A health insurance deductible is the amount you may need to pay for covered medical services before your insurance plan begins paying according to its terms. For example, if your deductible is $1,000, you may need to pay that amount toward covered services before the plan starts sharing certain costs.
How Does a Deductible Work?
After you meet your deductible, you may still pay copayments or coinsurance, depending on your plan. Some services may be covered before you meet the deductible.
Deductible vs. Premium
A premium is the amount you pay to keep your insurance active. A deductible is an amount you may pay when you receive covered medical care. They are different costs.
What Should You Check?
Before choosing a plan, review the deductible, other out-of-pocket costs, and services covered. Understanding these details can help you plan for medical expenses.
Frequently Asked Questions
What is a health insurance deductible?
It is the amount you may need to pay for covered medical services before your plan begins paying according to its terms.
Do I pay the deductible every time I visit a doctor?
Not necessarily. It depends on your plan and the type of service you receive.
Is a deductible the same as a premium?
No. A premium is the amount you pay to keep your insurance active, while a deductible is a cost you may pay for covered care.
Does every health insurance plan have a deductible?
No. Some plans may have no deductible or may cover certain services before you meet it.
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