crop up. That may mean directing you to a trusted specialist if necessary. 

PCP (and other provider) copays are generally cheaper than emergency room copays. And often health plans waive copays for a certain number of PCP visits per year. Plus, under the Affordable Care Act (ACA), all non-grandfathered health plans in the US have to cover preventive care benefits at no cost to you, as long as you’re seen by an in-network provider. That means you won’t pay a deductible, coinsurance, or a copay for many routine screenings with your PCP. And preventive care could save you money down the road.

RELATED: Go to the ER if You Have These Symptoms—Even During the Coronavirus Pandemic

Not accessing free or low-cost services

Even if you don’t have access to a health plan, you can still get preventive care. “For many, the lack of situational awareness or general knowledge about free or inexpensive community-based resources can end up costing out of pocket,” Khubchandani says. 

Federally qualified health centers (FQHCs) receive funds from the Health Resources and Services Administration (HRSA) to deliver primary care to patients on a sliding-fee scale. And other free clinics offer services either pro bono or at a low cost. 

Not utilizing hospital financial assistance programs

Nonprofit hospitals must offer financial assistance programs. These programs provide a discount or even free care based on a sliding scale. “Don’t assume you earn too much to qualify,” says Michael Waterbury, CEO of Goodroot.Depending on the poverty rate in your state and your family size, you can make six figures and still be entitled to a discount of 25% or more. Many people suffering with medical debt were eligible for financial assistance but didn’t know to ask.” Check with the hospital’s financial department before paying your bill, he recommends.

With a little extra legwork on healthcare spending and saving, you can keep your finances—and yourself—in relatively good health. 

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

The best Bed Bath & Beyond Cyber Monday deals start now: Save on iRobot, Shark and more

— Recommendations are independently chosen by Reviewed’s editors. Purchases you make through our links may earn us a commission. Black Friday may be in our rearview mirror, but that doesn’t ... Read more »

Norman Jr. carries W. Michigan over SE Louisiana 81-77 in OT

FORT MYERS, Fla. (AP) — Lamar Norman Jr. had a career-high 31 points as Western Michigan narrowly defeated Southeastern Louisiana 81-77 in overtime on Sunday. Norman made 11 of 20 ... Read more »

We're live tracking the 25 best gifts for women on sale during Cyber Monday 2021: Get up to 50% off AncestryDNA, Revlon and more

— Recommendations are independently chosen by Reviewed’s editors. Purchases you make through our links may earn us a commission. If you’re looking to put a dent in your Christmas shopping ... Read more »

No. 10 Louisville women top CSU 71-56 for 5th straight win

FORT COLLINS, Colo. (AP) — Ahlana Smith and Kianna Smith led hot-shooting No. 10 Louisville with 11 points apiece as the Cardinals won their fifth straight by beating Colorado State ... Read more »

Former Florida U.S. Rep. Carrie Meek dies at 95

1 / 2Obit-Carrie MeekRep. Carrie Meek, D-Fla., smiles as she speaks during services at Mt. Tabor Missionary Baptist Church in Miami, July 7, 2002. Meek, the grandchild of a slave ... Read more »

Pune: Movement of heavy vehicles stopped on various highways from 5 am to 9am

© Provided by The Indian Express FOLLOWING the deadly accident on Pune Mumbai Old Highway in which four women Warkaris were killed and 20 more were injured, the police have ... Read more »

Off-duty officer stabbed, seriously wounded in Paris: French Interior Minister

Off-duty officer stabbed, seriously wounded in Paris: French Interior Minister An off-duty police officer was stabbed and seriously wounded in Paris on Sunday, French Interior Minister Gerald Darmanin said. Darmanin ... Read more »

Govt support & subsidy needed for diabetes patients: CJI Ramana

© Provided by The Times of India NEW DELHI: Chief Justice N V Ramana, a diabetic for 30 years, on Sunday said governments should provide “support and subsidy for diabetic ... Read more »

Max Stryjek fumes at Rangers snowballs as Livingston teammate admits 'I had to hold him back'

Jack Fitzwater reckons mad Max Stryjek lost his cool as he was bombarded with snowballs from the Rangers support. But he has warned Livingston will have to find a way ... Read more »

France rushes to its Caribbean islands as protesters launch backlash over pandemic rules

