Health Insurance Policy and Deductibles
Reader’s Question:
My brother-in-law in Arkansas AR is talking big with the reduction of his health insurance premium up to 40%. According to him, by reducing his deductibles he was able to save on health insurance premiums. Is this really doable? If ever I’ve decided to follow him, what should I do?
Mark
Fayetteville, AR
Ops! The idea is good but don’t jump into it immediately. This is very much possible if and only if you have a very good health condition and health history together with a healthy life style, you can choose to lower down your premium rates and increase your own exposure. This is a common option offered by some insurance companies. But before you do this, try to meet first your insurance agent in Fayetteville Arkansas AR. Gather enough information regarding this idea. Know the pros and cons that you will encounter in the future. Remember people don’t like surprises, especially on expenses. Make your own personalized health insurance experience rating by compiling every three years the sum of your premiums and expenses out from your pocket.
The information from your personalize health insurance experience is very important when deciding to or not to increase the deductibles of your health insurance policy in Fayetteville Arkansas AR. If your current deductible is lower let say $200 and base on your history you should have a $1000 deductibles, then for sure your premiums would go down significantly. Another option that you could do is to build your reserves for emergency purposes. Health insurance companies in Fayetteville Arkansas AR would love to have a healthy client and this is what your brother-in-law chooses.