Can Health Insurance Save You Money?

Health insurance open enrollment season is upon us, which means you’re trying to decide the best health insurance option for your family.

There are definitely cases where health insurance is a necessity, such as if you’re pregnant, diabetic, or suffering from chronic conditions requiring extensive medication or treatments. However, if you’re a healthy adult wondering whether it’s worth the deduction, you might want to consider whether health insurance is right for you. A huge factor to consider is whether or not your insurance plan is actually saving you money.

Is Health Insurance Worth It?

Sky-High Deductibles or Limited Plans

Although there have been efforts to make health insurance more affordable for Americans, many people know that insurance companies have found a way to cope with these efforts. In order to offer “affordable” plans, health insurance providers now attach sky-high deductibles to their options or offer low-deductible plans that come with hidden limitations.

So, you could be paying for health insurance every month, but if you never reach your deductible, you’ll end up paying out of pocket for most of your medical expenses, anyway. Alternatively, you could pay for a low-deductible plan that still comes with plenty of co-pays or fine print. Even if you do reach your deductible amount, you’ll feel the stress and strain on your wallet. In these situations, opting to pay out of pocket for routine medical expenses, like lab testing for health issues, just makes financial sense.

Flex Spending: Do I Need It?

Does your health insurance plan offer a Health Savings Account (HSA) or a Flex Spending Account (FSA)? These plans might seem like a good way to save money and plan ahead for medical costs. However, keep in mind that once you put money in your HSA or FSA, you have to use it or it’s lost forever. You run the risk of wasting your funds. You may be tempted to go to the doctor and pay for services you don’t really need in order to use up the money you’ve set aside. If you opt out of health insurance, you will only pay for the services that are medically necessary, and none of your hard-earned money will go to waste.

Network Issues

Another issue with shopping for health insurance is that a less-costly plan might mean that your favorite doctors are now out-of-network. Eventually, you’ll have to switch to new healthcare providers or pay the fee for out-of-network services. You may also have to deal with higher co-pays that aren’t in the budget. Moving to a new doctor can also come with a whole new set of fees.

Alternatives to Costly Health Insurance

Test Smartly Labs proudly offers a cost-effective alternative to health insurance. We provide affordable elective testing, the same lab tests that are done in your doctor’s office, for a fraction of the price and no insurance needed. To save money on lab testing, call Test Smartly Labs today at (816) 800-9699.


LIKE us on Facebook for special alerts and announcements!

Test Smartly Labs

Test Smartly Labs of Independence 

Test Smartly Labs of Kansas City

Test Smartly Labs of Kansas City North

Test Smartly Labs of Lee’s Summit

Test Smartly Labs of Overland Park

Speak Your Mind