A high deductible insurance plan is a more affordable option when you are considering health insurance. These plans offer lower monthly premiums. However they usually do not cover well childcare or well visits until you have reached your annual deductible. Then the insurance coverage kicks in, usually at one hundred percent coverage.
The high deductible policies usually range from $1000.00 to $5000.00. You may find insurance plans with an even higher deductible. You can open a health savings account if you have a high deductible health insurance plan. This account allows you to contribute with tax advantages, and you can roll the money over from year to year.
The downside to a high deductible insurance plan is that you are responsible for paying everything out of pocket until you reach your deductible. You will pay a hundred percent of the cost of prescriptions, doctor visits, and emergency room visits. You will also pay for the cost of surgeries and out patient procedures. If you are considering a pregnancy you need to check if there is maternity coverage on your policy.
You may consider a high deductible plan if you are pretty healthy and rarely go to the doctor. It is a good option if you need to cut expenses, but you should be sure to begin setting aside the $5000.00 so that you can cover your side of expenses.
