6 Ways to Save on Medical Care for Your Family in 2023

Saving money is a popular New Year’s resolution.

If you’re looking for ways to trim your budget in 2023, medical care is a good place to start.

Health care spending in the US hit $4.1 trillion — or $12,530 per person — in 2020 (the most recent data available), according to the Centers for Medicare & Medicaid Services.


6 Ways to Save on Medical Care in 2023

Here are six ways to save money on medical care in 2023 so you can keep your body, mind and wallet healthy in the new year.

  • Get health insurance.
  • Or review your current health insurance.
  • If you’re on Medicare, review your options during open enrollment.
  • Find free and low-cost mental health services.
  • Negotiate your medical bills.
  • Check your credit report.

1. Get Health Insurance

Forgoing health insurance may seem like an easy way to save money each month. If you’re young and healthy, shelling out monthly premiums for a plan you barely use can seem like a waste of money.

But that short-term decision to save money could be a costly one if you have a catastrophic health event.

Open enrollment for plans on HealthCare.gov — the health insurance marketplace where you can shop and sign up for affordable plans — is going on now through Jan. 15.

The Health Insurance Marketplace was created as part of the Affordable Care Act, and is aimed at people who can’t get coverage through their employer. This can include part-time employees, freelancers, gig workers, college students, people who are self-employed or unemployed and early retires under 65among others.

Most of the 14.5 million people enrolled in insurance through the public marketplace receive subsidies to help lower their premiums.

This can help you save money on your health insurance coverage in 2023.

Here’s how those subsidies break down:

  • If you make up to 150% of the federal poverty level ($20,385 for an individual and $27,465 for a couple): You can get an ACA plan with no monthly premium.
  • If you earn up to…

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