Medical Insurance, No Deductible
November 27th, 2009Health insurance with no deductible is often not as good of a deal as it sounds. These plans are often overpriced and/or designed to be misleading. It is important to know whethera no deductible health insurance policy is a good deal or not.
Zero Deductible PPO Or HSA Which Is Better?
Private health insurance with no annual deductible can be very pricey. Although these plans can be much better plans than medium deductible or high deductible plans, it doesn’t mean that they are better after the cost is considered. Very often a high deductible HSA policy will be a better buy.
If you are comparing a no deductible health insurance policy with a high deductible policy and the zero deductible policy costs $500 a month less, your question should not be “which one is better?” it should be “is the more expensive plan $6000 a year better?”
Don’t forget about insurance coinsurance and co-pays!
0 deductible health insurance policy isn’t necessarily a 0 cost share insurance plan. A no deductible health insurance policy can have co-pays. It can also have coinsurance. These cost-shares can, on many policies, be quite substantial.
Medical Insurance with no Deductible is available from Aetna in Connecticut. Because of the policy’s coinsurance limit, this plan has a high out of pocket maximum that one needs to be aware of when comparing it with other policies. Low cost no deductible health insurance in Georgia is no different. You need to know how a policy’s coinsurance and copays work before making a final decision.
Make sure that you understand how to compare policies with different deductibles and prices. Make sure you know about the other things you might have to pay for on a no deductible health insurance policy. Only when you understand the whole story can you whether a zero deductible plan is better than an HSA policy or some other high deductible or medium deductible medical insurance policy.