So I have a choice of 20-80 or 30-70 what are the difference accept me paying out of pocket more.
Total Comments: 3
Posted: Mon Sep 13, 2010 12:28 am Post Subject:
You posted in the Auto Insurance form and this seems like health insurance. You paying more out of pocket and the twist is that the more you pay out of pocket the cheaper the plan.
Posted: Mon Sep 13, 2010 12:27 pm Post Subject:
Policies with 80/20 coinsurance are generally more expensive than those with 70/30. Premiums will be higher, and deductibles may also be higher. And these days, a policy with 80/20 coinsurance probably has a much higher "STOP LOSS" limit than in years past, meaning more out of pocket expense overall.
Posted: Wed Sep 15, 2010 12:01 pm Post Subject:
Personally, I've never felt bad about someone who goes for a cheaper policy if he's financially strong enough to bear it later on. It's just about analyzing your risks beforehand. None of us can foresee all risks.. so if I'm capable of meeting it on my own why do I lose out on the cost!
Posted: Mon Sep 13, 2010 12:28 am Post Subject:
You posted in the Auto Insurance form and this seems like health insurance. You paying more out of pocket and the twist is that the more you pay out of pocket the cheaper the plan.
Posted: Mon Sep 13, 2010 12:27 pm Post Subject:
Policies with 80/20 coinsurance are generally more expensive than those with 70/30. Premiums will be higher, and deductibles may also be higher. And these days, a policy with 80/20 coinsurance probably has a much higher "STOP LOSS" limit than in years past, meaning more out of pocket expense overall.
Posted: Wed Sep 15, 2010 12:01 pm Post Subject:
Personally, I've never felt bad about someone who goes for a cheaper policy if he's financially strong enough to bear it later on. It's just about analyzing your risks beforehand. None of us can foresee all risks.. so if I'm capable of meeting it on my own why do I lose out on the cost!
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