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Visitors Insurance - Choosing the Deductible

Visitors Insurance - Choosing the Deductible

Visitors insurance plans typically allow you to choose from multiple deductible choices. Therefore, customers usually wonder what the most suitable deductible is.

Deductible

A deductible is the amount you will have to pay first before the insurance company will pay any eligible medical expenses.

In visitors insurance plans, there is no concept of copay.(Exception: Some plans waive the deductible for urgent care visits.) Therefore, you must pay the deductible first before the insurance company will pay anything, even for minor illnesses.

Choices

If the plan has the deductible per incident, you will have to pay the deductible for every incident whether for sickness or injury. It is not for every office visit. Such plans typically have a low deductible ranging from $0 to $100 or sometimes $200. It is advisable to choose a deductible in the middle range, such as $50, in such cases.

If the deductible is per policy period or per year, the choices usually range from $0 to $2,500 or even $5,000. The price difference is usually 10 percent of the premium for every level except the $0 deductible, which may be higher than 10 percent. In such plans, you are advised not to choose a deductible higher than $1,000 or lower than $250.

Typically, the premium is very comparable for $50,000 coverage with $250 deductible, and $100,000 coverage with $500 deductible. In such cases, it is advisable to choose $100,000 coverage with $500 deductible. Even though you would end up paying a little more for minor illnesses, in the case of major issues, you will get double the coverage. It would be very worthwhile to consider higher policy maximum, as the cost of health care is very high in the United States.

Similarly, it is not advisable to choose a deductible higher than $1,000, as the cost difference between $2,500 deductible and $1,000 deductible is not significant. However, if you get sick or injured, you will end up paying $1,500 more out of pocket.

Recommendation

The deductible you choose really depends upon your comfort level.

  • The lower the deductible, the higher the premium.
  • The higher the deductible, the lower the premium.

If you would like to pay the higher premium and start getting covered early even for minor expenses, you should choose the lower deductible.

However, if you would like to pay the lower premium, and take the chance of paying out of your pocket for minor expenses, you should choose the higher deductible.

Our recommendation would be to choose the deductible in the middle of the range offered for a given insurance plan.

Did you know?

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You cannot find a lower price anywhere for the same product.

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Why purchase insurance from Insubuy®?

Same Price. Better Service.®

There are many advantages in purchasing from Insubuy® and no disadvantages.

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Visiting USA?

Healthcare costs are very high in the U.S.

Buy U.S. based visitors insurance and enjoy your trip.

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Traveling abroad?

Did you know that your insurance may not cover you abroad or that it may only provide limited coverage?

Purchase travel medical insurance that includes emergency medical evacuation.

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New immigrant to USA?

You would not be eligible to enroll in Medicare for the first 5 years.

Purchase new immigrant medical insurance to bridge the gap.

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Going on a vacation?

You could lose your non-refundable trip costs if you had to cancel your trip.

Buy a trip cancellation insurance package plan and be worry-free.

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Are you an exchange visitor to USA?

The U.S. Department of State requires all J visa holders to purchase compliant insurance.

Buy J visa medical insurance to meet your requirements.

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Traveling to Europe?

Schengen countries require most non-US citizens to purchase Schengen visa insurance.

Make an instant purchase online and get instant visa letter.

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Traveling frequently throughout the year?

You don't need to purchase travel insurance for every trip.

Purchase annual multi trip travel insurance for your travels.

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International student in the U.S.?

Most schools require international students to purchase health insurance.

Purchase international student health insurance that meets most school requirements.

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