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