Abstract: Methods and systems for managing healthcare cost are disclosed. A method includes receiving, one or more employee preference inputs from an employee for accessing medical services. The one or more employee preference inputs include at least one medical service and location of the employee. The method includes accessing, a plurality of pricing from plurality of medical service providers in predefined region of the location. The method includes accessing, a reward program selected by an employer. The reward program includes at least reward reference percentage and a savings share percentage. The method includes determining, a reference pricing for the at least one medical service based on the reward reference percentage and the median pricing. The method includes determining, differential pricing for each medical service provider by comparing with a corresponding pricing offered. Thereafter, the method includes calculating, reward incentive based on the differential pricing and the saving share percentage.