Healthcare Costs are Rising—You Can Still Manage Your Costs

Healthcare costs have typically outpaced inflation and the rest of the economy. Between March 2023 and March 2024, hospital services and related services went up by 7.7% while prescription drugs increased by 0.4% and physicians’ services went up by 1.7%.

Don’t expect a break in 2024—healthcare costs are expected to go up by about 5.4%.

So what can you do to make sure you are getting the services you need, but at a reasonable price? Here are tips to save on healthcare:

Healthcare costs have typically outpaced inflation and the rest of the economy. Between March 2023 and March 2024, hospital services and related services went up by 7.7% while prescription drugs increased by 0.4% and physicians’ services went up by 1.7%.

Don’t expect a break in 2024—healthcare costs are expected to go up by about 5.4%.

So what can you do to make sure you are getting the services you need, but at a reasonable price? Here are tips to save on healthcare:

💊 Use in-network doctors and pharmacies. You can find in-network pharmacies by calling SmithRx at 1-844-454-5201 or visit them online at member.mysmithrx.com and creating an account. To locate in-network doctors and hospitals visit bcbsil.com and create an account.

💊 Use preventive care benefits by getting regular exams, screenings, and immunizations, which can help you avoid the need for more extensive healthcare expenses in the future.

💊 Choose the right type of care for your situation. Many physicians provide online (virtual) visits at a reduced copay rate. MD Live is a 24-hour-a-day/7-days-a-week service offered by Blue Cross Blue Shield where you can speak with a licensed physician who can evaluate and prescribe medication when necessary. You can also contact MD Live at 1-888-676-4204 or online at MDLIVE.com/BCBSIL, and it might save you a trip to the ER.

💊 Choose generic drugs whenever possible.

💊 Take care of yourself: eat healthy, get enough sleep, move as much as you can, avoid alcohol and tobacco, and maintain a healthy weight.

💊 Shop for high-value care by comparing cost and quality before you seek non-emergency care.

💊 COMING SOON: Blue Cross Blue Shield 24/7 Nurse Line. Keep an eye out for details in the near future.

By taking a few proactive steps, you can get the best healthcare at the best cost.

 #TransformationThursdayTips