When searching for affordable health insurance, keep the deductible in mind. It’s important for the bottom line.
If you want good medical care, yes, you will be paying a healthy premium for it every month. But it only makes sense, because if you did not have that health insurance policy, your medical bills could bankrupt you in the blink of an eye. Even with slightly higher premiums for quality care, there are ways to adjust the budget and re-arrange expenses to handle it.
You start at the beginning if you have never had health insurance before (if you have, you may still comparison shop for prices). You’ll be looking for affordable health insurance, and because you are smart, you will know that the cheapest price is not always the best. You know that old saying that you get what you pay for? This is really true in the health care industry. If you get a cheap policy, chances are you also get cheap coverage that won’t work for you when you need it. If that’s the case, what’s the point in wasting your hard-earned money?
If you’re surfing online, it doesn’t take long to get quotes back when you ask for them. These days, a large number of health insurance websites offer free quotes. If you ever get asked to pay for a quote, run as far and as fast as you can in the opposite direction.
So, you’re on a website and want affordable health insurance quotes. Fill out the form, and in most cases, the quote comes back so fast you almost get whiplash. Get about five of these and then compare by price, but don’t make your final decision based on price alone. Compare what is in the policies. After all, the contents of the policy are ultimately the most important. In other words, a price is just a price, what the policy covers is where the rubber hits the road.
If you find a policy that looks like it might work for you, but the price is a bit high, you can still cut your costs by choosing a higher deductible. If you want to do that, make sure you know the pros and cons. For instance, you pay monthly premiums and an annual deductible, which doesn’t usually change. If you want to make smaller monthly payments, you may choose to pay out a higher deductible. Note that paying a higher deductible still means you are paying more for your health insurance but, with fixed monthly expenses and a known deductible, you may budget more effectively.
One other advantage to choosing to pay a higher deductible for smaller monthly premiums is that if you lose your job or your pay is cut, you will still be able to manage the premiums. While there are certain advantages to choosing higher deductible, there is the risk you won’t have the money to pay it when you need it. This option is really more appealing to someone who knows for certain they have continuous income. If you’re stuck and aren’t sure about adjusting the deductible, there is an easy way to figure that amount out to see if you could afford it. Calculate how much you can shell out if the payment was due “right now.” Then, make your decision from there.
Ultimately, if you want quality health insurance, it’s best to talk directly to an experienced and qualified insurance agent/broker who can find you a plan that will suit your needs. Trying to figure out all of this stuff on your own is a sure fire way to get an enormous headache. Let the agent do the searching for you. That’s their job, and they do it well.
Clelland Green is with Benepath.com, a leader in providing health insurance quotes. Benepath provides individuals, families, and businesses with affordable health insurance quotes in just a few mouse clicks. To learn more, visit benepath.