St Louis Medical Insurance - Here’s a Savings Secret
St Louis Medical Insurance Rates Continue To Rise
How do families save on St Louis medical insurance premiums and still have the quality health care coverage they need? And due to the current economy St Louis area families are cutting back drastically on many things. Some families are facing potential financial disaster because they cannot find affordable medical insurance.
“The question I get asked the most is: What is my yearly deductible?,” said Mike Barton, President of St Louis Benefits Group. “Many people are so afraid of deductibles $1000-$2000 year. You would be surprised to learn how much you can save with a higher deductible and what the actual annual cost really is. Yes, you can find a low cost health plan.”
Below is a simple formula to help evaluate:
Deductible + Out of pocket maximum + Yearly premiums = The Total amount, and worst case scenario you would potentially be responsible for in the event of a major health situation.
Let’s take an example of a family of 4 (Dad, Mom and 2 children).
Health Policy Option 1: A major medical policy with unlimited doctor office visits with a $35 co-pay. The annual deductible is $1000, maximum out of pocket $2000, monthly premium $664 X 12= $7968. Using our formula: $1000 + $2000 + $7968 = $10,968. This is the total yearly expense this family would be responsible for a major condition with this plan.
Health Policy Option 2: A major medical policy with a limit of 3 doctor office visits (per family member) per year, with a $35 co-pay. The annual deductible is $5000, maximum out of pocket is $2000, monthly premium $256 X 12= $3072. Our new formula: $5000 + $2000 + $3072 = $$10,072. This is the total yearly expense this family would be responsible for a major condition with this plan.
The difference in monthly premiums between Health Policy Option 1 $664 and Health Policy Option 2 $256 is $408 per month! Even more important is the actual out of pocket cost in the event that a health or illness condition arises is the same. Now if you and your family have no major condition and no hospitalization situation during the year, you get to keep the $408 per month or $4,896 per year savings. If you are fortunate to have 5 years of good health, the savings come out to $24,480.
Website Quote – available 24/7, get your quote now – www.stlouis-healthinsurance.com
If you would like a Free no obligation quote from a local broker who knows the best health plans available in St Louis Medical Insurance, call 1.888.885.3975.
- Contact Information
- Mike Barton
- St Louis Benefits Group
- Contact via E-mail
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