![]() That insure or administer group HMO, dental HMO, and other products or services in your state). Group health insurance and health benefit plans are insured or administered by CHLIC, Connecticut General Life Insurance Company (CGLIC), or their affiliates (see Individual and family medical and dental insurance plans are insured by Cigna Health and Life Insurance Company (CHLIC), Cigna HealthCare of Arizona, Inc., Cigna HealthCare of Illinois, Inc., Cigna HealthCare of Georgia, Inc., Cigna HealthCare of North Carolina, Inc., Cigna HealthCare of South Carolina, Inc., and Cigna HealthCare of Texas, Inc. In addition to saving you money, finding the right plan for you can help ensure that you’ll receive coverage for the health care you need, when you need it.įind an in-network doctor, dentist, or facility ![]() If a chronic health condition means that you go often to your primary care provider (PCP) or specialists during the plan year, you must decide if savings from low premiums are greater than the cost of regular care or medication.Ĭarefully weighing the pros and cons of high-deductible health insurance may help you find the coverage that’s right for you.If you’re healthy and usually go to the doctor once a year, a lower monthly premium may be a good choice for you.How to Choose an Insurance Plan That’s Right for YouĬonsider the following when choosing a health plan: Are you likely to require medical care above and beyond preventive? If so, an HDHP plan with a lower monthly premium may not necessarily be an advantage-a more traditional plan with a higher premium and lower deductible might offer you improved cost savings. When choosing between a high-deductible health plan and a more traditional one, consider your anticipated health needs. Depending on your medical needs, these costs could be significant out-of-pocket expenses that you may not have planned for. ![]() Costly out-of-pocket medical expenses: If you choose a high-deductible health plan and need non-preventive medical care, or costly medical care, you will have to pay all of your deductible before your plan begins to help you pay for covered costs.The exception is for preventive care, which is covered at 100% under most health plans when you stay in-network. Higher deductible: If your deductible is higher it means you are required to pay for your medical care out of pocket up to that amount before your health plan begins to help pay for covered costs.The money deposited into an HSA is tax-free, which can also help you save money. You can use the funds in an HSA to help pay for eligible medical expenses. Tax-free spending account: Some qualified high-deductible health plans may be paired with a Health Savings Account (HSA). ![]() If you anticipate only needing preventive care, which is covered at 100% under most plans when you stay in-network, then the lower premiums that often come with an HDHP may help you save money in the long run.
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