Should You Get a High Deductible Plan?
Choosing your Medical Insurance often feels like a gamble. You do not have to be a high roller to find a plan that is affordable and fits your needs. Many people lower their monthly insurance premium by paying a higher deducible. Not everyone will benefit from this plan, but those that do can save money every month. You may be able to hit the jackpot with a Medical Insurance plan that has a high deductible.
The deductible is the amount you must pay on medical care before the insurance will cover claims. This method was invented to ensure that you do not charge your insurance for things that are not necessary. You must pay until the deductible is reached, and this ensures all your costs are legitimate. Plans with higher deductibles are right for those that are healthy and do not expect any issues to arise. If an emergency does occur, then it is likely the amount will be past the deductible, and the Medical Insurance will cover the cost. High deductible plans mean you may have to pay for some services, but your standard monthly payments will be low. Consider your needs and whether a high deductible plan is the right option for you.