Friday, April 22, 2011
Make the Most of Your Benefits | Family Economics
I spent several years working in human resources and much of that work involved helping employees with benefits. Between the acronyms of EOB, SPD, FSA and many more, I became quite proficient in understanding and decoding benefits jargon.
Here are a few tips to help you manage your benefits plan and get them to truly be a financial benefit:
Stay in the network
Does your plan have in-network benefits? If so, you can get a better discount and pay fewer out-of-pocket costs. Most plans will pay for services done out of the network, but it will be more expensive. Seek referrals for other physicians within the network so you save the most, too!
Request detailed invoices
Ask the medical facility for detailed invoices for your visits. Some facilities will charge for things you didn't even use. If you point these out, you can help save additional money on your benefits charges. While it may be minimal, this really can help keep your overall costs lower in the grand scheme of things.
Avoid unnecessary testing
If you are working with a specialist as well as your primary care doctor, make sure to keep the lines of communication open so you don’t duplicate tests. This will save you a co-pay. Of course, always make sure your doctor directs you with what actually needs to be done and consider getting this in writing as well.
There are so many ways to save the most on your benefits and health care. What have you done for your family’s benefits bottom line?