MANAGEMENT

Detailed explanation-1: -In most cases, the higher a plan’s deductible, the lower the premium. When you’re willing to pay more up front when you need care, you save on what you pay each month. The lower a plan’s deductible, the higher the premium.

Detailed explanation-2: -The higher a deductible, the lower the annual, biannual or monthly insurance premiums may be because the consumer is assuming a portion of the total cost of a claim.

Detailed explanation-3: -Plans with lower deductibles and higher premiums are recommended for people who expect a considerable amount of medical care. Those with chronic illnesses, the need to see several specialists, or possible hospitalizations in the coming year will save more in the long run with a lower deductible.