Show notes
We talk through many creative ways you can save on medical expenses:
- Leverage an FSA for any medical expenses if you’re eligible, so you can save pre-tax dollars to cover medical expenses.
- Leverage an HSA or Health Savings Account if you’re on a high-deductible plan.
- Ask if there is a cash rate is for medical services and consider paying cash versus using your insurance.
- Leverage mail-order prescription services.
- Leverage Teladoc services.
- Find out what services cost before you go in for a service; don’t be afraid to ask questions.
- Use GoodRx for their applicable services, and save on prescriptions and doctor’s visits.
- Plan ahead about the timing and spacing of non-time-sensitive medical expenses.
- Check your bills thoroughly to make sure you’re getting charged correctly.
- Research and ask questions on covid-tests, immunizations, and other related services.
- Avoid going to an Urgent Care office unless it’s critical.
- Avoid going to an Emergency Room unless it’s truly an emergency.
- If you’re a part of a blended family, get as many kids as you can on the same medical plan, even if they move across different households between parents.
- Consider a hybrid approach to who’s on what plans across our household.
- Consider not having dental or vision insurance and instead just paying out of pocket as you have needs, or explore signing up for a services plan at your local provider’s office.
Show References:
- 15 ways to save on medical expenses - Mostly minimal life blog
- Goodrx
- Friends on FIRE episode #059 - The amazing tax benefits of FSAs, HSAs, and DCAs
- Friends on FIRE episode #062 - How to choose the right medical insurance at work
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