Whats a deductible?
2006-09-28 13:57:32 · 4 answers · asked by Anonymous in Health ➔ Other - Health
The deductible is the amount of the loss the insured pays in a claim.
If you have a claim for $500 for health bills covered by your health insurance policy and your deductible is $250, you pay $250 and the health insurance company pays for the other $250. Actually, the insurer may pay $500, and then they will come to you to pay them the $250 deductible.
I hope that helps. The higher your deductible, the lower your premium.
2006-09-29 07:33:18 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Deductable = The amount of a claim that the insured must pay before the insurance company will cover the rest.
2006-09-29 18:20:11 · answer #2 · answered by 2insure4less 2 · 0⤊ 0⤋
The deductable is what you pay out of pocket before the insurance company picks up their percentage. If I go to the dr. and it's $380 and I have a $100 deductable, I pay $100 and then a percentage of the rest. The next doctor visit, my deductable is already paid, so I just pay a small percent of the visit.
2006-09-28 21:00:09 · answer #3 · answered by bibliophile31 6 · 1⤊ 0⤋
If you have a $500 deductible. Than you must pay the firts $500 towards the medical bill before the insurance will kick in. Its what your resposible for.
2006-09-28 20:59:38 · answer #4 · answered by Anonymous · 0⤊ 0⤋