Health Insurance – Which is it to Be? High Or Low Deductible Plan?


On paper many people always assume that the best deal to go for is the low deductible health plan. There are different plans available because there are different health needs and different people will need different plans. Having said this, it may be wrong to just say outright that plan A is better than plan B. We are saying this in respect of the benefits each plan offers and the cost of maintaining each plan. You can only reach a useful conclusion on which plan would be best for you after you have considered a couple of factors.

When comparing health plans, do not just look at the monthly expense. Try to calculate and look at the yearly expense. A person with a high deductible health plan would pay much lower monthly rates that a person with a low deductible plan. The annual premiums of these two plans would differ greatly with the low deductible plan costing a lot more. This does not mean that we should automatically all go for the high deductible plan. In very simple terms, we would try to look at how to decide on which is great for you.

The first thing to consider is your health needs. High deductible plan would only be very cost effective if you do not require to use your health insurance often. Whenever you use your health plan, you would pay a lot more than the person with a low deductible plan. If I calculate and given the state of my health, I know I would require many visits to the doctor and other health needs that would bring in my insurance policy, I might find out that paying a seemingly higher monthly premium and low expenses may work out cheaper for me than if I paid a low monthly premium only to pay very huge amounts at every point I call in my insurance policy. On the other hand, I am know that I am healthy and in a year may not need to call on my insurance policy, then by all means the best thing for me to do would be to get a high deductible plan since this would afford me the opportunity of paying low monthly rates and since I may not need to visit the hospital or doctor, I may not make any more expenses.

All the plans out there have their advantages and disadvantages. So carefully study each plan before deciding on which you want to go with. If you get confused, you can ask an agent who would explain things as it affects you as a person and your unique condition.

Start by getting free quotes. Compare health insurance rates and you would get more in-depth information that would help you make the right choice. Compare health insurance rates today and begin your experience of adequate and affordable health insurance coverage.

Source by Chimerenka Odimba