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Debt consolidation could be an option if reducing medical costs is not enough
12/23/2009
Many consumers will concentrate on trying to pay off debt, and on strategy in doing so is making sure trim costs wherever they can.
One way consumers can try and save is by reducing costs associated with medical bills. Dr. Devon Herrick, a senior fellow with the National Center for Policy Analysis, recently gave some advice when it comes to trying to reduce medical costs. One thing consumers should look at is the amount they pay for their medicine.
"Asking questions, research and making some phone calls can make a significant dent in your drug bill," Herrick wrote.
Some larger pharmacies may offer drug costs that end up being less than a person's co-pay. Furthermore, consumers have the option of comparing pharmacies, especially using the internet. Some drug companies may offer discounts or coupons through their websites, and consumers may consider asking their doctor if there are generic options that will fill their needs.
If trying to slash medical costs isn't enough to help people handle their financial situation, there may be other things they can try. For example, people struggling with credit cards may consider debt consolidation, which could give them the opportunity to pay off debt at a lower interest rate.
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