I currently have a health insurance plan in which I pay $80 every month. The plan has a deductible of $500, and an out-of-pocket amount of $2,000. This out-of-pocket amount does not include the deductible. I also pay a 30% coinsurance amount after the deductible in this plan, which is included in the out-of pocket limit. This means that I have to pay 30% of the cost of services, after deductible, when I visited my doctor. I paid a $30 co-pay amount during these visits. Is it good to have a health insurance plan that has a low deductible amount but a high co-insurance amount?
If you want to save additional cost, your health insurance plan might be eligible for a Health Savings Account or HSA. The HSA is where you save your pre-taxed money specifically for your healthcare needs. The HSA will work well for you if you are a generally healthy person. It might also be good if you compare your current health insurance plan with the same coverage and deductible amounts with plans from other providers. Get as many quotes as possible. When you decide which health insurance plan to take, make sure that the health insurance company itself is among those ranked as one of the best. Answer by Moderator - June 19, 2009 @ 4:59 pm No CommentsNo comments yet. Leave a comment |
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First of all, it is important that you are comfortable with the deductible amount that you pay for in your health insurance plan. Deductibles are usually paid using the money that you saved for your medical expenses. In general, health insurance plans that have high deductibles have low monthly premiums. The real key is how much of the services will you expect to need during the year. If you can estimate this then you can compare your health insurance premiums to the amount of services that you will have to pay for. Then you can check the premiums for the same coverage with both higher and lower deductible amounts.
