Kate Ashford

You just have to make sure you have the money to handle that higher deductible upfront. And if you don't have the cash on hand, if a health emergency strikes, a high deductible plan is not a great idea for you.

You just have to make sure you have the money to handle that higher deductible upfront. And if you don't have the cash on hand, if a health emergency strikes, a high deductible plan is not a great idea for you.

You just have to make sure you have the money to handle that higher deductible upfront. And if you don't have the cash on hand, if a health emergency strikes, a high deductible plan is not a great idea for you.

It can feel scary. I've had a high deductible plan for a number of years now. And those first few checks at the beginning of the year before you hit your deductible, it feels like a lot of money. And you really have to keep the whole year in mind because over 12 months, it's the cheaper thing. But those checks up front, it really is a scary feeling.

It can feel scary. I've had a high deductible plan for a number of years now. And those first few checks at the beginning of the year before you hit your deductible, it feels like a lot of money. And you really have to keep the whole year in mind because over 12 months, it's the cheaper thing. But those checks up front, it really is a scary feeling.

It can feel scary. I've had a high deductible plan for a number of years now. And those first few checks at the beginning of the year before you hit your deductible, it feels like a lot of money. And you really have to keep the whole year in mind because over 12 months, it's the cheaper thing. But those checks up front, it really is a scary feeling.

All the terms. So co-pay is usually a fixed amount you pay every time you see a doctor or specialist. So your plan might have you pay $25 every time you see your primary care doctor and $50 every time you see a specialist. Co-insurance is what it's called when you pay a percentage of the costs of a covered service, usually after you've met your deductible.

All the terms. So co-pay is usually a fixed amount you pay every time you see a doctor or specialist. So your plan might have you pay $25 every time you see your primary care doctor and $50 every time you see a specialist. Co-insurance is what it's called when you pay a percentage of the costs of a covered service, usually after you've met your deductible.

All the terms. So co-pay is usually a fixed amount you pay every time you see a doctor or specialist. So your plan might have you pay $25 every time you see your primary care doctor and $50 every time you see a specialist. Co-insurance is what it's called when you pay a percentage of the costs of a covered service, usually after you've met your deductible.

This tends to kick in for things like x-rays. So if you hit your deductible, you would owe 20% of the cost of the x-ray and your insurance covers the rest.

This tends to kick in for things like x-rays. So if you hit your deductible, you would owe 20% of the cost of the x-ray and your insurance covers the rest.

This tends to kick in for things like x-rays. So if you hit your deductible, you would owe 20% of the cost of the x-ray and your insurance covers the rest.

Yeah, unfortunately, you really do have to do the math. You have to look at all the things. How much are the premiums for the full year? If it's a high deductible plan, does your company give you an HSA contribution? Is there a plan deductible and what is it? What's the out-of-pocket maximum, which is the most you could spend in covered care in a year? That's important.

Yeah, unfortunately, you really do have to do the math. You have to look at all the things. How much are the premiums for the full year? If it's a high deductible plan, does your company give you an HSA contribution? Is there a plan deductible and what is it? What's the out-of-pocket maximum, which is the most you could spend in covered care in a year? That's important.

Yeah, unfortunately, you really do have to do the math. You have to look at all the things. How much are the premiums for the full year? If it's a high deductible plan, does your company give you an HSA contribution? Is there a plan deductible and what is it? What's the out-of-pocket maximum, which is the most you could spend in covered care in a year? That's important.

If you have a big health event, you could hit that. And you probably should estimate, based on what's happened in the past, how many times you typically see the doctor or a specialist and what kinds of things might pop up. Do you have a kid who plays sports? Maybe figure for at least one x-ray. Even a ballpark figure here is helpful.

If you have a big health event, you could hit that. And you probably should estimate, based on what's happened in the past, how many times you typically see the doctor or a specialist and what kinds of things might pop up. Do you have a kid who plays sports? Maybe figure for at least one x-ray. Even a ballpark figure here is helpful.

If you have a big health event, you could hit that. And you probably should estimate, based on what's happened in the past, how many times you typically see the doctor or a specialist and what kinds of things might pop up. Do you have a kid who plays sports? Maybe figure for at least one x-ray. Even a ballpark figure here is helpful.

Then you can do some rough math for what that kind of care would cost you under each plan. If you're totally stumped, you can log into your account for your current health coverage and take a look at the claims you've had this past year. My health plan has an app. I can look up my claims there or log onto their website. I'm not going to sugarcoat it. You do have to get into the weeds on this.

Then you can do some rough math for what that kind of care would cost you under each plan. If you're totally stumped, you can log into your account for your current health coverage and take a look at the claims you've had this past year. My health plan has an app. I can look up my claims there or log onto their website. I'm not going to sugarcoat it. You do have to get into the weeds on this.