Take these steps to know how much you’re spending on healthcare and find ways to manage your costs. As you get older, these medical expenses can add up even more and require a bit of creativity or know-how to save money while staying healthy.

From doctor’s visits to prescription drugs to copays and premiums, the amount of money you spend on healthcare every year can feel endless.

You can take steps to mind your money and keep tabs on how much you’re spending on healthcare. This may include comparison shopping for supplies and medications, playing detective to find extra savings, and knowing the right questions to ask that might end up saving you money.

Here are 11 ways to keep a little more cash in your pocket.

If your doctor prescribes a drug, ask if there’s a suitable generic alternative.

Not every medication has a lower-cost generic drug available, but many do have that as an alternative.

You may discuss this with your doctor, about possible generics or other lower-cost medication alternatives that could work for you instead of a higher-cost brand name drug.

This 2022 report on drug spending in the United States found that 80% of prescriptions in the country are for generics, but it’s the brand name drugs that account for the most cost.

Research shows that generic drugs can lead to lower prices for the healthcare system and for people’s out-of-pocket expenses, with some Medicare-specific drug plan prices dropping more than 30% of the brandname’s price within just 3 years of being available.

The Food and Drug Adnistration (FDA) also promotes generic drug use, noting that generics may help enable people to have better access to the medications they need and can also empower them to take those medications as prescribed by their physician.

Some generics may cost less than other generics, too. That’s why cost comparisons on generic medications can also save you money.

You may also want to ask if there’s an over-the-counter alternative, especially if it’s a supplement, like a prenatal vitamin or iron pill, or medication for a gastrointestinal problem.

Not everyone can just switch to a generic drug, though, so work with your healthcare team to determine what is best for you.

You may find different discounts and savings opportunities around the healthcare sphere.

This might include discounts or patient assistance programs by a drug manufacturer, or it could include cash payment options from your doctor’s office or clinic.

Some healthcare offices may also be willing to help with discounts on office visit charges or a procedure cost, in certain circumstances.

You can also investigate different credible sites and services for savings, ranging from discount or coupon cards on medications or supplies.

Don’t be afraid to ask and explore what options exist.

Explore Optum Perks for possible discounts on your medications and healthcare costs.

Optum Perks is owned by RVO Health. By clicking on this link, we may receive a commission. Learn more.

This may sound basic, but listening to your doctor and healthcare team is one of the most important steps you can take.

That includes advice on diagnostic tests or procedures, and prescription recommendations on how to take your medications.

Some research indicates that a quarter of peple don’t fill prescriptions that their doctor prescribes, and roughly 30% to 50% of people do not take it as prescribed. Known as “non-adherence,” this can happen for many reasons, and it might range from people never starting or filling a prescription to stopping a medication at some point for any number of reasons.

All of the reasons for non-adherence vary, but the American Medical Association suggests the reasons may include:

  • access concerns
  • too costly
  • not covered by insurance
  • side effects
  • too many medications already
  • a lack of symptoms, which may lead someone to think they don’t need a medication
  • forgetting to take a medication on a certain day or at a specific time
  • empty medications that aren’t refilled

Of course, by not taking a medication or getting a test or procedure as prescribed, you may prolong a health issue and something needing treatment may not be treated. Eventually, this might evolve into more serious complications or health issues.

You may not think twice about filling your prescriptions at the pharmacy down the street, but maybe that’s an option that could save money.

Many people don’t realize, that different pharmacies have different prices for the same medication.

Call around to see what other pharmacies are charging for the same drug. You may end up with some significant savings. This can include different locations or the same pharmacy chain like Walgreens or Rite Aid, and it may also depend on where you live.

Websites like Healthcare Bluebook can also be helpful when trying to find the best healthcare prices.

Has your doctor recommended an MRI or a lab test?

The same rule that applies to pharmacies can also apply to doctor’s offices, clinics and lab facilities.

Before you trek down to the suggested facility or even the convienent location in the same office as your doctor’s office, call a few other testing sites to see what they would charge you for the procedure.

If you take prescription drugs on a regular basis, such as birth control or cholesterol drugs, find out if your health insurance offers a mail-order option.

You’ll typically receive a 90-day supply for much less than you’d pay at the pharmacy.

If you’re taking a brand name drug regularly, check the drug maker’s website to see if they offer a coupon or discount card that will reduce how much you have to pay.

Certain companies that make meciations like Mounjaro or ADHD drugs may offer these programs, known as Patient Assistance Programs (PAPs). These can provide savings on a medication, for a limited period of time or more long-term.

However, PAPs come with fineprint and you have to first determine if you’re eligible for a particular program. This can take time, and you may not always get a discount that you expected. There many also be cost caps or monthly-limits on how much medication you can get filled.

So make sure you do your research, and understand that it could be weeks or longer before you can even begin getting a discount.

Medical bills often contain errors, charging people too much money for services that they didn’t get or many other issues. Doctors offices and labs aren’t expempt from making mistakes.

If you aren’t sure about a particular medical bill or specific costs listed on a statement, call to ask more questions about that statement.

You could end up discovering a medical bill error and saving money as a result.

This 2024 survey research noted that of more than 1,100 people surveyed about billing concerns, nearly 76% of those who contacted the healthcare provider about the issue had a significant correction rate and prices dropped almost 62% of those who negotiated.

Make sure to read and understand your healthcare documentation before you pay a bill. Always question it, and have a basic understanding of why you’re being charged a particular amount for something.

Don’t be afraid to call your doctor or the hospital billing department to clarify a charge, and make sure you’re persistent. Keep track of your communications, including any written or verbal communications, the dates and times, and the person you speak to.

A high-deductible health plan requires you to pay a higher out-of-pocket deductible before your insurance coverage kicks in.

However, monthly premiums are usually much lower than traditional health plans, and if you only see your doctor once or twice a year, you may save money with this option.

Make to understand your own healthcare journey, though.

People who live with chronic conditions, take high-cost medications or need procedures, may not always be best-served by a HDHP. This is because you’ll have to likely pay thousands before full insurance coverage begins, meaning you may be on the hook for a lot more money up front.

It’s worth your time to do the math before you cross it off your list. Just make sure you have the cash on hand to cover the deductible if you do end up needing significant care.

A flexible spending account (FSA) allows you to put aside pretax dollars that you can use toward medical expenses throughout the year.

The pretax deduction lowers your taxable income, reducing the amount you’ll owe when you file your yearly taxes.

If your employer offers an FSA and your healthcare costs are fairly predictable, you should take advantage of it. Just remember that you’ll forfeit any money you don’t use by the end of the year, so it doesn’t pay to get overeager.

Make sure to discuss any financial concerns you have about your healthcare with your doctor and care team.

You never know what ideas or options they may suggest if you let them know money is on the mind.

Whether it’s a discussion about the type of medciations you take, how often you take those drugs, what your insurance coverage picture looks like, or how you face difficulty managing the costs of everything to stay healthy, they are a key part of your team in finding solutions.

Managing your health can be expensive and feel overwhelming.

You may be able to find different strategies to save money, or improve your access or affordability picture when it comes to medications and other healthcare services.

Always keep in close communication with your healthcare team, and discuss any issues you may have with them. They may be able to point you toward savings opportunities, discounts, or money management strategies relating to your health journey