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Can you have a high deductible insurance and be on another insurance plan too?
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∙ 11y ago
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∙ 11y ago
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Where can one find a high deductible health insurance plan?
There are a number of places where one could find a high deductible health insurance plan. Some businesses that offer high deductible health insurance plans include Aetna and United Healthcare.
Does Medicare plus choice msa require the establishment of a high deductible insurance plan?
No
What is deductible for?
When you have a deductible in your plan, before your insurance starts paying for the coverage, you have to meet the deductible after which the insurance starts paying its portion.
If you have met the deductible with your insurance company for the year and you change insurance companies in the same year do you need to satisfy another deductible with the new insurance company?
Not necessarily. It depends on the "Plan Year". For example, if your plan has a calendar year of January 1 through December 31, and by September 15 you have met your deductible, the new insurance carrier would have to issue a Deductible Credit Transfer because you have already met the deductible for the plan year. However, if the new plan has a plan year that runs from September 1, through August 31, then by September 15, your plan has already started to run and the deductible after September 1 only is the amount you can apply. YES
What is good about a high deductible?
You will have the lowest possible monthly premiums, but will have to satisfy the deductible before any insurance pays out. In some cases, the deductible can be a couple thousand dollars. One has to fully weigh the differences in the long run - it may be cheaper (and cause less headaches) to have a lower deductible insurance plan.
Is having a high deductible auto insurance plan in California cost effective?
A high deductible auto insurance plan is one of the best ways to save on the expense of policy premiums, which can be a real help to mitigate costs for California drivers. By raising the deductible amount, you sacrifice protection from minor damages like a broken windshield. But in return, you are still covered for major damages and your premium bill will be much lower.
What does hdhp mean?
It could stand for "Hippie Dan's Hewlett Packard. But, since this question is in the insurance section of Answers.com, you are probably looking for "high deductible health policy" A high-deductible health plan (HDHP) is a health insurance plan with lower premiums and higher deductibles than a traditional health plan. Participating in a "qualified" HDHP is a requirement for health savings accounts and other tax-advantaged programs. High-deductible health plan - Wikipedia, the free encyclopedia (21 December 2009) http:/enzperiodzwikipediazperiodzorg/wiki/Highzhyphenzdeductible_health_plan http:/snipurlzperiodzcom/tsjnn
What are the pros and cons of purchasing an insurance plan with a low deductible?
The pros to having an insurance plan with a low deductible would be that you do not have to pay as much money out of pocket if something happens and you need to use your insurance. The con of having a low deductible is that your monthly payment will be higher than if you had chosen a plan with a higher deductible. Generaly, if you are young and healty with very few trips to the doctor, go with a higher deductible. However, be sure you choose a deductible that you can afford to pay in the event something actually does happen to you.
High deductible health plans?
A high-deductible health plan contains certain minimum dollar limits on the annual deductible and maximum limits on the out-of-pocket expenses listed under the plan. An individual health care plan would be considered high-deductible if it has an annual deductible of at least $1,200. A plan for family coverage is considered high-deductible if it has an annual deductible of $2,400. Out-of-pocket expenses for 2011 may not exceed $5,950 for individual coverage and $11,900 for family coverage. Out of pocket expenses include deductibles, co-payments, etc. www.bankofkc.com /personal/hsa-faq.aspx
What is The dollar amount you have to pay before an insurance plan takes effect and the insurance company starts paying called?
deductible
What is a premium for auto insurance?
Your premium is pretty much your monthly bill, after deciding what type of deductible you plan on choosing. The higher deductible the lower your premium will be.
Who is eligible for a high deductible health plan?
A person is not eligible for an HSA if he or she is covered under a health plan that is not a high-deductible plan. A person remains eligible for an HSA if, in addition to the high-deductible health plan, the type of additional coverage is for:accidentsdisabilitydental carevision carelong-term careinsurance for a specified disease or illnessinsurance that pays a fixed amount per day (or other period) of hospitalizationinsurance under which the majority of coverage relates to liabilities from workers' compensation laws, torts, or ownership or use of property (such as auto insurance)bankofkc.com/personal/hsa-faq.aspx
