Today there are various health insurance plans that can suit your needs perfectly. The idea is to use a plan that will be practical for your case and also affordable.

If yours is to try and find one that has lower monthly bills, the best thing is to go for the high deductible plan. It minimizes the monthly payments even though the amount would increase on what is paid as claim. It works in this manner.

This name would suggest that this health insurance plan has a high deductible and that is right. It is because the deductible or the money you are supposed to pay from your pocket for a health insurance claim is what is referred to here.

For instance, if your deductible is $1,000 the medical bills would not start to be paid until you have parted with $1,000. Higher deductible is indeed the one that will require lower monthly payments which of course at the point of placing your claim it will be cheaper. This calls for a balancing act between risk and reward.

That is why it is suggested that you deposit your deductible sum into a savings account and only reach for it when the need arises. It is the best way to take advantage of the high deductible health plan rather than take a bigger risk.

Sometimes it might not be easy for you to save this amount, so it is better to use your insurance on as few occasions as possible. It means you would not need to keep covering the cost of the deductible all the time but could only do so when it is dead serious.

You would minimize the amount needed to be paid on your high deductible plan if you can bundle it together with your other insurance pans like auto and home owners policies instead of doing each separately.

You could also try to lower the limits of the policy to what is more affordable and suitable for your real needs.

Aside from health plans, this author additionally frequently shares knowledge on high deductible health plan and health insurance premium.