More Consumers Choosing High Deductible Plans for Their Health Insurance in Texas Needs

Posted on February 3, 2012 by Charles F Peeler Jr

Well, here we are into a new year and health insurance premiums are still on the rise. The truth is, the cost of medical care is expensive and only going to get worse. What are Texasfamilies doing to save a few dollars? Many are choosing to give high deductible health insurance plans a second look. As a way to save money on out-of-pocket-expenses to reduced premiums, more consumers are choosing high deductible plans for their health insurance in Texas needs.

Why High Deductible?

Why would someone choose a high deductible plan when they can pay less? Simple. In exchange for paying a higher deductible, premiums are much lower. In other words, you can pay less every month for the same comprehensive coverage that you would expect from a traditional doctor copay plan. The difference is that you don’t have to pay the costly copays every time you visit the doctor. Once you meet your deductible, most services are covered 100%. That means doctor’s visits, outpatient services and even emergency care with no copay. Besides, you still have preventive care benefits covered at 100% – even before the deductible is met. And if you’re healthy and don’t go to the doctor often, the reduced monthly premium will really begin to save you some money.

The Health Savings Account (HSA) as an Option

One of the most popular high deductible plans today is the Health Savings Account (HSA). These are plans that give you the most flexibility in terms of how you’re health care dollars are being spent. It works like this- after purchasing a qualified high deductible health insurance plan, you are eligible to open a separate medical IRA savings account. The benefits of this account are tremendous, giving you the opportunity to save tax free money that rolls over year after year. The money you contribute can be used for anything medically related and will continue to grow tax free as long as you carry your high deductible plan. As an opportunity to get the most value out of your health care dollar, the HSA is a great investment. Also note there is no requirement to open the savings account portion of the concept, the plan would then just be a traditional catastrophic medical plan.

Who Offers These Plans?

Basically, the same major carriers that you know and trust like Humana or Blue Cross Blue Shield of Texas offer qualified high deductible plans with Health Savings Accounts. With the same great services that you’ve come to trust, you can save money and rest assured that your health insurance needs are covered. HSA plans may be new to the insurance world, but the dependable, reliable coverage from the companies you know and trust is exactly the same.

For Texans looking to save money and get the best value out of their health care dollar, high deductible plans offer some relief. A great way to pay reduced premiums and save on out-of-pocket expenses,  high deductible plan give you a little breathing room while still providing the dependable, reliable coverage you’ve come to trust. 

For more information on high deductible health insurance in Texas or to obtain a live quote visit our website.

Posted in Uncategorized | 1 Comment