On an average, the percentage of your income that is spent on medical expenses amounts to 7%. Considering the salary structure of any Indian household and the dependency ratio, this percentage is surprisingly high. Why you ask? This is because Indian lifestyle is usually laid-back; we fail to take proper care of our health and neglect concerning issues. High inflation in health care and the delayed rate of diagnosis in diseases and its treatment can lead to exaggerated costs.
There is an incessant need to figure out alternatives or loopholes, which allow one to save on hospital expenses. If you are struggling with inflated hospital bills, here are five guidelines you should follow:
There is a surprising number of people who are not insured under a health insurance policy. If you do not have a health insurance coverage, your medical emergency could quickly turn into a financial emergency. In times of peril, money is not what you should concern yourself with. Your health insurance will cover you for vaccinations to critical illnesses. A health insurance policy could also cover your pre-existing diseases. Moreover, the insurance providers have an array of hospitals wherein you can gain cashless hospitalisation.
Speaking of cashless benefits, your insurance provider will have an array of cashless hospitals, which you can take advantage of in times of a medical emergency. It is important that you have a cashless health insurance policy, this provides for treatments without any out of pocket spending. This is especially important when you have to deal with critical illnesses. Another benefit of cashless benefits is that all the paperwork is handled by our insurer itself and you do not have to worry about anything.
Find alternatives of expensive medication. Most doctors suggest medication based on their chemical composition. Many pharmaceutical companies provide low cost medication with the same chemical composition. Although this will require a little research but it is worth it in the long run.
The most efficient way to lower your healthcare expenses is by improving your lifestyle. This is important not just from the expenditure perspective but also in general improvement of health and lifestyle. Regular exercising, healthy eating habits, maintain your cholesterol and blood sugar levels are some of the efforts you can make towards improving your lifestyle.
It is better to do regular check-ups as they save a lot more money. This will allow you to diagnose a health concern in the beginning stages as compared to later, when the medical costs will increase. Your health insurance plans will allow you to take regular dental exams, check-ups, immunisation etc.