The IRS Deductions Blog

Question: what happens if i change my health insurance deductible now?

so, i just got a letter from my insurance company telling me my bill will go from $307 to $332 and i have the option to change from a $500 to a $1000 deductible so my bill will be $285/mnth…
my question is… i already met my $500 Deductible so will i have to start all over and pay the $1000 or just another $500??

Answer: you will only have to pay the extra 500. come january 1, it will start all over again.

you need to keep in mind that the out of pocket maximum (the most you pay before you are covered 100%) will also increase. you need to find out what that figure will be if you switch plans

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