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A deductible is the amount that the policy holder must pay before any benefits are covered under the plan. Some plans do cover some limited services prior to the deductible being paid, or they may not cover any. It is important to know what your deductible amount is, before you purchase a policy, to make sure that you can truly afford it in the event you need medical services.
What else can I help you with?
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.
What is the average deductible for medical travel insurance in Europe?
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.
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.
Is the cost of medical insurance deductible?
Yes. Health insurance premiums are tax deductible to an individual under IRC Section 213(d).
Are long term care insurance premiums tax deductible?
Yes, it is. Long term care insurance premiums are tax deductible. Premium payments are considered to be medical expenses and they are deductible as long as the medical expenses exceed 7.5% of the individual's income.
WHEN health insurance deductible?
WHEN WHEN when is health insurance deductible paid when? When?
What is a situation in which people have to pay a deductible?
When their insurance policy only covers part of a medical expense
What are the words 'insurance deductible' when translated from English to Spanish?
You say " seguro deducible"; but if it is a medical insurance then you say" Seguro medico deducible"
What does 'a medical deductible' mean?
That is insurance terminology. It is a portion of a covered claim that the insurance company will not pay and that you have to pay to the doctor or hospital yourself.
Is it worthwhile if you travel a lot to have a low deductible insurance?
Yes, if you travel a lot it would be helpful to have a low deductible insurance. You would be out of your network most of the time, and in the case of needed medical treatment, you do not want your deductible to be so high that you cannot afford the treatment.
Is pet insurance tax deductible?
Pet insurance is generally not tax deductible for individuals, as it is considered a personal expense rather than a medical expense. However, there may be exceptions for certain business owners who use pet insurance for their working animals.
What is a heath insurance deductible?
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".
