2007-06-11

Proven Tips That Can Lower Your Health Insurance Costs (2)

Proven Tips That Can Lower Your Health Insurance Costs
By : Joe Stewart

Another thing you might consider is to raise your deductibles. The deductible is the amount of money the insurance company expects you to pay each year before they start paying anything. An example of this would be what's called 80/20 pay.

This means that you'd pay the first 20% of the of the costs of your visit to the doctor and the insurance company would cover anything after that.

So if the cost was $100 for your medical needs then you would be expected to pay $20 and the insurance company would take care of the other $80. You'd only pay up to a maximum amount every year on your deductible.

Deductibles vary anywhere from zero to $5-$10,000. The higher deductible you carry on your policy, the lower your monthly payment will be, however, if you carry a high deductible this means that you will be paying a large portion of your everyday medical care out-of-pocket.

If you could possibly set aside enough money that would equal your annual deductible amount you would be in very good shape because the average person only goes to the doctor once or twice a year.

This would make your payments minimal, your out-of-pocket costs would be covered if you have the money set aside and you would be covered in case of any major medical emergency. Just another option to think about.

Joe Stewart Is A Former Health Insurance Agent. He's Made Understanding Health Insurance Easy For Others. You Can Learn More About Health Insurance And Get Free Health Insurance Quotes For Individual And Family At His Website TheHealthInsuranceGuys.org or by clicking on Health Insurance Quotes

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