Today’s personal finance tips talks about different ways to reduce your medical bills.

I had the pleasure of writing an article for a retirement blog last week and thought of summarizing the post content here to help spread awareness of the subject. I wrote about 6 practical and effective ways to reduce one’s medical and healthcare bills. Here’s the summary.

Medical care is expensive in most developed countries and that can be troubling for retirees. We may save as much money as possible up until our retirement, but sometimes that’s not enough, which is why we share 6 practical ideas for reducing your healthcare costs over the years. Remember to ask your doctor before following these tips, because this article should not be considered medical advice.

1. Good hygiene and a healthy lifestyle can cut your medical costs in the long run

This is simply common sense so I won’t delve into it much. Stay active, eat healthy food and keep yourself clean, by regularly washing your hands and bathing.

2. Allergy-proof home to reduce allergy related medical costs

As per the Eurostat website one of the leading causes of diseases across the European Union is respiratory diseases, and high levels of outdoor and indoor pollution are to blame for that. We can control the amount of indoor respiratory irritants, such as mold, pet dander and dust, by keeping our home clean by:

  • Ensuring proper ventilation of all rooms to prevent dampness,
  • Wiping dust off different surfaces of our room,
  • Keeping pets out if you are allergic to them.

3. Preventative medicines and screening tests cut your long term medical expenses

We’re lucky to live at a time when we can prevent a wide range of deadly diseases and determine the risk of developing health conditions. Vaccines can help us prevent the onset of different diseases such as measles, chickenpox, tuberculosis, and so on. Similarly, different screening tests can pick up a variety of health conditions, such as cancer, cardiac issues, osteoporosis, at early stages of progression, which makes the treatment shorter, cheaper and more effective.

4. Medical tourism can save you plenty of money

Medical tourism is the idea of seeking healthcare services in a city or country other than your own. The motivating factor is usually cost because healthcare in the United States is rather expensive, and patients can get similar levels of medical services in other countries for a fraction of the cost, even when the transport costs have been considered. We’ve covered this concept on this blog previously in a detailed interview so be sure to check it out if you’re interested.

5. Effectively use your insurance policy to save money

If you have an insurance policy, make sure you fully understand it’s terms so you don’t miss out on any privileges being offered. Collect all your receipts for reimbursement on time and avail any payouts and discounts you may be entitled to.

6. Generic medicines are cheaper and as effective as branded ones

According to the FDA, generic drugs are as effective and safe as their branded counter parts because they pass the same strict approval process that branded drugs face. These types of drugs can save you substantial sums of money in the long run because they are sold at a discount compared to branded drugs. Consider asking your doctor about generic alternatives to your current branded medicines.

What other ways can you think of to limit your medical expenses?

This article is not intended to be a replacement for professional medical advice. Please consult your doctor before adopting any of these cost cutting tips.

Do you have any other money tips for lowering medical expenses? Please share them below.