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What policies should be implemented now that you know that Mrs Gonzales’s secondary insurance will not cover her copayments until her high yearly deductible is met?
Orii Lewis
home equity loans, auto loans, and student loans
Roslyn Walter
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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.
WHEN health insurance deductible?
WHEN WHEN when is health insurance deductible paid when? When?
Is there a deductible on comprehensive auto insurance?
Yes. Most insurance companies do have a deductible for this kind of insurance. Most deductibles are 500. This can be a normal charge for a deductible.
What exactly is supplemental insurance?
Supplemental insurance is insurance that you can purchase in addition to your regular insurance. It can help pay for expenses such as copayments and deductibles not covered by regular insurance.
What is deductible for?
When you have a deductible in your plan, before your insurance starts paying for the coverage, you have to meet the deductible after which the insurance starts paying its portion.
What is a deductible in auto insurance?
A deductible in any kind of insurance is, basically, the minimum amount before the insurance "kicks in." On any repairs covered by your insurance, you will have to pay the deductible amount before the insurance will pay anything.
What kind of insurance is tax deductible?
Insurance for one's personal property such as auto or homeowner's insurance is tax deductible. Other tax deductible insurances are medical and dental insurances.
What happens if you cannot afford the homeowners insurance deductible?
Normally when you buy a house, you will be required to get home owner's insurance and pay a deductible. If you can pay the deductible, you may lose your homeowners insurance.
What are my options for Low Deductible Insurance?
A low deductible insurance policy simply means that, a low deductible, possibly $200 as compared to $2,000 which would be a high deductible. Often you are also given the option of choosing 80, 90 or 100% co-insurance. Co-insurance is the amount that the insurance company pays (after deductible) up to whatever is the maximum out of pocket amount.
What should your Deductible for car insurance be?
Well the higher your deductible, the lower your insurance premium will be. However, your deductible should be something you can afford in case of a loss.
How does your deductible work in home insurance?
The amount of a policy deductible on a homeowners insurance policy is chosen by the policyholder. Your policy deductible is the amount you are responsible for paying before the insurance company will payout for a claim. If you experience a loss to your dwelling or your personal property, your homeowners insurance policy deductible applies. The deductible does not apply to other coverages on the policy. If you experience a loss under your deductible, you will not be eligible for a payout. If your loss exceeds your deductible, your deductible will be deducted from your claims payout check.
Can insurance co-pay be tax deductible?
If you are referring to a MEDICAL/HOSPITALIZATION insurance co-pay, yes, that is deductible as a medical expense. And on property/casualty insurance, it may be deductible as a casualty loss.
