People select health insurance plans based on a host of factors. When you’re young you know your chances of falling sick are less because you are healthy. But you know that you may be prone to sickness as you grow older. So you need to be very careful when you choose your health insurance plan. You may benefit when you go for a high deductible depending your health and economic conditions. The biggest benefit you get to derive from a high deductible health plan is that you stand to save a lot of money by way of reduced premium. But when you happen to get treated for an emergency care, the case may be different. Since you actually don’t know when you may fall into an emergency, it’s always based on presumptions that you take a high deductible health plan. Remember, when you have such a plan it’s wise to keep out routine visits to doctor out of the deductible. Similarly, prescriptions also may not be part of the deductible. When you have a high deductible health plan, you may have to hold a health savings account. As long as the money from the account is used to meet your health care expenses, it’s not taxable.
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