Purchasing healthcare items can quickly become expensive. Because they are necessary and in high demand, healthcare items often come with high price tags. If you’re looking for ways to save money when purchasing healthcare items, here are a few budget-friendly tips.
1. Use an HSA
A health savings account, also known as an HSA, is a tax-sheltered account where you can put money for healthcare costs. Those who have high-deductible health care plans typically use HSAs to pay for unexpected medical expenses or daily healthcare items. With an HSA, the employee pays money into an account without having to pay taxes on the income. An employer may also contribute to the account or offer a match for contributions.
You can use an HSA for a variety of items. This includes prescriptions and over the counter medications. Other expenses that are covered include special foods for a diet, bandages, gloves, hearing aids and a variety of other items.
If the healthcare item that you need is either prescribed by a doctor, for a direct medical condition, or a general healthcare item, it’s likely to be covered by the HSA. Using the HSA can help reduce the cost of the healthcare item or pay for the item entirely. Because an HSA is a tax-sheltered account, it can be to your advantage to put money for anticipated costs into the account.
2. Check with Insurance
Insurance can also help cover the costs of healthcare items. Although it can be more difficult to get an item covered, insurance is likely to cover costs for larger items that you can’t afford with an HSA. For the best chance of getting items covered, talk to your doctor for proper documentation.
3. Shop Wholesale
For smaller and more common healthcare items, shopping wholesale can help save you a significant amount of money. Wholesale items sometimes come straight from the manufacturer who is able to offer lower prices for the same product.
Wholesale is a great option for those who need multiple numbers of the same type of item. This is because wholesalers typically offer bulk items for a lower price per item. Items like diapers, tampons and band aids can be purchased in bulk to save time and money.
4. Watch for Deals
If all else fails, watching for sales and deals is the best way to get affordable products. Although it may be rare that these products go on sale, manufacturers often offer deep discounts if they made too much of an item. You can also look for coupons, either digitally or in the paper, to save additional money.
If you’re in need of healthcare items, it can lead to high expenses quickly. If you want to save money when purchasing healthcare products, consider checking if they’re items that may be covered by an HSA or insurance. If you’re in need of multiple of the same type of healthcare item, shopping wholesale may offer an affordable solution. You can also watch for deals and sales to get the best prices on healthcare products.