8 Ways to Decrease Health Expenses

This post is not directly related to anything orthopedics. But anything related to my practice or medicine in general, I said I will discuss from time to time. And since personal finance has been one of my interests also, I found a perfect way to combine health or medicine, and financial management in one post.

Now to illustrate my point, one of the highest expenses you can have in your lifetime is health expenses. Health expenses can really drain your finances, and it seems like health costs always go up, no matter what you do, who’s in charge, or what laws are passed. Just like costs of basic goods, health costs increase with inflation.  In order to save money on health expenses,  there are a few things we can do:

1.      Keep and stay healthy.

This is probably the most important thing. You have more health expenses if you can’t lose your fat, or eat too much. Exercise, eat a balanced diet, and try to take time for relaxation and stress relief. You will need fewer doctor’s visits and will have fewer illnesses. And, while nothing can protect you completely, good health habits in general can lead to better disease management and protection, and less of a need for using health care services.

    Even doctors get sick.  Even cardiologists suffer heart attacks.  Even orthopedic surgeons can suffer from fractures. No one is immune from all diseases, especially as you grow old.

2.      Keep an emergency fund for health expenses 

You will never know when emergencies will occur.  And if such scenario happens (knock on wood), how do you plan to pay for your hospital bills?  By cash, by credit card, by selling your house, or by selling your kidneys?  In fact, as an orthopedic surgeon dealing with accidents or injuries and fractures almost daily, I see patients who are hard-pressed to find money for their medical and surgical care, even those with medical insurance.  It is heart-breaking to see patients crying in front of me because they can’t afford the treatment proposed. Do we want to be like them?

Bear in mind that emergency fund is money you can readily get without having to liquidate your long-term investments.  Some recommend a 6-month worth of monthly expenses as your emergency fund.  This can be placed in savings, time deposit accounts or even money market funds, where you can readily liquidate them.

Some believe that their credit cards are a form of emergency fund.  Sure, you can use them especially when required down payment by the hospital.  But make sure you pay the whole bill at the end of the billing period as credit cards have the highest interest rate known to man (next to the “Bumbay’s” 5-6).

3.      Contribute to Philhealth 

     Philhealth is our government’s medical insurance.  It will not pay for everything on your hospital bills. But a 20-30% reduction on your medical bills is not bad, for only a P100 or P200 monthly contribution. So unless you’re a beggar roaming in the streets, you can afford to contribute to Philhealth. If you are employed, this is automatically deducted from your salary.  But if you are self-employed, you need to pay personally.  Be sure your payment is up to date.

4.      Get a health insurance 

        Any coverage is better than no coverage. There are different health insurances available, but some are quite expensive.   Health Maintenance Organizations (HMOs) and life insurances provide some health benefits, depending on the type. They are appropriate in some situations, but not in some. Just remember to understand your coverage carefully.  Many patients have incurred large medical bills, only to find that a large portion of the bill is not covered by insurance, due to exclusions and limits. The actual coverage under health insurance can be quite complicated to understand, so be sure to read your policy and clarify things with your agent.

Also, if you already have a health insurance, check if you are paying for something you don’t really need.  You might be surprised that you have coverage for maternity benefits when you are already menopausal!  Cut your benefits and you may be paying a smaller premium.

5.      Buy generic 

      No study have really proven the superiority of branded medicines to generic ones.  But if you’re really doubtful of generic medicines, discuss with your trusted physician.

6.      Use your discount cards  

     The senior citizen cards are the most useful discount cards that can be used here in our country. If you’re a senior citizen, make sure you get one and bring them everytime you purchase your medicines.  And don’t forget to bring your doctor’s prescription and booklet as pharmacies usually require these before they give you the discount. I once saw an elderly patient who got so stressed at a pharmacy counter because she forgot her prescription pad and the pharmacist didn’t want to give her the SC discount. She was arguing relentlessly I thought she would collapse.  Don’t be like her.

7.      Ask your doctors if their fees are negotiable 

       This may be awkward, but it never hurts to ask.  I may be speaking only for myself, but as a doctor, I find giving patients discount for PF is a good way to build relationships.  Some patients really can’t afford, so there’s really nothing we can do about it.  Many of us will be happy to be paid today at reduced fees rather than wait 90-180 days for the insurance company to pay us with nearly the same “negotiated” rate.

8.      Ask help from hospital’s social service

       This is not applicable to everybody, because those who are qualified are the ones who can’t really afford. The qualifications are stiff, but you can at least try.  Even the big hospitals are required to offer a service or charity program. You can also try to get help from PCSO or the Philippine Charity Sweepstakes Office.

