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It's no secret that healthcare costs in the US keep on rising with every passing year - just like all prices on everything keep on going up. There is no reason to expect the year 2020 to be any different in this respect.
But there are ways you can prepare yourself for the upcoming health expenses so you can spend as little as possible while still getting high-quality care. Here are 4 of the best ways to get ready.
1. Enroll In An Ideal Health Insurance Plan
The number one way to save on healthcare costs in 2020 is to go into the new year with a health insurance plan ideally suited to your needs. Remember that overwhelming medical debt is the number one cause of bankruptcy today and that a third of US adults are starting the year a bit worried about how they will pay for healthcare expenses.
Talk to an experienced health insurance agent or broker today to help you identify a plan that provides adequate coverage at an affordable rate. Delaying only makes the problem worse - and even if you missed open enrollment, a good short-term plan may be available.
2. Establish An Emergency Fund Savings Account
Even with good health insurance, there are going to be some out of pocket expenses. You want to be prepared for them.
That may mean simply setting money aside in an emergency fund. Or, it could mean using a health savings account (HSA) available through your employer.
One thing is for sure. You don't want to immediately have to resort to credit cards or to raiding your regular savings account every time a health issue arises. Saving ahead can help you not have to.
3. Resolve To Lead A Healthy Lifestyle This Year
Of all great ideas for a new year's resolution, resolving to lead a healthier lifestyle this year surely tops the list.
This will mean eating right day to day, not just on special "diets," doing your best to get sufficient, regular sleep, and throwing in at least a short exercise time once a day. How we live has a huge impact on our health and our healthcare expenses.
4. Take Preventative Care Seriously
Another key to reducing health-related expenses is to invest in some preventative care. "It takes money to save money," even when it comes to medical costs.
An annual wellness exam, seeing the doctor when symptoms first begin instead of when an illness reaches the intolerable point, and getting screened for cancer, heart disease, and other catastrophic illnesses are examples of preventative care. Regular dental and vision exams are another good example.
That healthcare costs will continue to rise in 2020 is a virtual given, but you don't have to just "take in on the chin." By preparing ahead of time and taking the right steps, you can minimize your out of pocket expenses. To get in touch with a health insurance agent and start saving today, contact Summerlin Benefits Consulting!