Difference between revisions of "Deductible"
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Revision as of 07:36, 15 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 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.
Many health plans pay for certain services, like 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.
