What happens if i change my health insurance deductible now?

Question

so, i just got a letter from my insurance company telling me my bill will go from $307 to $332 and i have the option to change from a $500 to a $1000 deductible so my bill will be $285/mnth...

my question is... i already met my $500 deductible so will i have to start all over and pay the $1000 or just another $500??

Answer 1

you will only have to pay the extra 500. come january 1, it will start all over again.

you need to keep in mind that the out of pocket maximum (the most you pay before you are covered 100%) will also increase. you need to find out what that figure will be if you switch plans

Answer 2

Your question is not likely to be answered in one word.find useful tips here though.http://health-insurance.expert-tip.info/...

Answer 3

You should only have to pay the additional $500.

However, be sure and call your insurance agent or insurance company directly to make sure.

You should also be sure and shop around every 6 months or so to compare rates. Health insurance rates change often so it makes sense to shop around as long as you are looking at reputable companies.

Here is some more information on finding a cheap health insurance plan:

Answer 4

Most "quality" insurance carriers will allow your current met deductible to be credited to your $1000 deductible.  I think it is also important to point out that "quality" carriers will allow your out-of-pocket expenses to transfer as well.  Call the number on the back of your card and if they wont let you do those two things I would recommend getting a different plan.

Answer 5

Probably just another $500.