Health insurance with low-cost premiums can help us cope with rapidly escalating monthly rates. Such high-deductible health insurance plans can be combined with a Health Savings Account (HSA) to increase your savings. Along with tax-free interest, and tax deductions for health-related expenses, a HSA from a large independent firm can offer other discounts.
Larger companies have enough clients to wield negotiating power, and bargain for lower fees for health-related services. With a large share of the market, agencies can offer discounts for medical costs that have big markups, such as lab fees and prescription drugs. These discount cards, and other ways to save, are available on the Internet.
Discounts on Lab Fees
Services are available that allow you to order lab tests, such as blood work and CAT scans online, and go to participating labs to have the tests run with a 48-hour turnaround. Major health insurance providers are offering substantial discounts on the price of lab tests and prescription drugs.
Prescription Drug Discounts
With a wide variation in prescription medication pricing, you can save a lot just by comparison shopping. You can also take advantage of Prescription Drug Discount Cards through larger health insurance firms. Many of these discount cards can provide substantial savings at a wide range of large-chain pharmacies across the country.
Special Retail Discounts for Health Savings Account Owners
A large market share also allows big health insurance agencies to strike bargains with common retailers, such Barnes & Noble, Netflix, Starbucks, Target, and other chains. HSA owners can earn rewards where up to 25 percent of your qualifying purchases accumulate, and transfer into your HSA.
Bill Negotiation Lowers Fees for HSA Owners
One of your biggest opportunities to save can come through no-cost bill negotiation services. Large employers and insurance companies routinely negotiate with doctors and hospitals to get much lower prices than the general public does.
With a large presence in the marketplace, independent health insurance firms offer the same service to HSA owners, risk free. Before paying a medical bill, you can submit your bill to a negotiation service. If they can negotiate a reduced bill, you keep 70 percent of the savings! If they can't, you pay them nothing. In other words, you have nothing to lose, and 70 percent of big bills to gain.
Online and Telephone Physician Consultations for HSA Owners
When you're saving with high-deductible health insurance, you pay for your small costs, including doctor office visits. To save on these, you can take advantage of special arrangements for real-time access to licensed physicians by phone, or through email. By using these free consultation services, at least you'll be sure when you really need to pay to see a doctor.
Combined Savings Add up for HSA Owners
When you save on doctor office visits, lab fees, and prescription costs, your savings can add up quickly. Plus, you'll be saving with lower monthly premiums from your high-deductible health insurance plan while your HSA earns interest tax-free.
With such attractive features, Health Savings Accounts are growing in popularity, and can provide greater control over your healthcare dollars. When you become a member of a provider with a large share of the market, you can enjoy substantial discounts and benefits that are rarely available to individuals without health insurance through an employer. With the out-of-control pricing for healthcare today, it's important to take advantage of all the savings that are available.
Author Resource:-
By Wiley Long - President, HSA for America - The nation's leading independent health insurance agency specializing in individual and family HSA plans that work with a Health Savings Account.
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