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Calculate Your Savings with a Higher Versus Lower Deductible Plan

By managing the trade-offs between premium and benefits, you can better meet your budget.

Call our agents at 866-884-INFO Monday - Friday 8am - 5pm CT. Our agents will walk you through using the worksheet below to find a plan that best meets your needs.     Print Worksheet Compare your premium Low Deductible Plan annual premium High Deductible Plan annual premium Savings     Compare your out-of-pocket High Deductible Plan OOP Low Deductible Plan OOP OOP Difference     Savings (Savings - OOP Difference)

Use this worksheet to write down the plan specifics your agent gives you.   Plan A Plan B Coinsurance       Copay       Deductible       Out-of-pocket (OOP) Maximum

This is an example of Comparing two sample health plans:

	Plan A	Plan B
	Low-deductible copay plan	High-deductible plan
Coinsurance	80/20 (we pay 80%, you pay 20%)	100%
Copay	$25 Doctor Office Copay (unlimited)	No Copay (subject to coinsurance and deductible)
Deductible	$500	$5,000
Out-of-pocket (OOP) Maximum	$2,500 (includes deductible and 20% coinsurance to limit)	$5,000 (Deductible is out-of-pocket maximum)
Compare your premium              Printable Worksheet Low Deductible Plan annual premium High Deductible Plan annual premium Savings $5,400 - $2,556 = $2,840   Compare your out-of-pocket High Deductible Plan OOP Low Deductible Plan OOP OOP Difference $5,000 - $3,500 = $1,500 Savings ( Savings - OOP Difference) $1,340		Summing up the trade-offs Low-deductible Copay Plan You're paying a higher monthly premium for the convenience of a lower fixed cost for everyday needs. High-deductible Plan You're paying a lower monthly premium for expenses you might incur.
Rate is for illustration only.  Annually, you will save money with a higher deductible even if you use your plan to the fullest.

 

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Understanding the trade-offs between plans is a good way to see where you can save money. We can show you other options, too.
For more information about Assurant Health's plans, please call 866-884-INFO (866-884-4636) or contact your local insurance agent.

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