Health Insurance And High Deductibles


 Health Insurance And High Deductibles

Finding health insurance is getting more and more difficult. With every passing year, the cost of living goes up, and the cost of healthcare comes down. It's a frustrating catch-22 for consumers, especially if you have a high deductible plan like many Americans do. What can you do to stay covered? Read on to find out!

What are high deductible plans? High deductible plans are often associated with catastrophic coverage policies because they have deductibles that can be as high as $10,000 in some cases. The patient pays for most of the medical bills out-of-pocket until the deductible is met, and then the insurance kicks in and begins to pay a reduced rate on healthcare costs.

The purpose of deductibles Many people are under the impression that high deductible plans are bad because they often have a higher monthly premium. In actuality, this higher premium is usually offset by lower monthly payments on healthcare needs.

Put it in perspective If you had a $2,000 deductible and paid $150 to see a doctor every month, you would pay $150 each month for health insurance. If your health insurance was free, you would probably go to the doctor more often. If your health insurance was $150/month, you would probably go to the doctor less often. The difference between types of plans is really just the amount of risk that you are willing to take on.

Stay healthy to stay covered High deductible plans are best for individuals who want lower premiums but still have some health coverage in case of an emergency. If you can afford high deductible plans and you have been eating healthy and exercising, then your regular healthcare costs will be low and more than offset by a low premium payment every month.

Financial incentives for staying healthy Living healthy is cheaper than eating unhealthy and living an unhealthy lifestyle. It's common sense. Financial incentives for staying healthy are a good way to lose weight, eat healthier, and avoid preventable diseases like diabetes, heart disease, and many cancers.

The risks of an accident If you live a healthy lifestyle and never have an accident or get into any kind of bad situation that requires medical attention, you will save a lot of money each month versus someone who has a high medical deductible plan but eats unhealthy food and leads a sedentary lifestyle.

You can't control medical costs One of the biggest reasons for high deductible plans is to control rising medical costs in your area. If you live in a particularly expensive region for healthcare, especially one with a higher cost of living, then the ability to set aside some money each month and save it for high-cost procedures is very important.

Healthcare isn't free Even though you pay $10,000 per year for insurance coverage and a $2,000 deductible, you still have to pay something every time you go to the doctor at first. Once that deductible is met, however, your insurance begins paying 100% of reasonable expenses.

Helping the poor in America You would be surprised at how many people who are on a high deductible plan are also giving money to charity. It's all about helping the poor in America economically. If they needed medical attention, they could use that money for free.

The bottom line The truth is that high deductible plans are not only better for you financially, but healthier and more ethical as well. It's a win-win situation for all involved. Learn more about finding health insurance and other important topics in today's blog post by visiting .

Source: this factual content provided by .

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