Many people find that the cost of healthcare is becoming less and less affordable, particularly for mental health and alternative healthcare options. Here are some ideas for less expensive resources, savings opportunities, money available to you, and ways to create some room in your budget:
- Health Savings Account (HSA) – Insurance plans that have these savings accounts typically have lower monthly premiums and higher deductibles. These accounts let you set aside money on a pre-tax basis to pay for qualified medical expenses, which are things like deductibles, copayments, coinsurance, etc. By using pre-tax dollars you may be able to lower your overall health costs.
- Employee Assistance Programs (EAP) – Check with your employer to see if they have an employee assistance program. These programs are designed to assist employees in resolving challenges in their personal and/or professional lives that may be adversely impacting their job performance, health, and mental and emotional well-being. Programs typically offer a range of negotiated discounts for things like gym memberships, local attractions, car rentals, and more. Additionally, they provide access to legal and financial counseling, physical and mental health resources, career coaching, and more.
- Review your recurring subscriptions – Regularly checking your account statements for recurring charges and asking yourself if you are getting the value out of the dollars you are spending. Put a reminder on your calendar every quarter to do this review. In this digital age, it is easy for these charges to sneak in and stay longer than they are useful for.
- Digital Apps – Mental health is one area that people find either inaccessible or too expensive. There are many apps that offer support and are either free or have a low cost per month. Here are a few:
- HeadHelp
- Calm
- HeadSpace
- BetterHelp – BetterHelp is changing the way people get help with facing life’s challenges by providing convenient, discreet and affordable access to a licensed therapist. BetterHelp makes professional therapy available anytime, anywhere, through a computer, tablet or smartphone, which can save you time and money. Their pricing options are typically comparable with the co-pays of most insurance plans.
- GoodRx – Prescription costs are negotiated on many different levels- manufacturer, insurance, pharmacy, etc. Download the App “Good Rx” onto your phone and next time you fill a prescription see if there is a coupon for your prescription. It is free and often there are prices better than you have ever experienced. Do this on one-time prescriptions and recurring prescriptions every time you fill them.
- Assess your healthcare spending – If the dollars you are spending don’t make you feel better emotionally or physically, or the professional does not feel like the right fit- simply stop. Many times, we feel too intimidated to switch doctors or therapists and we continue to spend money on sessions that are not actually helping. Trust your instinct and move on. It is tough to think about getting a new provider up to speed on your history, but a good provider will usually do this in an expeditious and conscientious way that should make you feel heard and supported.
Sending financially savvy, healthy vibes to everyone!
