Healthcare Hacks That Could Cut Your Costs by $3K Yearly - AOL

AOL outlines six consumer actions aimed at reducing U.S. healthcare costs, citing a Center for Economic Policy Research estimate that the average working family spends $3,960 per year on insurance premiums and out-of-pocket medical costs. The first step is to use in-network providers by checking an insurer’s directory or calling to confirm both the main clinician and any referred specialists are covered, helping avoid balance billing; the article claims in-network choices can cut some costs by up to 80%. It then recommends using generic medications, which the Federal Trade Commission says cost 80% to 85% less than brand-name drugs. The piece advises comparing plans by premium, deductible, copays, coinsurance and out-of-pocket maximums, using HSAs for high-deductible plans, and negotiating medical bills—though it does not provide specific percentages or savings for those latter items.