Am I the only one who gets annoyed when people say they found cheap insurance but then admit they just have a high deductible plan with no coverage for anything?

I had a buddy brag about paying $180 a month for a plan last year, but when he actually needed an MRI it didn't cover a cent until he hit a $7,000 deductible, and now I triple check every plan's deductible before I even look at the monthly price.

2 comments

2 Comments

abbyhall2d agoTop Commenter

Tripled checked everything before I signed up for my last plan after getting burned the same way. Ended up with a slightly higher monthly payment but a $1,500 max deductible and actual copays for doctor visits and prescriptions. Ran the numbers on what I spent last year on healthcare and it was way cheaper overall than what I would have paid with that bare bones high deductible garbage. Learned the hard way that cheap monthly premiums usually mean you're screwed if anything actually happens. Now I look at the summary of benefits first, not the price tag, because saving $50 a month means nothing when a single ER visit costs you thousands.

rowan_ross2d ago

That's the trap with a lot of things these days. Everyone looks at the upfront cost and ignores the fine print, whether it's insurance, phone plans, or car warranties.