What is a deductible?
What is a deductible?
A deductible is the amount paid by an insured member prior to the insurance carrier or policy beginning to cover services. After the deductible, a member is typically responsible for a copayment or coinsurance up to plan maximum. A deductible may not apply to all services.
Example: If the deductible is $1,000, the member pays the first $1,000. Then the carrier would pay a percentage of the balance due and the member would pay the copayment or coinsurance listed per their policy rules.
Generally, plans with lower monthly premiums have higher deductibles and plans with higher monthly premiums have lower deductibles.
If you still have questions regarding deductibles, please click here to contact your benefit administrators.
