Forbes May 16, 2022
In a perfect world, your health insurance plan would cover every medical expense. Since that’s not usually the case, you might be on the hook for a deductible. By understanding what a deductible is and how it works, you can choose the right coverage for you and avoid unwanted financial surprises down the road.
What Is a Health Insurance Deductible?
A health insurance deductible is the amount you must pay out of pocket before your insurance company pays for the rest of your accrued health expenses. “If your insurance plan includes a deductible, you’re 100% responsible for all of your medical costs until you reach your deductible,” says Janice Johnston, M.D., chief medical officer and co-founder of Redirect Health. In...
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