A French delegation, led by minister for overseas territories Sebastien Lecornu, is making the trip to Guadeloupe amid a dangerous rise in tensions following more than a week of unrest. ... Read more »

Apollo Quiboloy says Omicron variant due to allegations against him

Screencap from Nov. 28, 2021 video Kingdom of Jesus Christ founder Pastor Apollo Quiboloy on Sunday warned the public to stop “persecuting, prosecuting and maligning” him, or suffer more from ... Read more »

BBC Strictly fans swoon as Nikita goes topless - but Tilly's dad Gordon isn't impressed

Nikita Kuzmin left viewers swooning as he went topless on Strictly Come Dancing this weekend. The professional dancer was competing in the dance-off alongside his celebrity partner Tilly Ramsay, when ... Read more »

Findlay, Ohio: When a worker shortage closed her favorite restaurant's dining room, a retiree grabbed an apron to help

When the dining room of an Ohio great-grandmother’s favorite restaurant closed because of staffing shortages, she grabbed an apron without hesitation. © CNN When the dining room of an Ohio ... Read more »

Body of missing 2-year-old girl found in Indiana river

COLUMBUS, Ind. (AP) — A diver on Sunday found the body of a 2-year-old girl reported missing after her father was pulled from his partially submerged truck in a southern ... Read more »

Fournette has 4 TDs to fuel Bucs' 2nd-half rally at Indy

INDIANAPOLIS (AP) — Leonard Fournette capped a four-touchdown game with a 28-yard scoring run with 20 seconds left Sunday, giving Tampa Bay a 38-31 come-from-behind victory at Indianapolis. © Provided ... Read more »

Missing toddler Emma Sweet found dead three miles downstream of her father's pickup truck

The body of a 2-year-old girl who has been missing since last week was found Sunday by the Bartholomew County Water Rescue and Recovery Team, county Sheriff Matt Myers announced. ... Read more »

Covid: Sajid Javid to outline new measures to fight Omicron variant

Covid: Sajid Javid to outline new measures to fight Omicron variant Sajid Javid is expected to announce more details on the measures being brought in after the emergence of the ... Read more »

Dutch police arrest couple that fled COVID quarantine

Dutch health authorities find 61 passengers who arrived from South Africa as COVID-19 positive, in Amsterdam AMSTERDAM (Reuters) – Dutch military police on Sunday said they had arrested a married ... Read more »

Politologe Claude Longchamp zum klaren Abstimmungsresultat: «So gespalten ist die Schweiz nicht»

Politologe Claude Longchamp sagt im Interview, weshalb das Covid-Gesetz derart deutlich angenommen wurde und ob wir uns auf weitere Abstimmungen über das Gesetz einstellen müssen. © Bereitgestellt von Blick «So ... Read more »

Gute Noten für den Lehrer im Zwischenzeugnis

Die Oberländer Handballer siegen auch in St. Gallen. Die beachtliche Entwicklung ist vorab das Verdienst des neuen Trainers Remo Badertscher. © Archivfoto: Markus Grunder Remo Badertscher weist Wacker seit dem ... Read more »

Titans lose 36-13 to Patriots, fumble away AFC's No. 1 seed

Two kicks that clanged off the same upright. A missed tackle that turned a short pass into a 41-yard touchdown. Three fumbles in New England territory, and an interception in ... Read more »

Tze Yong tawan Scotland

© Provided by Sinar Harian PEMAIN badminton perseorangan negara, Ng Tze Yong kembali semula berstatus juara apabila menjuarai kejuaraan Terbuka Scotland. Pemain berusia 21 tahun itu tampil cemerlang setelah mengatasi ... Read more »

Ava White: Boy, 14, charged with murder after girl, 12, was ‘stabbed to death' in Liverpool

A BOY has been charged with murder after a girl was tragically stabbed during a Christmas lights switch-on. The teen boy, 14, was arrested charged after Ava White, 12, suffered “catastrophic” ... Read more »

Christmas survey reveals quarter of Brits will get frisky at work do & Holly Willoughby's top of secret festive crushes

SUN readers know how to have a cracking Christmas – with more than two thirds of you celebrating with a festive fumble beneath the sheets and half receiving saucy stocking ... Read more »

