{"id":1162,"date":"2011-06-11T10:30:41","date_gmt":"2011-06-11T14:30:41","guid":{"rendered":"http:\/\/www.internationalstudentinsurance.com\/blog\/?p=1162"},"modified":"2019-01-24T10:20:49","modified_gmt":"2019-01-24T15:20:49","slug":"what-deductible-to-pick-when-buying-health-insurance","status":"publish","type":"post","link":"https:\/\/www.internationalstudentinsurance.com\/blog\/2011\/06\/what-deductible-to-pick-when-buying-health-insurance.html","title":{"rendered":"What deductible to pick when buying health insurance"},"content":{"rendered":"

<\/p>\n

When purchasing a medical insurance plan, many times you will have the option of choosing what deductible you want to have on your plan. Many people often ask me when buying health insurance \u201cwhat deductible I should pick?\u201d<\/p>\n

The answer will depend on your own personal situation. But first, you need to have a better understanding of what is a deductible<\/a>. There are some things you should consider when choosing a deductible while purchasing health insurance.<\/p>\n

– How much premium can you afford and how much of a deductible can you pay if you incurred claims? Having a deductible is like you sharing financial risk if you get sick or injured with the insurance company, a higher deductible means you are putting more financial risk on yourself because if you get sick you would pay more towards any medical bills upfront. As a benefit for having more upfront financial responsibility of your claims, the cost of your insurance plan will be less.<\/p>\n

– Since higher deductibles mean lower premiums, then consider your budget, you can save money now by choosing a higher deductible, but keep in mind what you can afford if something major does happen. You will have to pay your deductible before the insurance makes any payment for claims.<\/p>\n

– If you need health insurance to apply for a visa to travel to other countries or to register with an organization like a University, make sure to verify any medical requirements with the organization prior to purchasing. You may have to choose a particular deductible or coverage amounts in order to meet their requirements.<\/p>\n

\n

What deductible do <\/del><\/span>to <\/ins><\/span>pick when buying health insurance<\/p>\n

When you want to buy a<\/del><\/span>purchasing a<\/ins><\/span> medical insurance plan, many times you will have the option of choosing what deductible you want to have on your plan. Many people often ask me when buying health insurance \u201c<\/ins><\/span>what deductible they <\/del><\/span>I <\/ins><\/span>should pick.<\/del><\/span>?\u201d<\/ins><\/span><\/p>\n

The answer will depend on your own personal situation. But first, <\/ins><\/span> <\/del>you need to have a better understanding of what is <\/del><\/span>a deductible is<\/ins><\/span>. Once you know what a deductible is here <\/del><\/span>There <\/ins><\/span>are some things to <\/del><\/span>you should <\/ins><\/span>consider when picking <\/del><\/span>choosing <\/ins><\/span>a deductible while buying <\/del><\/span>purchasing <\/ins><\/span>health insurance.<\/p>\n

– <\/span><\/span>How much risk you want to have on yourself<\/del><\/span>premium can you afford and how much of a deductable can you pay if you <\/ins><\/span>incurred<\/ins><\/span> claims?<\/ins><\/span>.<\/del><\/span> Having a deductible is like you sharing financial <\/ins><\/span>the <\/del><\/span>risk of <\/del><\/span>if <\/ins><\/span>you getting <\/del><\/span>get <\/ins><\/span>sick or injured with the insurance company, a higher deductible means you are putting more <\/del><\/span>more financial <\/ins><\/span>risk on yourself since <\/del><\/span>because <\/ins><\/span>if you get sick you would pay more towards<\/ins><\/span> your <\/del><\/span>any <\/ins><\/span>medical bills upfront<\/ins><\/span>. As a reward <\/del><\/span>benefit <\/ins><\/span>for having more upfront<\/ins><\/span> <\/ins>responsibility<\/del><\/span>financial responsibility<\/ins><\/span> sharing more of the risk<\/del><\/span>of your <\/ins><\/span>claims<\/ins><\/span>, the cost of buying <\/del><\/span>your insurance plan will be less.<\/p>\n

– <\/span><\/span>To go along with the first point,<\/del><\/span>Since <\/ins><\/span> the <\/del><\/span>higher the <\/del><\/span>deductibles<\/ins><\/span> you <\/del><\/span>mean <\/ins><\/span>have the <\/del><\/span>lower the <\/del><\/span>premiums<\/ins><\/span>, <\/ins><\/span> <\/del>to buy the plan. So<\/del><\/span>then<\/ins><\/span> consider your budget, you can save money now by choosing a higher<\/ins><\/span> deductible, but keep in mind your <\/del><\/span>what you can afford if something major does happen.<\/ins><\/span> as well.<\/del><\/span> You will have to pay your deductible before the insurance makes any payment for claims.<\/ins><\/span><\/p>\n

– <\/span><\/span>If you need health insurance to apply for a visa to travel to other countries and <\/del><\/span>or <\/ins><\/span>to register with an organization like a University, make sure you <\/del><\/span>to <\/ins><\/span>check<\/del><\/span>verify any medical requirements<\/ins><\/span> with your <\/del><\/span>the <\/ins><\/span>organization prior to purchasing.<\/ins><\/span> <\/ins>to know if you must<\/del><\/span>You may have to <\/ins><\/span> <\/del>choose a particular deductible or coverage amounts in order <\/ins><\/span>to meet their requirements<\/ins><\/span>.<\/p>\n<\/div>\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

When purchasing a medical insurance plan, many times you will have the option of choosing what deductible you want to have on your plan. Many people often ask me when buying health insurance \u201cwhat deductible I should pick?\u201d The answer will depend on your own personal situation. But first, you need to have a better […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[107,103,106],"tags":[674,677,676],"class_list":["post-1162","post","type-post","status-publish","format-standard","hentry","category-health-and-safety","category-insurance-explained","category-product-information","tag-deductible-explain","tag-high-or-low-deductible","tag-what-deductible-to-choose"],"_links":{"self":[{"href":"https:\/\/www.internationalstudentinsurance.com\/blog\/wp-json\/wp\/v2\/posts\/1162","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.internationalstudentinsurance.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.internationalstudentinsurance.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.internationalstudentinsurance.com\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.internationalstudentinsurance.com\/blog\/wp-json\/wp\/v2\/comments?post=1162"}],"version-history":[{"count":4,"href":"https:\/\/www.internationalstudentinsurance.com\/blog\/wp-json\/wp\/v2\/posts\/1162\/revisions"}],"predecessor-version":[{"id":5496,"href":"https:\/\/www.internationalstudentinsurance.com\/blog\/wp-json\/wp\/v2\/posts\/1162\/revisions\/5496"}],"wp:attachment":[{"href":"https:\/\/www.internationalstudentinsurance.com\/blog\/wp-json\/wp\/v2\/media?parent=1162"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.internationalstudentinsurance.com\/blog\/wp-json\/wp\/v2\/categories?post=1162"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.internationalstudentinsurance.com\/blog\/wp-json\/wp\/v2\/tags?post=1162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}