What is a deductible?What is a deductible?
A deductible is the fixed dollar amount you must pay of your own funds each calendar year before your health insurance begins to make payments for covered medical services. All deductibles reset once a year on January 1. Typically, the higher the deductible, the lower the premiums and vice versa. Deductible amounts usually differ out of network (proving to be higher). When selecting a plan, you should know what plan benefits are subject to the deductible, and what portion of the cost (set as percentages) is covered by the plan once it has been met. This is typically referred to as coinsurance. If the cost is covered 100% after the deductible, then coinsurance is not applicable. See “What is co-insurance?”Permalink • HideDon’t sue us! Fractured Atlas is not an insurance company. We’re also not lawyers, brokers, agents, doctors, or anyone else qualified to give professional advice. We try our best to be helpful, but take anything written here with a handful of salt.
