Difference between revisions of "Deductible"
From Healthcarepedia
(Created page with "=What is a deductible?= A deductible is the amount a health plan member pays for health care services before health insurance begins to pay. A deductible is usually a fixed...") |
(→What is a deductible?) |
||
| Line 1: | Line 1: | ||
=What is a deductible?= | =What is a deductible?= | ||
| − | A deductible is the amount a health plan member pays for health care services before health insurance begins to pay. | + | A deductible is the amount a [[health plan member]] pays for health care services before health insurance begins to pay. |
A deductible is usually a fixed dollar amount and is an [[out-of-pocket]] cost to the health plan member. | A deductible is usually a fixed dollar amount and is an [[out-of-pocket]] cost to the health plan member. | ||
| − | Depending on the insurance plan, the deductible can range from $0 to thousands of dollars. | + | Depending on the [[health insurance plan]], the deductible can range from $0 to thousands of dollars. |
| − | Generally, the higher the deductible the lower the health plan [[premium]], and vice versa. | + | Generally, the higher the deductible the lower the health insurance plan [[premium]], and vice versa. |
| − | Many health plans pay for certain services, | + | Many [[health plans]] pay for certain services, such as a checkup or disease management programs, before before the health plan member needs to pay the deductible. |
=Example= | =Example= | ||
With a $1,000 deductible, the health plan member must pay the first $2,000 of covered services themselves. | With a $1,000 deductible, the health plan member must pay the first $2,000 of covered services themselves. | ||
Revision as of 11:54, 17 February 2017
What is a deductible?
A deductible is the amount a health plan member pays for health care services before health insurance begins to pay.
A deductible is usually a fixed dollar amount and is an out-of-pocket cost to the health plan member.
Depending on the health insurance plan, the deductible can range from $0 to thousands of dollars.
Generally, the higher the deductible the lower the health insurance plan premium, and vice versa.
Many health plans pay for certain services, such as a checkup or disease management programs, before before the health plan member needs to pay the deductible.
Example
With a $1,000 deductible, the health plan member must pay the first $2,000 of covered services themselves.