Take Home Message

  

      We will all get sick during our lifetime.  And it is imperative that we should have a plan on how to pay and subsequently decrease our health expenses, or we can go bankrupt with even with just one major disease or accident.  This will ultimately help us attain financial success in life.

Can you think of other ways to decrease your health expenses?

Walkers, Not Runners, Win the Race!

       Do you remember the children’s story of the Rabbit versus the Turtle?  Who won?  The turtle isn’t it?

           In a race, the turtle will win!

         I know that’s a different story and that makes the previous statement controversial. But before my marathoner friends and readers howl in protest, I’d like to inform you that I’m talking as an orthopedic surgeon (with subspecialty training in hip and knee reconstruction) giving advice to previously sedentary people.  Yes, previously sedentary people who may not be as fit like you.

       So, let me begin by saying that to jumpstart a journey to a healthier lifestyle, I believe that walking -- a sport that doesn't require athleticism or expensive equipment -- is enough. Any person in any age group can’t go wrong with walking. 

What are the advantages of walking over running?

 1.      Walking and running are both effective aerobic exercises (activities that burn calories and improve your overall fitness level by moving large muscle groups for a sustained period). However, running is considered a vigorous exercise, while walking is a mild to moderate exercise. With running, each time your foot strikes the ground, the impact causes trauma to the weight bearing joints, especially the knees. Walking briskly causes impact as well. However, the impact is much less.

2.      While both activities can leave you sore at first, running is a higher intensity and impact type of exercise, thus, runners are generally more prone to injuries than walkers, especially if they don't stretch and warm up. I’ve seen more shin splints more frequently now than before because of the popularity of running nowadays. They can crop up if you overdo your running workout or wear shoes that don't give proper support. So make sure you are using a sturdy, stable pair of shoes.

3.    Walking works better if you're beginning an exercise program or are severely out of shape. (Yes, I know that round is a shape. I know that joke).  You can always gradually work up to a run.

So, is walking enough?

        The reason I say walkers, not runners win the race, is because walking is much more equal-opportunity when it comes to different fitness levels. Both of them can be beneficial. But if you are deciding whether running or walking should be part of your fitness regimen, the very first thing to consider is your fitness level, and how much impact your joints can absorb.

       Ask yourself: How much weight are you carrying? 

       Look at the mirror.  Do you think you had taken too much food in your life? :)

     Reports say that every extra pound you carry adds up to 3 pounds of pressure on your knee joints when you walk, and 10 pounds more when you run. In fact, obesity is one of the biggest risk factor for developing osteoarthritis because it speeds the breakdown of cartilage or the shock absorber in your joints. Losing extra weight -- particularly body fat -- may be the single most important thing you can do to reduce the risk of developing a serious knee problem. In a study reviewed by the National Institutes of Health in the US, overweight people who lost an average of 11 pounds had their risk of osteoarthritis decreased by 50%.

      Friends, we put an enormous amount of mechanical stress on our knees on a daily basis. And, typically, the knee is bound to take it, being a weight-bearing joint. Certain bad habits could be shortening the life of your knees and opening the door to chronic pain and disability.

Summary

        Running and walking are good sources of aerobic exercise. But running, compared to walking, requires a higher fitness level to begin with due to its higher intensity. Although walking is a slower and a more boring way to get fit, it can also be a lot more comfortable if you suffer from a number of conditions or are new to exercise. The best exercise is the one that matches your fitness level and is enjoyable enough for you to stick with it. A big mistake most people make is doing too much too soon when it comes to running. Starting slowly will condition the joints and the different systems of the body to acclimatize to more aggressive workouts in the future, while avoiding common injuries, especially to your knees.

             As for me, do I walk or run a marathon?  Obviously, I follow my own advice.   I do walking, not running.  I also bike (that would be another post topic) and lift some light weights. I also do stretching exercises in front of the bathroom mirror and do some poses ala Hulk Hogan or Ultimate Warrior (If you don’t know them, you’re not my age). J

“You don’t have to be a jogger or a marathon runner; all you have to do is move” — Dr. Paul Bendheim, author of “The Brain Training Revolution”

Walk, run, bike, swim.  It’s up to you.  As long as you move!

P.S.

By the way, there is a diet/fitness "level-up" website with app created by a dear reader Ms Christine Chu. If you want to check it out, or use it, it's at slimkicker.com. It may motivate you to stick to your fitness/ weight loss goals.  Goodluck!