Insurances are of pivotal importance. After all, they cover our medical necessities in case of an emergency. Although their relevance cannot be denied, there is yet another side to the coin: insurances are expensive.
It is a misfortune, but health insurance may cost a lot of money in the long run. Sure, they are a worthy investment as prevention tools, but is there a way to save money on insurance in Canada despite all the odds? Luckily, there is! Here we’ll share 6 secrets, so you can save up quite a good amount of capital.
Table of Contents
1. Evaluate Your Current Plan
The first step is re-evaluating your current plan. You have to make sure whether your actual plan is providing you with the best results or not. What’s your current plan covering? What’s not covered at all? A quick evaluation is enough to answer all your doubts.
Another tip is to compare your plan with a different one. Most insurances in Canada count with basic, standard, and premium plans. Moreover, there are public, private, and even health programs for refugees.
Before choosing, revise what each one of those has to offer, and stick with the one that provides the coverage that suits your need. After all, not every family or individual requires the same coverage.
2. Evaluate the Bills
Once you receive your medical bill, it is wise to re-check every item or product and its costs to ensure that you are being charged only for what you used. It seems futile, but more often than not, you may discover you have been mistakenly charged.
In case you encounter some discrepancies, do not hesitate to call your doctor and ask why they have billed you for that specific test or medicine. You don’t have to pay for something that is already covered in your insurance. As that saying goes: “short reckonings make long friends”.
3. Leave No Stone Unturned
Hold on a second! Don’t jump right on the very first plan you see. It is always recommended to shop around a little and compare the alternatives, as some plans are too expensive in certain hospitals. However, if you explore a bit more, you’ll discover that the exact same plan costs less money in a different place or with a different doctor.
Naturally, this task shouldn’t be done on your own. After all, whenever you are looking for something in particular, you’ll always want to count on experts that understand the local Canadian laws to advise and guide you through the decisions. As the information found at https://www.insurdinary.ca/ states, it is of paramount importance to get informed before you get insured. It seems obvious, but that detail may slip away from you and cost you thousands in the end.
4. Improve Your Health
This not only saves money but saves your life as well. Indeed, improving your health by doing regular exercise, eating healthier, and quitting smoking will benefit your health and cash flow in the long run.
Having poor health can take a toll on your finances because you end up spending a lot on medication and tests. Not to mention, smokers spend too much on life insurance premium plans.
If instead, you gradually implement better habits in your life, you’ll be grateful for how much the quality of your life has improved, and how much you saved.
With the exception of certain shops, you should always negotiate for a service. More often than not, you’ll discover that the company (or hospital in this case) allows for discounts and offers waivers. All you have to do is ask for it. Contact the billing department to see which discounts they may offer. You’ll be surprised at how much of a difference a simple negotiation can make to your pockets.
6. Narrow Down Your Needs
As a rule, most people pay for insurance that covers too many unnecessary treatments. This is not too bad, because as we mentioned, it is a form of prevention. Nonetheless, you should reconsider your plan and expenses. Redundant prescriptions, unused medicines, and misdiagnosis do nothing but take valuable cash away.
We highly encourage you to evaluate your needs and make a decision based on more realistic possibilities. Needless to say, you should always count on professional help before determining the course to take.
All in all, it seems that there are dozens of ways to waste money with insurance: unused prescriptions, excessively high bills, and poor health habits are just the tip of the iceberg. Therefore, the best solution is to always ask. Asking for discrepancies on your bill, discounts, and advice on which insurance to contract, is the wisest decision you could ever take. Implement these 6 secrets to save money, and you’ll never complain about medical bills again.