Senior Living News

1. Understand Your Coverage

Medicare is often what older adults use as health care coverage, but some people can continue their health insurance through their former employers or buy insurance on their own. No matter how you're covered, review your health insurance to understand the coverage. Look at the deductible, co-pays, coinsurance amounts and out-of-pocket maximum to understand what you're responsible for paying. Determine if you need to get preauthorization for certain services.

Check in-network and out-of-network providers. You'll pay the least when you go to in-network medical providers. Co-pays and coinsurance are usually higher if the provider isn't in the network.

2. Keep Up With Preventive Care

When you're trying to save money on medical care, it might be tempting to skip routine doctor's visits. However, you could cost yourself more in the long run by avoiding preventive care. Routine physicals help your doctor monitor your health and spot subtle changes that could indicate a health problem. They can also diagnose conditions early when they're more treatable. Always mention any new symptoms or concerns you have during your preventive care appointments.

It's also important to keep up with your dental health as you age. Good oral hygiene keeps potentially dangerous bacteria under control. Checkups also help your dentist detect decay, gum disease and oral cancer early to keep it from getting worse.

3. Take Care of Chronic Conditions

It's equally essential to manage any conditions you've been diagnosed with. Attend all recommended medical appointments, whether with your primary care physician or a specialist, to help monitor the condition. Follow the treatment plan those care providers give you to help keep your symptoms under control and keep the condition from progressing. It's often cheaper over time to take medications, do therapy and complete other treatment options than to treat complications that arise without those treatments.

4. Protect Your Health and Safety

Improving your overall health and habits can lower your medical costs. Healthy habits such as eating a balanced diet, staying hydrated and moving your body regularly can reduce the risk of some diseases. They keep your body stronger and better able to fight off germs to avoid getting sick.

Fall prevention is another important consideration as you get older. Clear your home of tripping hazards, such as slippery area rugs, cords crossing walkways, dim lighting and clutter. Installing grab bars and other supports throughout your home can help keep you stable. Working on your balance and flexibility can also help you avoid falls. If your mobility decreases, use mobility devices, such as canes and walkers, to support you as you move around.

5. Control Medication Costs

Prescription medications can take up a large amount of your medical budget. There are ways to lower those costs, including:

• Choosing generic medications
• Asking your doctor if a cheaper option is available
• Checking the price at different pharmacies
• Using mail-order prescription services
• Getting a 90-day prescription if possible
• Joining a prescription discount program
• Asking your doctor for samples
• Using patient assistance programs if you're eligible
• Using coupons or discount offers from the manufacturer

6. Budget for Medical Expenses

Budgeting for medical expenses might not lower your bills, but it can make them easier to pay. Having a detailed budget can help you handle debt and stay financially fit when you're on a fixed income. Include a section in your budget for medical bills. Set that money aside each month to build savings for doctor's visits. If you know you'll have upcoming medical needs, you might put extra money aside to prepare.

7. Review Your Bills Before Paying Them

Don't assume your medical bills are accurate. Review the detailed bills to make sure everything looks correct. Verify that the insurance was applied. If your insurance company denies a claim but you think it should be covered, dispute the denial. You might get the insurer to change its mind and pay for some or all of the bill.

8. Watch Your Deductible and Out-of-Pocket Expenses

When you reach your deductible, your portion of the medical expenses typically decreases. After you reach your out-of-pocket maximum, all additional expenses are covered at no charge to you. Know when you reach those milestones. If you have any medical procedures you've been putting off, scheduling them before the end of the year could save you money.

9. Know Your Medical Needs

Knowing which type of care you need could help you save money. For minor health issues that can't wait, an urgent care visit could be sufficient. Urgent care is generally cheaper than the emergency room. However, some serious conditions require an ER visit. Don't skip the ER for life-threatening situations, even if it means higher medical bills. Evaluate the severity of your situation to decide if urgent care will work or if you need the ER.

10. Consider Senior Living

Choosing an independent living community like LifeStream at Sun City could help you stay healthier and safer. The maintenance-free lifestyle means you don't have to worry about chores like cleaning your gutters or repairing your home. That, in turn, could keep you from having injuries that require medical attention.