How to Get Cheap High Deductible Major Medical Insurance

A high deductible major medical insurance plan is a relatively new kind of plan that can save you money every month on your premium. If you're in the market for health care coverage, you should investigate whether a high deductible major medical plan is right for you.

What is high deductible major medical insurance?

These are plans that offer low-cost coverage for serious injuries or illnesses. With these plans you select the level of deductible you want, usually ranging from $500 to $10,000. You pay all your medical expenses until you reach the deductible. After that, your insurer pays your medical expenses, often up to 100%.

These plans are often coupled with a medical savings account, in which you regularly deposit funds to help cover your medical expenses until you meet your deductible.

Why choose a high deductible major medical plan?

The major reason for choosing this plan is that it can save you money on your monthly premiums. In fact, your monthly premiums can be half of what you would pay for a traditional health care plans.

If you do choose one of these plans, you need to be sure that you can afford to pay the full deductible should you have an accident or serious illness.