Five Ways To Save Now On Healthcare

Forget Waiting For Washington To Act On Reform Measures; Money Magazine's Amanda Gengler Offers Tips

(CBS)  The cost of healthcare is rising every year, more quickly than the pace of inflation and increases in most consumer goods.

Unlike televisions or cereal, we rarely shop around or look for a good deal.

But on "The Early Show Saturday Edition," Money magazine's Amanda Gengler shared five tips to cut your healthcare costs immediately - even before Washington moves on healthcare reform legislation - if it even does move.

The pointers could make you a better consumer of healthcare without compromising its quality for you or your family.

Gengler observed that everything from drug prices to hospital costs is climbing. On top of that, employers are desperate to control costs, so they're pushing more of the bills onto workers, often in less than obvious ways. There might be a co-pay where there wasn't one before. So we're paying for more of our care.

Bargain with your doctor

Most of us aren't yet used to the idea of talking money with the doctor. But in today's healthcare world it is becoming ever so important. To feel more comfortable doing it, recognize that talking money is nothing new. The uninsured do it all the time, but most insured consumers don't realize they can negotiate as well. And understand that doctors know that you want to discuss cost, and they would rather have the conversation with you than you not follow your treatment plan because it is too pricey.

So what should you ask your doctor? Inquire if you can get a discount if you pay upfront. Or if you go out-of-network ask for the in-network rate. And if you cannot immediately cover a big bill, don't swipe your credit card. Doctors and hospitals will often work out a payment plan with you- without charging you interest.

A pretty hefty chunk of your medical bill is prescriptions. What can we do about that?

First, find out if your insurer has a mail order program. You can often order medications that you regularly take, such as those for high cholesterol or blood pressure, at significant discounts, say 15 to 35% off. Since the average American spends about $500 a year on drugs, this can save you about $150. Also, be sure to ask your doctor if there is a generic that will work just as effectively. If so, check on the website of one of the big box chain stores such as Wal-mart or Target to see if the drug is included in their discount generic prescription programs, often $4 for a 30-day supply.

If you're not very sick but need help there are alternatives?

By not really sick I mean if you have a simple ailment, such as pink eye, or an ear infection. So something very basic where you are pretty certain you know what it is. If you come down with one of these problems, it can often be hard to get a same day appointment with your doctor. Or what if you wake up on Saturday with an infection? Today there are some more convenient and often cheaper alternatives to the doctor's office, or the emergency room. First, workplace clinics are making a comeback. They're usually staffed with nurse practitioners and you can swing by at lunch and get care. Maybe a strep test or a flu shot. Another option for basic problems are retail clinics, which are popping up in chain stores and pharmacies. Prices are posted on the walls, usually about $50 to $75, and most now accept insurance. You don't need an appointment, you can simply walk in. Finally, there are urgent clinics. They're a step above retail clincs, but a step down from ERs. You can see a doctor, and they're great for accidents such as a deep cut that requires stitches. But if you're experiencing something more serious, like shortness of breath, or you're not sure what is wrong, drive straight to the ER.

Even if you're not sick can you still save money?

Wellness is a hot topic in the workplace today. Basically, employers want you to get healthy, in hopes that it will help control their rising health care costs. So they are offering wellness programs, for instance, help with losing weight or quitting smoking. And many companies are paying workers, perhaps $100 cash, for participating. Or they may charge you a lower monthly premium. In a few companies, you'll actually pay more if you have unhealthy behaviors, such as smoking and many more say they are considering it for the future.

Americans can save for a rainy day and they don't. And the return they are missing out on is big

The Flexible Spending Account has been around for years, but few eligible workers actually enroll in it. An FSA is an account that you can sign up for through your employer and set aside money- without paying taxes on the funds- for health care costs, such as co-pays, deductibles, even things like glasses and Tylenol. So if you deposit $1,000, and are in the 28% tax bracket, you'll save about $350 a year. The catch is that you have to spend the money by the end of the year or the first few months of the following year, so make a good estimate of your costs for the year.

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For much more on this from Gengler, click here.