What is meant by “deductible” and “co-insurance”?
Deductible is the set amount of allowable charges that members must pay each plan year before benefits are payable. The current deductible is $350.00 per person, or, $1050.00 per family. Co-insurance is the amount the member must pay towards the cost of covered medical expenses after the deductible is met. The current co-insurance amount is 20% up to $1500 per person, or $4500 per family. The deductible and co-insurance are both based on a fiscal year (July 1 through June 30).
