The Key to Lower Healthcare Costs

The key to lower healthcare costs is high-deductible health insurance plans combined with websites like this one--> (click here).  The cost-sharing aspects of high-deductible health insurance plans like those attached to healthcare savings accounts (HSA) encourage patients to shop around for the best care at the best price for non-emergency care.  

The website above shines a light on certain hospitals and doctors that charge more than twice what similar hospitals and doctors charge for similar care.  I'd like to see the website above add patient reviews.  Reviews combined with clear pricing would do for healthcare costs what Amazon has done for almost everything else.

It's incredible to think, most of us put much more research effort into buying a new car, TV, vacation spot, or even a small power tool than we do choosing a doctor or hospital for hip replacement or hernia repair.  

Claritin-omics

I don't usually blog about how to save money when shopping, but this was just so big, I wanted to tell everyone.  Recently I found a way for my family to save $1,175 per year - on one item.  


Our 7-year old twins both take over-the-counter Claritin for allergies.  There are generic pills available, but I have not found a chewable generic for kids.  I never paid much attention to what we pay for Children's Claritin until BJ's Wholesale Club quit carrying it and we had to begin buying it at Walgreens.  


It seemed quite expensive at Walgreens.  So, being the finance nerd that I am, I created a spreadsheet to calculate the annual cost.  I was a bit shocked when my annual estimate came to $1,532!  


$20.99 per 20 or $1.05 per pill, but my kids need 2 per dose so $2.10 per dose.  With 2 kids and 365 days per year, that means 720 doses per year or 720 x $2.10 = $1,532