George Beach Insurance Services
  • Home
  • Quotes
    • Group Benefits Quote
    • Health Quotes >
      • Health Insurance Quote
      • Medicare Plans Quote
    • Life Insurance Quotes >
      • Life Insurance Quote
      • Term Life Insurance Quote
      • Final Expense Insurance Quote
    • Other Quotes
  • Insurance
    • Group Benefits
    • Health >
      • Health Insurance
      • Medicare Plans
    • Life >
      • Life Insurance
      • Final Expense Insurance
    • Other >
      • Travel Health Insurance
      • Pet Insurance
  • About
    • Refer a Friend
    • Insurance Carriers
    • Privacy Policy
    • Videos
    • News
    • Blog
  • Contact
    • Schedule

George Beach Insurance Services LLC Blog

​Choosing a High or Low Deductible

8/23/2018

0 Comments

 
Picture
Every year, everyone has to update their health insurance. It is inevitable and many people dread having to decide which plan they should go with for the following year. There are so many variables, and cost is one of those variables. The cost of the health insurance plan can vary depending on the size of the deductible. 
 
Because the insured will be responsible for a larger amount of their initial care at the beginning, a high deductible plan will have a lower premium each month. The deductible can range from $1,000 or more depending on the size of the insured’s family. The money paid out for the deductible will end as soon as the limit is reached for the plan. 
 
If the insured decides on a high deductible plan, they maybe be eligible for a Health Savings Account. This account allows the insured to set aside a certain amount of pre-tax dollars for medical expenses. Sometimes an employer will also contribute to an employee’s Health Savings Account. 
 
A low deductible plan means that the insured will pay less for medical care when they visit a doctor, but their premiums will be much higher every month. Most of the time with a low deductible plan, the insured is paying a co-pay for each visit to the doctor and these co-pays will need to be paid throughout the year. 
 
It is usually best to estimate the medical costs for the following year before signing up for a plan. A person should make a list of all of the routine and necessary appointments plus prescriptions and then add on a few extras just in case. Next, add up all of the expenses including the premium for a high deductible plan and then for the low deductible plan and compare them. A low deductible plan has the potential to cost twice as much per month than a high deductible plan, depending on how often the medical insurance is used. 
 
A high deductible plan is usually best for people who are healthy and do not have children.  Low deductible plans are always best for people with chronic medical issues and children. 
 
Health insurance is necessary and it is not something that can be ignored. Every person needs to look at the information carefully and make the best decision for themselves and their family.  

0 Comments



Leave a Reply.

    Contact Us

    (209) 353-2330​
    Modesto, CA 95355​
    Click Here to Email Us

    Archives

    October 2021
    September 2021
    November 2019
    September 2019
    August 2019
    July 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    October 2018
    September 2018
    August 2018
    June 2018
    August 2017
    June 2017

    Categories

    All
    ACA
    Addiction
    BioTech
    Business
    Covered California
    Dental
    EPO
    Group
    Health
    HMO
    Insurance
    Insurance 101
    Lifestyle
    Medi-Cal
    Off Exchange
    Off-Exchange
    On Exchange
    On-Exchange
    PPO
    Pregnancy
    Qualifying Life Event
    Spotlight Video
    Surgery
    Trends
    Vision

    RSS Feed

Navigation

Homepage
Insurance Quotes
Policy Service
Insurance Products
​Privacy Policy
Contact Us
Agent Login

Connect With Us

Share This Page

Contact Us

George Beach Insurance Services LLC​
Modesto, CA 95355
(209) 353-2330​
Click Here to Email Us
CA License: 0K34688 & 0K82780
AZ License: 17640886
CO License: 630662
HI License: 487461
KS License: 17640886
LA License: 816649
NV License: 3301831
OR License: 17640886
WA License: 1087205

Location

Picture
Website by InsuranceSplash
  • Home
  • Quotes
    • Group Benefits Quote
    • Health Quotes >
      • Health Insurance Quote
      • Medicare Plans Quote
    • Life Insurance Quotes >
      • Life Insurance Quote
      • Term Life Insurance Quote
      • Final Expense Insurance Quote
    • Other Quotes
  • Insurance
    • Group Benefits
    • Health >
      • Health Insurance
      • Medicare Plans
    • Life >
      • Life Insurance
      • Final Expense Insurance
    • Other >
      • Travel Health Insurance
      • Pet Insurance
  • About
    • Refer a Friend
    • Insurance Carriers
    • Privacy Policy
    • Videos
    • News
    • Blog
  • Contact
    • Schedule