Out of Pocket Expenses: Understanding Your Next Bill

Out of pocket in Spanish (De su bolsillo en español) expenses are the costs that you pay for healthcare services that are not covered by your insurance. These expenses can include things like copays, deductibles, and coinsurance.

Copays are a fixed amount that you pay for each doctor's visit, prescription drug, or other healthcare service.

Deductibles are the amount of money that you have to pay out of pocket before your insurance starts to cover your healthcare costs.

Coinsurance is the percentage of the cost of a healthcare service that you have to pay after you have met your deductible.

Out of pocket in Spanish expenses can add up quickly, especially if you have a high-deductible health plan. According to a study by the Kaiser Family Foundation, the average American family with employer-sponsored health insurance paid $1,200 in Out of pocket in Spanish expenses in 2018.

Type of expense	Average amount
Copay for a doctor's visit	$25
Deductible for a single person	$1,350
Deductible for a family	$2,700
Coinsurance for a hospital stay	20%

How to Reduce Your Out of Pocket in Spanish Expenses

There are a number of things that you can do to reduce your Out of pocket in Spanish expenses.

Choose a health plan with a low deductible. The lower your deductible, the less you will have to pay out of pocket before your insurance starts to cover your healthcare costs.

Use generic drugs. Generic drugs are just as effective as brand-name drugs, but they cost less.

Get preventive care. Preventive care can help you avoid getting sick in the first place, which can save you money on Out of pocket in Spanish expenses.

Shop around for healthcare providers. Some healthcare providers charge more than others for the same services.

Tip	How it can save you money
Choose a health plan with a low deductible	You will have to pay less out of pocket before your insurance starts to cover your healthcare costs.
Use generic drugs	Generic drugs are just as effective as brand-name drugs, but they cost less.
Get preventive care	Preventive care can help you avoid getting sick in the first place, which can save you money on out-of-pocket expenses.
Shop around for healthcare providers	Some healthcare providers charge more than others for the same services.

Common Mistakes to Avoid

There are a few common mistakes that people make when it comes to Out of pocket in Spanish expenses.

Not understanding your health plan. It is important to understand your health plan so that you know what is covered and what is not.

Overspending on healthcare. It is easy to overspend on healthcare, especially if you are not careful. Be sure to shop around for healthcare providers and compare prices before you make any decisions.

Not taking advantage of preventive care. Preventive care can help you avoid getting sick in the first place, which can save you money on Out of pocket in Spanish expenses.

Mistake	How to avoid it
Not understanding your health plan	Read your health plan carefully and contact your insurance company if you have any questions.
Overspending on healthcare	Shop around for healthcare providers and compare prices before you make any decisions.
Not taking advantage of preventive care	Get regular checkups and screenings, and follow your doctor's recommendations for preventive care.

Out of Pocket Expenses: Understanding Your Next Bill