What Is A High-Deductible Health Plan?

There are so many different health plans available. Choosing the right one for your needs may seem overwhelming at first, as there are many different options. However, researching and speaking with an insurance professional are great ways to learn more about the different possibilities and select the one that will be best for you.

Deductibles are amounts that are typically paid yearly. Before an individual reaches their deductible, they won’t have the full scope of their health insurance policy. Once the deductible is met, they will typically have access to their full policy. Deductibles are expected to be paid entirely out-of-pocket, though there is a program that can help pay for some deductibles.

High-Deductible health plans

High-deductible health plans are an insurance option that some choose in order to save money. This may sound contradictory, as they do have a higher deductible than other plan options. However, these types of policies typically have lower premiums. 

Premiums are amounts that must be paid monthly, whether or not you use your health insurance coverage. Deductibles are amounts that are only paid when your coverage is used. This means that you could potentially save more money if you don’t use your health insurance coverage. 

Why choose a high-deductible option?

If you are not anticipating using your health insurance but still want to have it in case of an emergency, then this is an excellent option to save you as much money as possible.

Medigap

Medigap is supplemental insurance that’s solely for those enrolled in Original Medicare. The purpose of Medigap is to cover some of the costs that would otherwise need to be paid for out-of-pocket. Enrolling in Medigap is an excellent way to save money and make sure that you’re paying as little as possible. There are two different Medigap policies that have high-deductible options. It’s important to keep this in mind while you’re looking at all of the choices that are available to you.

Making the right insurance choices for you

There are so many different things to keep in mind when you’re looking at different insurance policies. What areas of your insurance you’ve used in the past, any current medical needs you have, and what you’re anticipating the future being like are all things that should be taken into account. High-deductible policies are an excellent choice if you’re not anticipating using your health insurance and are looking for a low premium option. Taking advantage of this choice is a great way to save money while still having access to healthcare.

If you’re interested in learning more about your health insurance options, you can contact us today. We’re here to provide you with information and make sure you have the tools you need to select the right policy for you. We look forward to speaking with you and working with you on your health insurance journey.

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To learn more and get questions answered about your options, give us a call today at 713-900-1901. An experienced licensed agent will sit down with you and discuss your goals and needs to help find the perfect plan.