Health Deductible Recomendation
With the good news on my annual rate increase I was also given the chance to change our deductible to 10K from 7K. this is a family policy and the deductible is for all. Once we were to meet it the policy says the Ins. company pays 100% of covered costs.
I am 48 and DW is 47 we have two kids on the policy. If we raise the deductible to 10K form 7K our premium drops $116 per month.
What is the down side to doing this as I am concerned I might have missed some? We have had the policy for 5 years and I have always budgeted to pay the full deductible every year. I am wondering if this is realistic and if not how much should I plan for. By planning to pay all of it each year it does not make this a good choice but how do you make that determination? I am an engineer and not in the medical field so I really do not know all the possible ways you could always meet it or what the odds are. Please share any insight or recommendations on this you have.
Worked the plan and now living the Dream!