Skip to Content

Controlling Health Care Costs
June 2018

Jun 26, 2018 | Business Owners | Families | Today's Professionals

It does not appear that health care reform is anywhere in sight. Thus most can expect health care costs to continue to rise at a super-inflationary rate. While it is not a cultural norm, we encourage people to inject a healthy dose of consumerism into their health care consumption. Here are some tips that you might considering employing to keeping your health care costs down:

Question Procedures & Testing 

Recognize that in the current health care system, providers are incented to perform expensive and sometimes unnecessary procedures and tests. Before agreeing to a test, ask what the doctor wants to learn from the test. Also ask if the procedure or test can be performed at a non-hospital-owned facility, which often charge less.

Stay In-Network

When making an appointment, verify the provider is covered under your plan at the in-network level. Document who gives you the answer to the question.

Shop Prescriptions

There is a huge range of pricing on prescriptions.  Consider using to find the cheapest place to fill your scripts.

Avoid Balance Billing

When entering a hospital, you are often asked to sign a financial guarantee form. Write the following on this form: I only agree to accept and pay for in-network care. Get a copy of this form. If you are subjected to out-of-network care and are balance billed, show the form to your insurance company. If the problem persists, contact your state insurance commissioner’s office.

Relentlessly Document

Keep a notebook and document every billing or insurance related call that you have with hospitals, insurance companies, and providers.


If all other remedies fail and you face a balance due, negotiate the amount of the payment with the provider. Providers are often willing to accept a discounted payment if they know the money is coming directly from a patient and not an insurance company.

Stay Healthy

The most effective way to avoid health care costs is to avoid the occurrences for needing care. Lifestyle accounts for two-thirds or more of health care costs in the US. Investments in maintaining your personal health can pay large dividends down the road in the form of reduced care costs.


Please remember that past performance may not be indicative of future results.  Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Pathway Financial Advisors, LLC-“Pathway”), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful.  Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions.  Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Pathway.  Please remember that if you are a Pathway client, it remains your responsibility to advise Pathway, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services, or if you would like to impose, add, or to modify any reasonable restrictions to our investment advisory services. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Pathway is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of the Pathway’s current written disclosure Brochure discussing our advisory services and fees is available for review upon request. Please Note: Pathway does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Pathway’s web site or blog or incorporated herein, and takes no responsibility for any such content. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.