What Is A High-Deductible Plan?

A great way to save money is to get a high-deductible health insurance plan.  Deductible is the amount of money you are responsible for before health insurance benefits start.  Generally, office visits and prescription benefits are not included in the deductible.  Once you meet your deductible, the health insurance carriers will pay your medical claims at the coinsurance rate.

Carriers like Anthem Blue Cross and Blue Shield offer all ranges of deductible plans.  Starting with PPO plans at $250 deductibles all the way up to $10,000 plus.  Obviously, if you choose either extreme, your monthly health insurance premium will vary greatly.  Getting a very low deductible plan only makes sense if you have a lot of medical needs and it will help you save money throughout the year.  More often than not, healthier people choose higher deductible plans because they do not use the health insurance that much.