Pay With Cash to Lower Your Health Care Costs

Updated: Jan 20

If you’re looking for ways to save on the medical care services you need, you could be covering those costs with cash.

The Basics

While it’s true that using your health insurance can get you a discounted rate for your medical services, you may be able to negotiate a lower rate by not using your insurance at all.

When you pay for your services with cash, the transaction is between you and the health care provider. This means that the middlemen and the insurer are cut out of the picture, making it easier and quicker for the provider to get paid for the services they offer. In addition, cutting out the middlemen helps providers save money on administrative and billing costs.

How Does It Work?

If you’re interested in paying for medical services out of pocket, you need to be prepared to speak up. Many providers won’t offer the option of paying in cash unless you ask about it first. As a wise health care consumer, you should advocate for the payment method that’s best for you.

You’ll also want to do some research before you schedule your appointment. Not only will this help you determine which facility might offer the best pricing, but it will also help you find facilities that do accept out-of-pocket cash payments. Moreover, you’ll also learn whether your cash payment needs to be made at the point of service (as is typically the case).

Considerations

If you’re considering paying for medical expenses with cash, there are a few things that you should keep in mind:

  • Research is essential—Always call around to find out what your potential costs may be and what providers accept cash payments.

  • Cash payment may not be the best option for every situation—Some services are best paid for by using your insurance.

  • Out-of-pocket payments aren’t all treated the same—Some providers will have preferences on how you pay out of pocket. Be mindful—some credit cards may incur extra fees.

  • Persistence may be necessary—In some cases, you’ll need to advocate for your decision to pay for medical expenses with cash.

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