Most people pick a health plan by looking at one number: the monthly premium. It's the number that hits your bank account every month, so it feels like the real cost. It usually isn't.
The premium is the ticket. The deductible is the ride.
Your premium is what you pay to have coverage at all—whether you go to the doctor or not. Your deductible is what you pay out of pocket before the plan starts sharing costs with you.
A plan with a low premium and a $7,000 deductible can quietly cost you far more than a plan that costs $80 more a month but has a $1,500 deductible—if you actually use it.
The right question isn't "what's the cheapest premium?" It's "what will this plan cost me in a normal year, and in a bad year?"
A quick way to compare
For any two plans, add up:
- Premium × 12 — your guaranteed yearly cost
- Deductible — your realistic out-of-pocket in a year where something happens
- Out-of-pocket maximum — your worst-case ceiling
The plan that wins on line 1 often loses on lines 2 and 3. That's the trade you're actually making.
Watch: deductibles in under a minute
If you want a second set of eyes on the math for your own situation, that's exactly what I do—no charge to talk it through.
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