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It's basically the amount of (in this case, medical) expenses that an insured person has to pay before the insurance kicks in and starts to pay.
The trend is to modify the basic "all or nothing" deductible concept to include "co-pays", where the insurance pays for certain types of services (such as an annual health examination) even before the deductible is met, with the insured paying a token amount (say, $10) for the service and the insurance picking up the rest. This is beneficial for both parties: the insured doesn't have to come up with the full cost of the exam, and the exam may discover a condition early, while it can be treated easily and cheaply (therefore saving the insurance company money in the long run).
Wiki User
∙ 11y ago
Wiki User
∙ 7y agoThe "deductible" is the dollar amount of health care costs that must be borne by the insured individual before the insurance coverage takes effect. Once the insured patient has paid that dollar amount, further costs will be borne by the insurance carrier.
These out-of-pocket costs may be set on both a per-event and a yearly basis.
Anonymous
the amount of a doctor visit charge that isn't covered by insurance (apex)
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WHEN health insurance deductible?
WHEN WHEN when is health insurance deductible paid when? When?
Where can one find a high deductible health insurance plan?
There are a number of places where one could find a high deductible health insurance plan. Some businesses that offer high deductible health insurance plans include Aetna and United Healthcare.
What is the average deductible for health insurance in Florida?
The average deductible for health insurance in Florida depends on many factors. This includes how healthy the individual is and who their insurance is from. The rates can be under $100 to up to $500.
What is healthy insurance deductible?
Health insurance deductables are what you have to meet out of pocket before your health insurance companies begin paying.
How do deductibles work for health insurance?
A deductible is the amount of your actual, billed health care costs that you must pay before the insurance will kick in. Your premium does not count towards your deductible. The higher your deductible, the more you have to pay before your insurance will start to cover your bills.
Can you change the deductible and cap amounts on your health insurance?
yes
Is the cost of medical insurance deductible?
Yes. Health insurance premiums are tax deductible to an individual under IRC Section 213(d).
What are the advantages of a HSA included with health insurance plans?
The advantages of a HSA health insurance plans are many. On of the best advantages is that you have a higher deductible but the amount that is put away for special needs are tax deductible.
Who is the deductible paid by?
The deductible in a person's health insurance policy is paid by the owner of the policy. This means that the person who purchases the policy is responsible for the deductible fees.
Is a health premium the same as a deductible?
No. When referring to health insurance, the "premium" is the amount you pay to the health insurance company each month to maintain your coverage. The "deductible" is a specific dollar amount you may be required to pay out-of-pocket per year before the health insurance company will begin paying for medical services covered under your policy. The amount you pay toward your monthly premium (or for copayments) does not count toward your annual deductible. Not all health insurance plans have a deductible, and even among plans with deductibles, some services may be covered up-front (preventive care, for example) without being applied toward your deductible.
What is the average deductible through ahm health insurance?
"AHM health insurance doesn't normally release the cost of their customer's deductible since they offer different kinds. Some customers reported getting up to one hundred dollar deductible, others a little higher or less."
Health Insurance Plans: Cost Basics?
Health insurance plans have three main components: the premium, the deductible and the co-insurance. The premium is the money that you pay each month to be covered by the health plan. This is the only part of the plan that is paid whether you use your insurance or not. The deductible is the amount of money you have to pay out of pocket each year, before your insurance company will begin picking up part of the bill. The co-insurance is the portion of the bill that you are required to cover after the deductible has been reached. These companies together make up your actual cost of health insurance.
