Find high quality Labs, Tests, and Meds for Cheap

Many people seem to think that when your doctor recommends a test, you need to get it done where they want you to get it done. Nothing can be further from the truth. You can research and choose a high quality facility who charges less than half the price of your doctor's facility and have the results sent directly to the doctor.

The same goes for prescription drugs, just by calling around you can find that certain pharmacies charge a lot less for a drug than another. There are even online options which could save you even more money.

As deductibles and prescription copays have steadily increased, it's a good thing to shop around.

Low Cost Labs and Tests

Most labs and tests vary by up to 300%, so why not go to a place that's less expensive. There are two sites to check out when looking for a lab or test (BTW, you will still need a prescription from your doctor for the test, so get that before you walk out the door).

Leslieslist.org

This is a great site that is fed by you and I and includes rates for the most common tests and prescriptions. Here is one example in the Chicagoland area. If it includes the procedure you need, then it's a great resource.

Colonoscopy

In Chicago, the pricing goes from $700+ (probably under $1000) to $2500. Most hospitals actually charge around $2500 - $3500 for the same procedure.

BTW, a friend of mine has negotiated with a doctor to do a full colonoscopy with polop removal for a flat $800 in Hinsdale. You pay upfront and deal with your insurance company. If you want more info, let me know.

Simvestatin, 30 mg tablets for high cholesterol

Leslieslist includes pricing at various drug stores from Costo to Walmart. The range for this generic is $11 for 100 tablets to $42 for 30 tablets.

Yousaveonlabs.com 

Yousaveonlabs is run by mdlabtests.com. You can put in your test and it will come up with the cost and allow you to pre-pay for the lab/test. You show up with your receipt and prescriptions, they perform the test and send it to your doctor. Many of these labs are the very same labs that process the tests done at your doctor's office anyway.

Low Cost Prescriptions

Yousaveonmeds.com

Yousaveonmeds allows you to purchase meds from around the world. It is run by a colleague of mine, Marty Portnoy. The key difference is that you need to talk to him before you can order. This means that if you require an FDIC approved manufacturer (from an outside country), he can help guide you to that manufacturer. He even provides a US receipt you can turn into your insurance company.

BidRx.com

This is a nifty site based in the US. You put in your meds and pharmacies bid on them using a reverse auction format. As far as I understand, it is all United States based pharmacies and drugs.

Summary

If you use these sites, you'll be able be a better consumer and keep more of your money in your pocket.

Compliance Questions -HSAs and Health FSAs - Eligibility Issues     

August 23, 2012

One of my employees just enrolled in a High Deductible Health Plan ("HDHP") and is now eligible to contribute to a Health Savings Account ("HSA").  A few months ago, his spouse enrolled in a general- purpose Health Flexible Spending Account ("Health FSA").  She enrolled the whole family, including her spouse. If the spouse never submits claims for her husband, is he still eligible to contribute to an HSA?

No.

Individuals who are covered by traditional, general-purpose Health FSA are not eligible for HSA contributions. This rule applies whether the individual is the participant in the Health FSA or simply someone whose expenses can be reimbursed-both are considered "covered." Thus, an employee's spouse will not be eligible for HSA contributions if the spouse's qualified medical expenses can be paid or reimbursed under the general purpose Health FSA in which the employee participates, as provided in Revenue Ruling 2004-45 and IRS Notice 2005-86. Nothing in the guidance limits this principle to spouses, so adult children and other individuals (e.g., domestic partners) who have HDHP coverage-and thus might otherwise be able to make contributions to their own HSAs-will not be eligible to make HSA contributions if they are also covered by a family member's general-purpose Health FSA. 

A family member's eligibility may be preserved if the Health FSA excludes him or her from coverage. But at the present time, it is unusual for a Health FSA to restrict coverage, for example, solely to the covered employee or solely to the covered employee and children (but not the spouse). Most of these arrangements allow benefits for any eligible tax dependent. Plan documents and administrative procedures would need to be redesigned in order to facilitate such an "employee-only" or "employee-plus-children (but not spouse)" coverage option. It is not sufficient for an individual to simply promise not to request reimbursement (even if the promise is kept and no claims are ever submitted).

In general, an individual who is covered by a general-purpose Health FSA will be ineligible for HSA contributions for the individual's entire period of coverage under the Health FSA -even after the individual has completely exhausted his or her Health FSA.

Although an individual generally will not be eligible to contribute to an HSA for the entire period of coverage under a general-purpose Health FSA even if the Health FSA account balance has been exhausted, an individual with a $0 balance at plan year-end under a general-purpose Health FSA with a grace period can disregard that Health FSA coverage and be HSA-eligible during the grace period, as provided in IRS Notice 2007-22. This rule requires that the $0 balance be determined on a cash basis and taking into account the uniform coverage rule. Cash basis means the balance as of the relevant date, without taking into account expenses that have not been reimbursed as of that date. Thus, pending claims, claims submitted, claims received, or claims under review that have not been paid as of a date are not taken into account. 

Written by:

Larry Grudzien

Attorney-At-Law

Larry Grudzien, Attorney at Law | 708 South Kenilworth Ave. | Oak Park | IL | 60304

His and Hers FSAs? You bet!

Starting January of 2013, the maximum limit to fund a Health Flexible Spending Account (FSA) is $2500. Currently there is no preset limit (other than a maximum your employer chooses, if any). If you have been contributing more than $2500/year to a Health FSA, then the Affordable Care Act upheld by the Supreme Court just cut your contribution.

There is, however, an alternative if you and your spouse both work. The maximum INDIVIDUAL limit is $2500 in 2013 for a Health FSA. This means that if both you and your spouse work for companies that allow each to have a Health FSA, both can contribute up to $2500 each for a total of $5000/year.

This doesn't help everyone, but at least it's a tip for those who fall into this category.