Thanks to rising health care costs and health insurance, and many people are shopping for new coverage based on premium alone. They come with a number in their heads in terms of how much they want to spend each month, and then look for insurance plans that are compatible with this figure does not take into account factors such as discount, network doctor and co-insurance plan.
While these factors may not matter much if you are in good health in general or do not have dependents, for those who need a more systematic, and health care is the cheapest option is not always better. In some cases, go with lower premium insurance plan could end up costing more. Here are three good reasons to consider a more expensive plan the cheapest option. (Read more here: How to shop for health insurance.)
1. You have a chronic illness
When it comes to health insurance matter, the more you pay in insurance premiums, and more coverage, you get the less you’ll need to pay out of pocket. These days, most insurance policies have co-payments, co-insurance and deductible that you will have to meet before coverage kicks in and the size of the monthly installments dictate how much of the coverage that you’re responsible.
If you suffer from a chronic illness, go with low premium plan that could turn out to be bad financial decisions. Because of maintenance medications and frequent doctor visits that are usually associated with a chronic illness, it will erase any savings you will get from lower insurance premium plan by a doctor out-of-pocket costs. Also, the cheapest plans may not be doctors and specialists in your network may be plans for a huge discount. If you need to go outside the network, and the costs that you are responsible for her arrival.
The best option if you have a chronic illness is the study of the overall cost of care and then choose the plan that meets all your requirements without the need to cover the high deductible or spend hundreds of payments in the joint and co-insurance. Make sure the plan covers your drugs include your must-have doctors and specialists. (Read more here: Cutting cost health insurance market).
2. You have dependents
Anyone who has kids knows you can spend a lot of time in the doctor’s office, whether it’s the flu or broken bones. While each plan will cover a certain amount of time for your children wellness, plans could also mean a lot cheaper than outside the pocket unexpected injuries and illnesses costs. If you have children, and the development of high-deductible health insurance plan, while temping from the cost point of view, it may not make much sense. Only one broken arm, you may owe a huge doctor bill before coverage would begin.
Low deductible plan, high cost may mean that you have to shell out more each month. But all it takes is one incident per year, and a plan that can save you big money. A, a plan for low-price discount from a special sense for parents of young children, who are more susceptible to infection and disease, and / or older who participate in sports are potentially dangerous.
3. You can not meet the deductible
No one can predict the future: no matter how healthy you are, you can not prevent a disease or an unexpected injury. What can protect against, however, is how much disease will cost you. Many healthy people choose the least expensive option when it comes to health insurance matter, which means a higher-deductible plan. After all, they figure likelihood of getting hurt and that needs to be treated at hospitals and low, so they will not have to worry about meeting a big discount that comes with lower premium plans. But if there is something bad happens and you can not afford the deductible, the worse off you will be. And it could mean a delay of medical care or putting it off altogether. This in turn can worsen your illness, which require more expensive medical intervention on the road.