If your goal is to save money this new year, healthcare cost can be one of the ways that bust your budget. Even with insurance, medical bills and expenses can get way out of control. We've researched some of the best ways to keep cost down and that may help you this year and the years after. 

Healthcare Accounts

Healthcare accounts are a great way to manage unexpected medical cost with or without an employer. There are several accounts types of accounts: Flexible Spending Account (FSA), Health Savings Accounts (HSA), and Health Reimbursement Accounts (HRA). Each account has tax-saving benefits and allows money to be set aside for medical expenses that do not have to come out of your monthly budget. See the chart below for the difference between the accounts.  

Coupons for Medications

Going to the pharmacy and filling a prescription and finding out it's going to cost more than your paycheck is never a good feeling. It can seem hopeless at times but many drug companies offer coupons and rebates for medications that can be used to combat the cost of your prescription medications. One website, Needy Meds, offers a long list of prescription medications and any coupons or rebates that may be available. Check out the site and search for your medication for potential savings. 

Ask for a generic medication

Sometimes the best way to lower the cost of a prescription medication is to ask for alternatives from your doctor. Name brand medications often come with name brand prices. Switching to the generic brand of a medication can help reduce the cost and give you the same medication you need. Switiching to gnereic versus a name brand medication does not reduce the effectiveness of the medication. It's like going to the grocery store and getting Frosted Flakes versus Sweetened flake cereal. It takes the same it just doesn't have an orange tiger on the box!

Regular Visit to the Doctor

Many, if not all, insurance plans will fully pay for preventative doctor visit and preventative medications. Making sure to get regular visit to the doctor or nurse practitioner can help save money in the long run. You typically want to do this once a year (unless you have other medical conditions) to check your labs, get an overall picture of your health. Life is busy and it can be hard to make time for appointments that seem useless but always try to make time for your health. That's the longest relationships you will ever have to develop and maintain.

Happy saving and cheers to a healthly new year!