Meeting High Medical Costs with High Insurance Deductible Health Insurance Privacy Policy | Contact |

Meeting High Medical Costs with High Insurance Deductible Health Insurance

BBBOnLine Reliability Seal

Home - Health Insurance - Health Insurance Quotes - Meeting High Medical Costs with High Insurance Deductible Health Insurance

Find Local Doctors & Health Plans : Enter ZIP Code...

Your ZIP Code

Types of Health Plan

Your E-mail ID

[Optional and Compliant to Federal Laws]

Meeting High Medical Costs with High Insurance Deductible Health Insurance

Meeting High Medical Costs with High Insurance Deductible Health Insurance

The high deductible health insurance plans are designed to provide greater medical coverage while paying lower prices in comparison to other health insurance. The aim for the coverage provided in high deductible health insurance is to lower the healthcare cost by making the patients become more cost-conscious and also to make the premiums affordable for those who are uninsured. For individuals, who are thinking to cut cost on health insurance, and to cover for serious illness or injury, a HDHP will be the right answer. There are a good number of companies providing high deductible health insurance.

Coverage provided in high deductible health insurance

One has to select from among the collection of high deductible amounts, starting from $500 and going up to $10,000 according to the insurance company you are dealing with. You then go for a health insurance plan for which you take responsibility for the medical costs, going up to the deductible amount chosen. As soon as one reaches the deductible amount, the insurance company covers up the full amount of medical costs going up to the policy limits. If a high deductible health plan is selected, the monthly payments can be reduced dramatically, sometime up to 50% of the amount involved.

The flip side of high deductible health insurance plans is that one has to pay the high amount that was selected, before getting the benefit of their health insurance. There are some plans that provide 100% coverage after the deductible are met. Hence, on selecting deductible of $ 5000, the plan owner can expect coverage for serious medical illness after paying at the most $5000.

High deductible health insurance is also known as catastrophic insurance. This is because the high cost involved in accidents or serious illnesses are covered by this catastrophic insurance. The smaller medical expenses are borne by the plan holder itself. High deductible health insurance is not meant to cover for preventive care. Chronic diseases like diabetes do not come under the cover of high deductible insurance. Same is the case with Pregnancy.

High deductible health insurance is used along with Health Savings Accounts (HSA) so that the individual saves dollars on their premiums as well as out-of-pocket medical expenses. The HSAs are used to pay for all the medical expenses incurred with the pre-tax dollars. HSA saves the individual's money on their health care before meeting the deductible. The best part of having both HSA and HDHP is that the individual has the freedom to select the HSA fund for their deductible or else save the fund in the account for later use.

The companies providing high deductible health insurance include Aetna, Blue Cross Blue Shield, Health Net Insurance, Nationwide Health Plans, Unicare Insurance, World Insurance, American National Insurance, Celtic Health Insurance, Humana Health Insurance, Time Insurance and United Healthcare/Golden Rule.

Meeting High Medical Costs with High Insurance Deductible Health Insurance CLICK HERE FOR INSTANT FREE MEDICAL INSURANCE QUOTES


Home     Contact Us     Privacy Policy     Our Edge     Disclaimer     Site Map     More Resources

Copyright 2003-2018 QuickHealthInsurance.com Group, Inc. [Protected under U.S. Copyright TX5-874-987 & Several Pending Patents]

Page copy protected against web site content infringement by Copyscape.