Welcome to InsuranceForums.info!   

Advertisments:


Sponsor Links

Affordable Pet Insurance
Travel Insurance Comparison


Why Are Health Insurances Deductables So High?

Health Insurance topics including Obamacare & Health Insurance quotes

Why Are Health Insurances Deductables So High?

Postby Gobha » Tue Oct 10, 2017 11:18 am

Health insurance companies are in the business of making MONEY; providing health insurance is a side-line.
To make money, they have to limit their payouts.
A woman getting pregnant is almost a guarantee.
So the risk of a payout is very high.
Insurance companies evaluate the risk of payout and price their plans and premiums and deductibles accordingly.
Maternity coverage, catastrophic coverage are either high risk of high cost if a payout has to be made.
So those are either limited or you need to buy a rider at extra premium cost.

Dental insurance is another almost guaranteed payout, so that insurance is offered as an add-on.
But it really isn't insurance.
You pay in advance for care before you receive it.
You have limited coverage (cleaning, xray and maybe a filling or two) for the 1st two years, but you pay about $80/mo during that time. After 2 years ($1730), then you start getting more advanced care.
But there are deductibles for your visits.
Example: I had a crown that cost me $1000 with a $50 deductitble.
1 year's worth of premiums costs $960, add the deductible and I've paid just over that $1000 cost.


Group plans (through employers) share the risk over a larger number of people who contribute a larger amount of money into the payout pool.
Individual plans are very expensive comparatively.
There's no "share the risk" option.
Gobha
 
Posts: 44
Joined: Sat Apr 05, 2014 5:22 pm

Why Are Health Insurances Deductables So High?

Postby Coughlan » Tue Oct 10, 2017 5:16 pm

Our deductables were 3,000 dollars!
Coughlan
 
Posts: 61
Joined: Tue Dec 31, 2013 6:50 pm


Return to Health & Medical Insurance

 


  • Related topics
    Replies
    Views
    Last post
cron