I get this question a lot. I do not want a high deductible that I cannot pay, but I do not want to pay a high premium either. This is a common question and kind of requires a balancing act.
Here is what I reccommend to my clients. I try to do a “total package”. Depending on your age and health history. Most of my clients will go with either a $2500 or a $5000 deductible health insurance plan. Then what I like to do is wrap an accident plan and a critical illness plan to it. What an accident plan does is covers up to $5000 if you have an injury or accident (injury your knee playing basketball and need surgery for example). The accident benefit covers your deductible and then the major medical insurance kicks in. Not a bad strategy. A critical illness will pay you a lump sum of money, if you were to have a heart attack, stroke or life threatening cancer. I usually will do at least $10,000 here. That will cover the deductible and put some cash in your pocket. It is a smart thing to do. The accident is more likely to happen and the Critical is the most financially cripling.
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