How to Lower Health Insurance Deductibles

The deductible is an ominous figure in terms of a health insurance policy. Any policy holders who scratch below the surface of plan specifics know that the deductible is the amount a member must pay before the company will send any money in response to a claim. In may cases, the deductible is higher than the policy holder can afford. There's no quick fix to lowering deductibles, but there are things a savvy consumer can do to make an effort to get these costs under control.

Instructions

Difficulty: Challenging

1. For self-paying insurance policy holders, shopping around is a must. Comparing insurance policies will help you find low-deductible options. Plans on the market vary so much that almost anyone can find savings by taking the time to research opportunities. This is not to say that everyone can find low-deductible plans for good prices, but most people can generally bring their rates down at least a little.
2. Ask your employer to pitch in. If you are covered by your employer, you probably don't have the freedom to shop around for plans. If your employer's plan has a high deductible, try to involve yourself in the process by petitioning your bosses for a better plan or some supplemental health care vouchers. Explain to your employer that the employees cannot afford to meet high annual deductibles on their wages and in addition to possibly high premiums. See what reply comes back from management.
3. For self-purchased plans, try an easy plan change. Call up your representative by using the number located on your insurance card. Ask if there are any plans similar to yours that contain lower deductibles. There may be comparable plans that kick in sooner, saving you deductible costs by trading away other aspects of the plan.
4. Pay a higher premium. According to the general basic math of health insurance, getting a lower deductible means paying a higher premium. Payers of high premiums get better coverage against claims; that's the way the business works. But in reality, it's just shuffling costs around. Find ways to beat this game and get low-deductible plans at a lower cost by good collective bargaining, at work or on your own.
5. Contact your legislative representatives. The long-term way to get your deductibles down? Rally around the country for better federal and state policy that covers and insures Americans, protecting consumers from sky-high medical costs and not just getting individuals or families to keep paying high premiums in exchange for little coverage. Lowering all of our deductibles starts by getting involved in higher level policy making, by putting the policies of health care companies through the court of public opinion.