Fauci says lies, threats are 'noise'

President Biden's chief medical adviser, Anthony Fauci, said in an interview broadcast Sunday that lies and threats against him are “noise.” “Anybody who spins lies and threatens and all that ... Read more »

Labour proposes watchdog for ministers' ethics to stop ‘revolving door'

Photograph: Rob Pinney/Getty Images Angela Rayner to set out plan to bar ex-ministers from work connected to government roles for five years Ministers would be barred from lobbying or other ... Read more »

Man brings 3-year-old girl who was shot to Tarrant County Jail; police investigating

Fort Worth police are investigating after a man walked into the Tarrant County Jail lobby Sunday afternoon seeking help for his 3-year-old daughter, who had been shot. The child sustained ... Read more »

Have you seen El Paso's most wanted fugitives for the week of Nov. 28, 2021?

Crime Stoppers of El Paso each week releases photos and descriptions of the most wanted fugitives for the El Paso Police Department and the El Paso County Sheriff’s Office. Anyone ... Read more »

Early Nintendo Switch Cyber Monday deals are live—shop the best sales on consoles and games

— Recommendations are independently chosen by Reviewed’s editors. Purchases you make through our links may earn us a commission. If you’re an avid gamer or looking to try it out, ... Read more »

Manchester City langgar West Ham di Etihad

© Provided by Sinar Harian PENYANDANG juara Manchester City terus memberikan tekanan kepada pendahulu Chelsea, selepas mengatasi West Ham United 2-1 dalam aksi Liga Perdana Inggeris (EPL) di Stadium Etihad. ... Read more »

Berita palsu antara ancaman jayakan pemberian dos penggalak

© Provided by Free Malaysia Today Khairy Jamaluddin berkata, penyebaran berita palsu itu menyebabkan ramai ragu-ragu untuk menghadiri temujanji suntikan dos penggalak seperti ditetapkan. PETALING JAYA: Ancaman paling besar dalam ... Read more »

More WBBL matches could move to primetime as viewership hits new records

© Getty Images More than 15,000 spectators watched the WBBL final © Getty Images A WBBL final which brought a record crowd and record TV ratings could herald a shift ... Read more »

Yami Gautam REVEALS husband Aditya Dhar ‘wanted to return every penny' to Ronnie Screwvala if Uri flopped

© Provided by Pinkvilla Director Aditya Dhar made his debut with Vicky Kaushal-led ‘Uri: The Surgical Strike’. The film ended up raking in the moolah at the box office and ... Read more »

‘It's heartbreaking — people are devastated': OR Tambo airline passengers hard hit by travel ban

‘Nobody told them anything,’ said a security guard. ‘These people didn’t know anything. They just came here to find their flights were cancelled.’ © Copyright (c) Daily Maverick , All ... Read more »

How to get the dwarven horse in The Elder Scrolls V: Skyrim

© Provided by GamePur If you want to get around a bit more quickly in Skyrim, a horse is the only mount available. While the base game only featured normal ... Read more »

Zach Wilson's girlfriend celebrates Jets' win after quarterback's return

The Jets got a win Sunday in Zach Wilson’s return game, and no one was more excited about the victory than the quarterback’s girlfriend, Abbey Gile. Abbey Gile congratulates boyfriend ... Read more »

Out Of All The Plot Twists On Law & Order: SVU, This One Stands Above The Rest

Over the course of its 23 seasons (and counting) run, “Law & Order: Special Victims Unit” has indulged in more than a few memorable and surprising plot twists. There was, ... Read more »

Travis Kelce and girlfriend Kayla Nicole wrap up bye week with Eagles date

Travis Kelce and the Chiefs may have this Sunday off, but the tight end still made his weekend about football. Kelce and girlfriend Kayla Nicole attended Sunday’s Eagles game against ... Read more »

Terrorist who tried to buy gun, missiles, and grenades to shoot down plane starts plumbing firm

A TERRORIST jailed for trying to buy missiles to shoot down planes is now running a plumbing business. But at least one of Kazi Rahman’s businesses has been branded a ... Read more »

Raging rhino rammed its horn into my car at safari park… it was terrifying

A FATHER and son on a trip to a safari park were terrified when their car was smashed by a rhino. Jamie Wood and son Jackson, five, were in a ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic