For many relatively health individuals and families, choosing a health insurance plan with low monthly premiums and a high deductible can be beneficial. If you don’t end up visiting the doctor’s office very often, you won’t be liable for much of your deductible. If, however, you have unexpected medical costs due to an emergency or similar medical event, Healthcare Finance Solutions can help you cover those bills.
A Plan Overview
With the Affordable Care Act, more individuals have access to health insurance than ever. Today, there are many viable options for consumers on the Health Insurance Marketplace. There, you will be able to browse several different types of plans and their related pricing.
For families who expect some visits to the doctor’s office, they may opt for a higher monthly premium, but a lower deductible. As such, they are responsible for less of the overall medical expenses. Even in these situations, individuals may still have co-insurance obligations after they have met their designated deductible. In these circumstances, individuals are still responsible for a portion of the medical bill. Depending on the plan you choose, this portion may vary.
For individuals or families who don’t expect very many medical bills in the upcoming year, it may be smart to choose a plan with a low monthly premium and a high deductible. In this case, the individual will only be responsible for the premium if they never visit the doctor. As we all know, however, accidents and emergencies happen. When you have a health insurance plan such as this, that only covers catastrophes, you may be left to pay a significant deductible.
How Healthcare Finance Solutions Can Help
When you experience an unexpected medical bill, you may be wondering how you can possibly afford it. Whether you were in a car accident, needed surgery, or simply had many doctors’ visits, the bills can add up quickly. Additionally, even with health insurance, there are gaps in coverage for things like dental work, fertility treatment, hair replacement therapy, and cosmetic surgery.
Letting these bills go to collections can be a costly mistake. You may need to hire a lawyer and incur additional expenses if it becomes litigious. Additionally, filing for bankruptcy to get rid of your medical bills also has many negative consequences. If you even qualify for bankruptcy, it will ruin your credit. Furthermore, bankruptcy is only a temporary Band-Aid on the issue, if you incur more expenses in the future, that debt can pile up quickly.
For the best option in paying your medical expenses, contact Healthcare Financing Solutions today. We can help you get the right loan that meets your specific needs and requirements. Call now to see how we can help.