There are some things you can do to get affordable health insurance quotes for individual and family. This may mean paying more on your regular visits to the doctor, however it can prevent you from being stuck with several thousand dollars worth of bills hospital bills in the event of an emergency. Let’s take a look at how this is done.
One of the best ways to make health insurance coverage more affordable is by raising your deductible. The deductible is the amount of money that you must pay out of pocket each year before your insurance will take over the payments for you. Example, let’s say that you were riding your bike and you got in an accident which resulted in you breaking your arm. In this case you would pay for the deductible amount out of pocket and the insurance would pay the difference, if the amount exceeded the deductible.
A deductible is usually set at any were from $100-$5000 or more. The lower your deductible is, the higher your insurance premiums will be. Let’s do one more example just to make certain that you understand how this works. Let’s say that your deductible was $1000 and you got in the accident as described above. Let’s say the total costs for you being seen, having x-rays done, seeing a doctor and getting taking care of were $2000. In this example you would pay $1000 out of pocket and the insurance company would pay the other $1000.
By choosing a higher premium you can substantially lower your insurance costs. However, it’s still a good idea to have money in the bank in the event that paying the costs of seeing your doctor becomes a financial hardship. You’re basically saving money for a rainy day. Most medical emergencies are rare, therefore as long as you have the amount of your deductible set aside in the event of an immediate need, you shouldn’t have any problems at all. By being willing to carry a higher deductible you should have no problem finding affordable health insurance quotes for individual and family.
