Health Plan Same Different Franchise

Health Plan Same Different Franchise -

Here's a little fact about health insurance that consumers do not know: Many companies Medicare offer plans that have the same coverage and benefit levels, but with different amounts of deductible and premium.

Why is this important?

Consumers may love their plan, the network and the benefits of current doctor, but then face changes in life that can not adapt their current franchise. This is extremely common - what happens every time a couple has a child, when a child goes to college and if a person changing medical needs.

Instead of going to a new health plan with different doctors, pharmacies and benefit levels, consumers should consider the same plan with just a different franchise.

What happens when the franchise is changed?

If a consumer decides to lower the deductible, Medicare monthly premiums will increase. But if a consumer wants a plan with a higher deductible, monthly premiums will decrease.

When to consider a different deductible for a health plan?

Consumers experience changes in their lives, which means it might be time to change the amount of the deductible. This can include changes in employment, personal health changes, adding children or removing children from a plane or when a consumer may be under-utilization of their current franchise.

How do consumers know when their current plan is offered with different deductible amounts?

Individuals can compare plans with different deductible amounts or simply contact their current health insurer to see if they can change the deductible on their plan.

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