Is a High-Deductible Health Plan right for me? January 28 2016
Will it save me money?
That's the most important question when it comes to a high-deductible health plan (HDHP), and really all healthcare.
Also known as "consumer-directed health plans," HDHPs are great for cutting costs on your premium each month, but you may end up paying more if you have a lot of medical expenses. Most HDHPs have a deductible of at least $1,300, so if you know you'll be spending a lot on healthcare, you may want to steer clear.
However, for those who don't have ongoing health issues and want to save on their premium, a high-deductible health plan can be very beneficial. HDHPs are becoming more popular as employers and consumers try to cut their upfront costs. Many find the benefit of saving on the premium is worth the higher deductible. And many of these same people also take advantage of health savings accounts or flexible spending accounts, allowing them to save money on a tax-deferred basis.
The whole point of HDHPs is to save, but you may have to eat a lot of out-of-pocket costs before you reach your deductible. Here at Medquarters, we can help you save on some of those expenses by not filing through insurance, allowing us to offer products at a lower cost. You can get innovative new products through Medquarters at a more reasonable price than through your insurance coverage. Even better, after you purchase a product from Medquarters, depending on your health plan and insurance provider, you may be able to file a claim with your insurance on your own behalf. Click here to read more about filing an insurance claim.