Understanding Deductibles & Premiums Before Open Enrollment Season

Open enrollment season gives individuals and families in Clute & Houston, TX a chance to reassess their health insurance coverage. Nolasco Insurance & Tax Services can help you weigh decisions around premiums, deductibles and other factors.

Premiums vs. Deductibles: What You Need to Know

A premium is what you pay each month to stay covered. A deductible is what you may owe before your plan begins covering your medical costs.

The two can offset each other:

• High premium, low deductible: You pay more monthly, but may spend less when you use care.
• Low premium, high deductible: You pay less per month, but may pay more when care is needed.

How to Choose a Plan for Your Family

The right plan may vary depending on your household’s health needs and budget. If your family visits the doctor often or relies on regular prescriptions, a higher-premium, lower-deductible plan may reduce out-of-pocket costs over the year.

If you generally need little medical care, a lower-premium plan may reduce your monthly costs. It can help to have savings available to cover a higher deductible if an unexpected illness or injury arises.

Preparing for the Enrollment Period

A few steps before the enrollment window opens can help you choose the right coverage:

• Take stock of your current coverage: Note what your plan covers, what you pay and where it may fall short.
• Compare plans side by side: Review premiums, deductibles and how each may affect your costs.
• Talk to an agent: Professional guidance can help you narrow down your options.

Find Coverage Options in Clute & Houston, TX

Our team can assess your needs and help you secure the right policy. Contact Nolasco Insurance & Tax Services today to discuss your options and get a free custom quote.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.