Loading

Please wait...

Fact Checked

Be Careful Of The Deductible Trap When It Comes To Choosing Health Insurance

Be Careful Of The Deductible Trap When It Comes To Choosing Health InsuranceWith 2015’s March deadline for coverage coming up fast, millions of people throughout the United States are looking at health insurance opportunities again for the first time in a year or more.

Although some studies have indicated that a large number of people might choose not to change their healthcare coverage at all, reasoning that it’s better to stick with what works, it’s a good idea for anyone to review their options each time the open enrollment period comes up.

Experts estimate that most states in the United States will see an increase in price when it comes to the insurance plans that are available through state and federal healthcare exchanges. There is a chance, however, that some people will see their overall investment in healthcare go down.

One thing that people definitely need to be aware of when comparing their health insurance is the deductible -- specifically, the chance that a high deductible will make it nearly impossible to get any claims serviced by their health insurance company.

 

What Is The Deductible Trap? What Every Healthcare Consumer Should Know

The deductible is the amount of money that you must pay out of pocket before you are able to claim any benefits under your health insurance plan. Having a deductible helps insurance firms to significantly hedge the risk that they face, since only some people will exhaust the deductible.

Naturally, the higher the deductible is, the more you will have to pay out of pocket before you have the opportunity to have your insurance company pay for treatment. Younger people with a high deductible may find that they do not receive any tangible insurance benefits in a given year.

When comparing insurance, most people take a close look at the premiums, selecting the lowest one that they are eligible for. They also look at the areas of healthcare that the insurance policy will theoretically cover.

However, it’s very important to make sure that your deductible is also aligned with your needs. In some cases, having an extremely high deductible is similar to having no insurance at all.

 

USA Rx Can Help You With Prescription Medication No Matter Your Deductible

The USA Rx pharmacy discount card is independent from your insurance and is entirely based on a relationship between you and our company. With our discount card, you can achieve average prescription drug discounts of about 50% or more, with a maximum discount of 75%.

To find out more about the card or get one for yourself, call or email us today.

Published February 12th, 2015 by USA Rx
Fact Checked by Chris Riley

Grapefruit Juice and Drug Interactions

Convalescent Plasma for COVID-19

Chemotherapy 101

Was this artical helpful?

Put drug prices & coupons in your pocket!

We'll text you a link to download our free Android or iPhone app