High-deductible health plans are a great option for healthy individuals who want to make their health coverage work better for them.
At first, “high deductible” might sound intimidating. We’re here to simplify things and show you why it might be a game-changer.
Let’s imagine you’re at a casino, and you’ve got $1,000 to spend. You have two options: You could put that money down upfront (as in a LOW DECUCTIBLE with regard to insurance) and play it safe, or you could take a bit of a risk and put only $100 down (as in a HIGH DEDUCTIBLE with regard to insurance) and keep the rest in your pocket.
If you’re healthy and don’t expect many doctor visits or health expenses soon, that HIGH DEDUCTIBLE plan starts looking appealing. You’ve still got $900 in your pocket to use as for other things throughout the year.
With high-deductible plans, you’re essentially betting on your good health. Since you’re not using much of your coverage, you get to keep more of your money. It’s like making a smart investment with your health care dollars.
But remember, this strategy isn’t for everyone. If you have ongoing health conditions or expect significant medical expenses, a LOW DEDUCTIBLE plan might be the better choice.
So before you make a decision, be sure to explore the details of the plans available to you by logging into our ICHRA platform. Then schedule a call with one of our Enrollment Agents to ensure your choice aligns with your health and financial goals.
