Highlights in this issue:

*** The number 1 website for free medical tests and treatments…
*** 4 out of 5 hospital bills have this mistake - and it's costing you thousands…
*** How much more will you be paying…?

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From the pen of Karin Iten …

Dear Investment Academy Reader,

In case you haven’t noticed, medical bills are shooting through the roof. And now we’ve been hit with another increase. “Medical scheme members will soon have to dig deep to pay double-digit increases,” reports The Daily News. And just last month, the country’s six largest medical schemes announced they’d be increasing costs between 4% and 19% in 2010.

That’s huge! And you’re bound to feel the impact on your already thinly-worn pockets.

That’s why this week I’m going to show you seven ways to cut your healthcare bills – without skimping on treatment.

Cut the bill, not your level of care

Tip #1: Don’t pay for it, if you can get it for free
Watch the National Health Calendar at www.samedical.org, which lists a variety of health and wellness awareness days held in SA each year.

The calendar events are hosted by government clinics, hospitals and even certain private clinics. During these periods, they offer free advice and testing. By keeping an eye on the calendar, you’ll be able to go for free screenings for various medical conditions from cholesterol, blood pressure and glucose testing, to pap smears, mammograms, childhood immunisations and more.

Tip #2: Need a routine check up? Don’t visit your doctor or dentist…
A trip to a Dischem Clinic (www.dischem.co.za) could save you a packet – they offer standard tests at incredibly cheap rates, such as blood pressure (R20), blood sugar (R28) and cholesterol (R38) screening.

And remember, regular physical exams can really cut down your expenses in the long run. So make sure you schedule a dentist visit every six months and get your eyes tested once a year.

Tip #3: Double check your bill
As many as eight out of ten doctors and hospital bills contain errors that increase the tab by roughly 25%. So keep a log of every test and medication you receive. When you get the bill, check this against your medical file. If you spot a mistake, phone up the office and request a corrected bill. Remember to notify your medical aid and supply them with all the proof and the amended bill and follow up to check it’s been processed.

Tip #4: Follow your doctor’s advice
According to healthcare experts, Cybele Weisser and Amanda Gengler: “Roughly half of all patients don’t follow instruction about taking medicine.” This lack of discipline results in 10% of all hospital visits a year. So do as you’re told – and you’ll save yourself those costly hospital fees!

Tip #5: Stay within the network
Next time you need to see a specialist, look for doctors and health care providers that are within your medical aid’s network. Your medical aid should be willing to provide you with a list of those on the network in your area. This can save you a lot of money. However, if you need a specialist and you can’t find one in the network, put your health needs first.

Tip #6: Go generic!
Prescription drugs are the single largest component of out-of-pocket costs for consumers. One way to slash your expenses is to ask your doctor or pharmacist for a generic equivalent whenever possible. A typical generic drug will cost, on average, less than a third of its brand name counterpart and they’re just as good.

And this goes for over-the-counter meds too. Paracetemol is paracetemol! So ask your pharmacist for an unbranded box. You can get around 100 tablets for R20, as opposed to R10 for 24!

Tip #7: Fight inertia
If you're taking chronic medication, discuss with your doctor how long you've been taking it and whether it's working. If it isn't, don’t take it anymore. That’s the consensus of the Harvard Medical Society.

Many people take drugs for years without knowing if they’re helping in any way. “Antihistamines, nasal steroid sprays and antireflux medications are prime candidates for this sort of pharmacological inertia. You can avoid this problem by talking to your doctor about a trial period when you start a drug.” So get some instructions about signs that show the drug’s working and consult your doctor if it's not.

Here’s how much more you’ll pay for medical aid next year…

Here’s to your financial freedom,

Karin Iten
For the Investment Academy