Saving Money on Medigap Policies: High-Deductible Plans

To save money on your Medigap policy you may have to make some concessions when it comes to the amount you are willing to pay out-of-pocket after a claim. High-deductible health plans are one way that you can do this and if you don’t have to go to the doctor often this could be the place for you. Here is some more information about high-deductible health plans that you may be interested to know.

If you buy Medigap Plan F with a high-deductible option, you must pay the first $2,070 (in 2012)
of deductibles, copayments, and coinsurance not paid by Medicare before the Medigap policy pays anything. You must also pay a separate deductible ($250 per year) for foreign travel emergency services. This can be scary and intimidating, but if you don’t have to go to the doctor often it could save you money.

Paying premiums on policies that you don’t use can become expensive and unnecessary after a while, meaning that you will lose money in the long run. Discussing your options with a potential insurer can sometimes help you think of the positives and negatives of each of the different Medigap plans. It is very possible that the best option for you could be to get into a high-deductible health plan.