What’s on your mind?
Posted by Michele W. on Tue, Sep 22, 2009 @ 10:15 AM
Odds are health insurance wasn’t the topic of your last Facebook status update. After all, you’re young and probably pretty healthy. So, should you be concerned? Being covered for the unexpected things that happen in everyday life is important.
Today, it can be easier than you think to find an affordable individual health insurance plan with low monthly premiums to fit the budgets of those just starting new careers.
Deductibles, coinsurance, premiums... these aren’t just things you hear other people talk about. What you pay for the coverage you need depends on what type of cost sharing you choose. A multitude of coverage options and combinations are available. A lower monthly premium can be achieved by choosing a higher annual deductible (the amount you would pay before your plan pays benefits). Don’t be afraid to choose a higher annual deductible, especially if you are healthy. A higher deductible will save you money.
Which coinsurance you choose can also affect your monthly premium. The 70/30% coinsurance option has become a popular choice. With this newer option, in addition to well known 80/20% coinsurance, consumers are now able to further customize a plan that meets their insurance needs as well as their pocket book.
Plus, just think how much better mom will sleep at night knowing you’re covered.