High Deductible Health Insurance
Question of a Reader:
Why do I prefer my high deductible health insurance plan over the traditional health plan?
David Turner
Thank you for this question.
It is advisable to get a health insurance while you are in good health. The consumers of health insurances will benefit by taking care of one’s body. Routine check up with the doctor and following their advice together with regular exercise will lessen the costs of health care in the future. By doing so, seeking medical care will be less frequent. With a high deductible health plan, better make sure that your deductibles will be the cause that you will lose any money in the future.
Now, let us compare the traditional plan with high deductible health insurance plan. The traditional plan actually has an individual deductible and an individual out-of-pocket limit amount of money. In addition, it is a copay-driven plan. In comparison, the high deductible plan has a higher deductible and also a higher out of pocket maximum amount. After all the deductible is met, a corresponding percentage amount of out of pocket is paid up to the maximum out of pocket amount. There are no copays and everything counts towards the deductible. This means that if you already meet the deductible, you have to pay the full cost of everything out of pocket including the prescriptions.
From a mathematical point of view, others will choose the traditional plan if they do not have plenty of money to pay the full costs of the visits to the doctor and the prescriptions. If you have small children, this kind of plan is not advisable for you. A high deductible plan is appealing to someone who uses the benefits minimally.
With a commitment to stay healthy, you really need health insurance coverage to bear the unexpected and unavoidable emergency situations.
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