Medical Insurance Deductible
Medical Insurance Deductible – How High Or Low Should You Set It?
Medical Insurance Premiums Deductible
You may be thinking to yourself, “Why would I want to pay anything to my doctor? Isn’t that the job of the health insurance company?What am I paying health insurance for then?”
Well, the simple answer is that there is a tradeoff between your annual medical insurance deductible and your monthly medical insurance premium. The higher your deductible, the lower your monthly premiums will be. The lower your annual deductible, the higher your monthly premiums will be.
Medical insurance deductibles are a variable cost. You pay them directly to the doctor on an as-needed basis. So it is your responsibility to budget for your deductible expenses.
So if you have a lower monthly premium and a higher deductible, then you need to be ready to shell out the cash to pay your doctors.
Conversely, if you have a higher monthly premium and a lower deductible, then your medical expenses will be much easier to budget for because they will be more fixed: You pay a higher premium, but it is a fixed monthly cost. And your deductible is much lower, so your variable expenses will be a lot cheaper and thus easier to budget for.
Article Source: http://EzineArticles.com/?expert=Howard_Kaufman
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