Consider deductibles when choosing your medical coverage

Medical Coverage

There are many medical coverage plans available and many factors to consider when choosing one. One of the most important factors in choosing medical coverage is the amount of deductibles that are solely the patients responsibility. Although you may be offered many treatment options through your medical coverage, you may have to reach a certain deductible amount each year, before that coverage begins. There are also deductible payments required when making doctor visits or when having medical tests done. Also, when getting a prescription form your doctor, you should take your deductible into account as each prescription will have a different deductible.

While your blood pressure medication may have a deducible of $100, the same generic version may only have a deductible of $10. Deductibles can be confusing and expensive, especially if you are not aware of how the process works. You can save money in the long run, if you learn about your medical coverage and its deductibles policies.

You medical coverage plan may cover your doctors visits at different rates once you have reached your minimum deductible for the year. In other words, your medical coverage may change depending on how frequently you visit the doctor or require medical care and prescription coverage. As an example, you may have to pay in full for you first $5000 in medical treatment. After you have reached that deductible, your medical coverage may increase to 75%, leaving you responsible for the remaining 25%. However, after you have spent $10,000, you may be covered by your medical coverage plan at 100%. This can get quite expensive, especially if you are not aware of it ahead of time and do not take advantage of lower deductibles when possible.

Some medical coverage plans require the patient to pay a deductible for every office visit. In other words, you may have to pay $30 for each visit to the doctor. However, these plans do not usually require a deducible for visits to radiology centers or blood work labs. It is important to realize that deductibles are a part of the cost of your medical coverage plan.

The patient can also be responsible for a deductible when getting prescriptions. Each medication will be covered by your medical coverage plan at a different rate. It can be valuable to find out your deductible rate before getting a prescription from your doctor. Some generic drugs can be significantly cheaper and just as effective as their brand name counter parts.

Deductibles can be confusing. However, it is important that you understand each medical coverage plans deductible policies before you choose your plan. Before choosing your medical coverage, carefully consider the cost or your plan, in addition to the cost of your deductibles. It may be advantageous to choose a cheaper plan with higher deductibles if you do not anticipate any medical issues. However, if you choose this option, be sure that you have cash available to cover any deductibles that you may have to pay. If however, you know that you will require frequent doctors visits and medication, it would be best to choose a more expensive plan with lower deductibles.