Deductibles are not prorated if you change your plan during the year. This means you will have to meet the full deductible for the entire plan year before you can receive post-deductible benefits. This is also true if you switch insurers during the year.
A higher deductible will reduce your monthly insurance premiums, but its important to consider your risk profile and budget when selecting a deductible. For example, someone who has a history of accidents or injuries may want to select a low deductible, while someone who prefers a lower risk lifestyle may choose a higher deductible.
Its also a good idea to look at the long-term savings of each option. For example, if you shift from a $200 to $1,000 deductible, it could take three years before you recoup the cost of your higher deductible by saving on monthly premiums.
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