Difference between revisions of "Deductible"
From Healthcarepedia
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Generally, the higher the deductible the lower the health insurance 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, such as a checkup or disease management programs, before before the health plan member needs to pay the deductible. | + | Many [[health plan|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. | ||
Latest 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.
