5 Simple Ways That Can Help You Save Money on Healthcare Plans

Bajaj Finserv Health
April 25th, 2022
8 mins read

Key Takeaways

  • Health plans help you deal with medical inflation and protect your finances
  • Proper planning and healthy habits can help you save money on health plans
  • Availing the various benefits of healthcare plans can also help you save money

Health insurance plans have become the need of the hour, particularly in lieu of the rapidly-rising healthcare costs. Health insurance plans are extremely useful in beating medical treatment inflation. With best healthcare plans, you can  

  • Avail preventive healthcare facilities 
  • Get cover for your family members 
  • Protect your savings during planned or unplanned healthcare expenses

Despite its numerous benefits, around 40 crore Indians, 30% of the population, have no health insurance [1]. Apart from lack of awareness and other reasons, affordability is also a key factor for not buying health plans. But, note that you can save money on healthcare plans with proper planning and resources. Read on to know 5 simple tips that can help you save on healthcare plans.

Save Money on Healthcare Plans

Plan ahead for emergency and future needs 

When an injury or illness occurs, you need to make some quick decisions. One of these would be to decide on which hospital you should go to. This is important because your health plan provider may also offer cashless benefits and directly settle the bill with the hospital. But this benefit is only available if your treatment takes place at a network hospital of your insurer. So if you know which network hospitals of your insurer are nearby, you can get treatment without worrying about financing it. Usually, your insurance provider gives you the list of network hospitals when you purchase a health plan. In case of any confusion, you can also contact your insurance provider to know about the network hospitals in your area.

Moreover, while selecting a healthcare plan, you should take into account the future health needs. Make sure you review your health needs even while renewing your policy. This way, you can get a plan that is best for you, and avoid high out-of-pocket expenses that may occur due to medical inflation.

Additional Read: Review Medical Insurance Every Year!

Tips to save money in Healthcare plans

Use your health plan benefits 

With every health plan comes a few benefits. Make sure that you use them to your advantage. Some of these additional benefits may include: 

Routine health check-up 

Get routine health screenings as these tests help identify problems in the primary stages. Early detection can help you prevent or treat the illness with more ease. Often you do not have to pay for vaccines, annual wellness visits or any health screenings 

Prenatal care 

You may get this benefit as an add on or as a part of your healthcare plan. Opt for it during or before pregnancy to safeguard your and your baby’s health

Health advocate 

Health plans offer you a health advocate or a case manager. You can contact this person to understand your health card and its benefit. This will help to make the most of your plan

health plan benefits 

Extra healthcare services 

Know the extra services offered in your health plan and use them in the best way possible

Cut costs on your medicine  

Cutting your medicine costs can help you indirectly save on your healthcare plans. Getting reimbursement for buying expensive medicines may in turn reduce your cover amount. Insufficient cover at the time of treatment can lead you to buy a top-up plan or do high out-of-pocket expenses. There are a few methods which can help cut cost of your medicines. 

  • You can request your healthcare provider to prescribe you generic medicines that have the same active ingredients as branded drugs, but cost less  
  • You can opt for less expensive options on medicines that treat the same conditions 
  • Try to use an app to order your medicine, there are likely to be schemes and offers that can get you a discount 
  • Take your medicines as directed; do not buy any extra medications

Use employer’s insurance 

One of the best ways to save your cost of health insurance is to use the one provided by your employer. Some companies may also offer health insurance which covers the dependents of the employee like spouse, parents, or children. The insurance provided by employers are usually group health insurance. Because of this, the premium that you pay here is comparatively less. This way, you can keep your and your family’s health insured.

Keep in mind that you can port your group health plan to an individual or family floater plan at the time of leaving your current organization [2].

Additional Read: Health Insurance to an Individual Health Plan

Follow healthy habits 

The simplest way to your medical costs is to remain healthy. You can take measures to maintain a healthy weight, eat nutritious food and get regular exercise. This can help you avoid costly treatments and tests.

Apart from these, the type of health plan you need is vastly dependent on your health. You are less likely to need to a high cover or specific cover if you follow a healthy lifestyle. Moreover, you may also need to pay a high premium if you have unhealthy habits like smoking or drinking too much. Abstaining from these can also help you save on healthcare plans.

Healthcare plans are essential but it is important to make a wise choice. Follow these tips to save money on healthcare for your future. Check out the Aarogya Care plans available on Bajaj Finserv Health. The Health Protect Plans and Super top-up can help you get comprehensive cover at an affordable price. These plans also come with additional benefits like lab test reimbursement and network discounts that can help you save more. Choose from health plans that are tailor-made for your health needs and secure your and your family’s health with ease.

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