Medical Insurance

What is a heath insurance deductible?

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2011-01-28 21:11:56
2011-01-28 21:11:56

Its what you are required to pay out-of-pocket before your insurance will cover the costs of your medical bills. Sometimes known as "co-pay".

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Related Questions


WHEN WHEN when is health insurance deductible paid when? When?


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.


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.


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.


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.


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.


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.


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.


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.


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.


A deductible is your "skin in the game" so to speak. A way of reducing insurance premiums is to increase you're deductible, thereby reducing the risk of the insurance company. If you had an insured loss of $1000 and you had a deductible of $250, you would be paid $750 by your insurance carrier.


Yes. The insurance company will pay their portion of the claim which does not include the deductible because that is your portion .


The deductible for bodily injury liability car insurance depends upon what you select. The deductible portion is not covered by the insurance policy and thus high deductible policies have a lower premium. Car insurance requirements also vary from state to state.


The average deductible varies depending on your company. However, on average, the deductible is about $1000.


The voluntary deductible is the amount of your deductible agreed too when you purchased your insurance coverage. It's considered voluntary because we can choose our deductibles. Of course, the lower the deductible, the higher the rate.


If you were legally at fault, you are responsible to pay all damages to other vehicle. Even if you pay the other persons deductible, that insurance co. will come after you for total amount. The person that you gave the money to for their deductible will then have to give some of that back to insurance co., if they find out that deductible was given to him (her) by you.


AARP Medicare Supplement Insurance picks up the Medicare deductible.


Yes. In many cases your insurance company may waive your deductible if the third party's insurance company accepts liability.


An insurance deductible is a set amount of money that the insured is required to pay before the insurance company starts to pay. For instance, if your deductible for the year is $100.00, and your first insurance bill is $150.00 , they will only pay $50 and you will have to pay $100 (deductible). Every insurance bill after that will be paid for by the insurance company until the end of the year and then the cycle starts again. The deductible is your responsibility.


Not deductible on your federal income tax return.


The average deductible for medical travel insurance in Europe depends on specific aspects of the traveler and the trip. Age of the traveler, length of the trip, and medical limits all factor into the deductible of the insurance.


The deductible applies only to your insurance policy so you can not.


NO. Life insurance premiums would NOT be deductible on your 1040 federal income tax return.


Yes. Health insurance premiums are tax deductible to an individual under IRC Section 213(d).


I assume you mean how does the deductible work. When you file a claim on any insurance, the insurance company will take out the deductible before it issues the payment to you. In many states the banks are protected and the check has to be made out to you and the mortgagee company.



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