What's the first thing people do when they want to save money on their car insurance? They raise their deductible. The higher your deductible, the lower your premiums will be, because the insurance company gives you a sizable discount for paying for your low-level care yourself. The deductible is the amount you have to pay out of pocket for your
care before the insurance kicks in. I learned about high deductibles when I started my first on-air television news job at age 23. I was a freelancer and didn't have health insurance. I was also making just $21,000 a year and didn't think I could afford healthcare coverage.