Saving money is a popular New Years resolution.
Get Health Insurance
Forgoing health insurance may seem like an easy way to save money each month.
No Interest Til Almost 2027?
Did you know?
Heres how those subsidies break down:
Ready to get started?
Hereshow to sign upfor 2023 Affordable Care Act Health Insurance.
Or Review Your Current Health Insurance
Most companies hold open enrollment events at the end of the year.
Among the more cost-effective options for employers is a high-deductible health plan (HDHP).
High-deductible health plans make sense if youre trying to save money and youre in good health.
An annual exam and preventive services are always covered by HDHPs due to provisions in the Affordable Care Act.
Be realistic about your health insurance needs.
If youre happy with your Medicare coverage, you dont need to do anything.
Unlike insurance agents, SHIP counselors will never have a go at sell you something.
Instead, they can help you review your current coverage.
They can even see if you qualify for aMedicare Savings Programor other assistance based on your income.
you’re free to find your SHIP by using the onlineSHIP Regional Locatortool.
Or you could call the national web connection hotline at 1-877-839-2675.
Another option is employee assistance programs.
you’ve got the option to negotiate medical bills with both the provider and your insurance company.
it’s possible for you to go about this a few different ways.
Lets say you receive a hospital bill for $1,000.
you’re free to call the hospitals billing department and make them an offer.
Can you work with me on this?
is one way to approach negotiations.
Another option is calling your provider and asking to set up a repayment plan.
This may not reduce your total, but spreading out payments can soften the blow to your budget.
(Just verify they dont charge you interest.)
Creating a payment plan can also help prevent your medical bill from ending up in collections.
Heres a step-by step guide onhow to negotiate medical billsto save yourself some money in 2023.
Thats great news for the millions of Americans with lingering medical debt.
Still, the new rule could really boost yourcredit score.
Thats something to look forward to in 2023.
Rachel Christian is a Certified Educator in Personal Finance and a senior writer for The Penny Hoarder.
