Health insurance deductibles can be quite hard to understand. Insurance plans do not give you a time period that it will take you to reach the deductible. If you are like a lot of clients, you may have confusion of how high your deductible should be and what your deductibles cover.
MARKET PLACE PLANS INCLUDE DEDUCTIBLE FREE PREVENTABLE SERVIES
The ACA made preventive health services cost free for individuals and families who are insured. This can be turn into long term savings for the state as a whole. This is because, those with serious medical problems can be addressed much sooner.
Even if you are an overall health individual, having access to cost free preventative health services and check-ups is an advantage.
HIGH DEDUCTIBLE PLANS ARE CHEAPER AND RISKIER
Typically, the higher the deductible is, the lower your monthly payment will be. Unfortunately, this does not always mean that you are saving money in the long run.
Some plans come with an annual deductible of up to $10,000. That is an absurd amount of money.
With that said, not all medical expenses are factored into your deductible. Cosmo always provides our clients with an easy to understand layout of exactly what your plan includes.
SILVER PLANS OFFER THE BEST BALANCE
Silver plans are perfect for individuals and families who qualify for cost-sharing reductions (premium tax credits). Unlike Bronze-tier plans, the annual deductibles for Silver plans are significantly lower (around $1,500 to $3,000 in many cases), and the copayments are also lower.
When shopping for health insurance, shop smart.
Don’t be deceived by insurance agencies allowing them to sell you plans from their preferred carriers so that they can clinch the sale and leave you with obstacles to solve.
When you reach out to Cosmo, our health insurance brokers in New Jersey spend all the time necessary to determine what your needs and priorities are. We are independent and offer plans from a large spectrum of reputable carriers. We explain your options in great detail and clarity– down to the fine print – so that you can choose a plan that will satisfy you for the long term.
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