 I own a small business, what are my options in California for affordable health insurance? |
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The market value of the house is worth 300K.
The loan amount is of 275K.
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I turn eighteen in Sept.
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| I've been on my 18mth contract with o2 for 5 mths but my phone is pretty much broken and I'm in dire need of a new one. I don't have insurance. will o2 give me a replacement (of any ... |
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Jasmin B | What does deductible really mean? |
I'm looking for health insurance right now and I don't really understand deductible, I looked it up already and read a little bit about it but I couldn't really find the right answer I was looking for! What I was wondering about was, let's say I went to the doctor for having a flue and my total doctor visit cost 350 $ and my deductible from my health insurance is 1000 $, does that mean that I have to pay the whole 350 $ by myself and the health insiurance only kicks in when I have bills over 1000$? does that mean that everything what is under 1000$ I would have to pay by myself? |
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Chris C
 |
You got it right...
Basically, the deductible is the amount that you have to pay before your insurance kicks in and covers the rest. |
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Insurance Pickle.com
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That COULD be what it means, but you may also have a copay instead of a deductible for an office visit. Why that 'sucks' I'm not sure because it's usually a more intelligent plan than a lower deductible or no deductible plan.
I just talked to a guy today who was looking at a $300 deductible plan. I showed him a $1200 deductible plan (same exact plan and company) that saved him $1900 per year. Why would anyone pay $1900 to lower their deductible by $900 confuses me.
Just make sure you use a broker to find your plan. The worst thing you could do is try to do this by yourself. I have people call my office all the time telling me they've been at this for 'weeks' and 'months' and I help them in 10 minutes.
Brokers are free, but it can be very expensive not to use one. |
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Don
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Deductible
A deductible is what you have to pay before your health insurance kicks in. This is a pre-set amount per year. Some times the deductible is for the whole family, sometimes times two or 3 family members. Check the policy.
However, traditional plans have co-pays that allow you to go to a doctor for routine visits and get prescriptions for a preset amount, like $20 or $40. Co-pays are not subject to the deductible, nor do they apply to the deductible.
Don
http://mtnhealthinsurance.com |
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GreenIYD
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what you said, is exactly what it means. It sucks, doesn't it?
What sucks, sir, is that any working class citizen should have to spend $1000 of hard earned money to get well when they have purchased insurance. Additonally, The health care system shouldn't be complicated enough for people to have to hire brokers to handle the payment of their health related affairs. That is what sucks. The fact that this poor girl had to ask this question on Yahoo! Answers sucks. The health care industry needs to be reined in and that sucks. |
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SmartA$$
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Yes, that is what it means.
If there is a $1000 deductible, it means you pay the first $1000 of health care expenses out of your own pocket. After you've paid $1000 out of pocket, the insurance starts paying their percentage of the costs.
Some insurance programs have exceptions to the deductible. For example, my plan says that preventative visits aren't subject to the deductible. That means that they pay a certain percentage of regular exams and check ups even before I have met the deductible for out of pocket expenses. |
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tha_munk2
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It means that you have to pay the first $1000 and the insurance covers everything after that. |
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Not spoiled,well taken care of
 |
Ok the deductible is what you have to pay out of pocket before your insurance pays anything. However, if you go to a physician that accepts your insurance and the bill is 350.00 for example and because you have insurance and the Dr is contracted, the insurance may only allow 175.00 and that is what you would have to pay out of pocket The rest would be written off per the providers contract. Your deductible is still 1000.00 but you do get a discount on what you would have to pay at each individual visit. Which is better to pay 175.00 at a time than 300.00. An HMO insurance though does not have a deductible and you only pay a set copay when you see the Dr. |
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vbgore
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Yes. The deductible is the amount that YOU must pay before the policy kicks in. However, often times there are types of care that are NOT subject to the deductible, and instead require a co-pay. For example:
You may have a policy with a $1000 deductible, but a $20 co-pay for a doc visit or prescription. That would mean that when you go to the doc or get an Rx, your deductible does apply and instead you make just the copay amount.
You should seriously consider a Health Savings Account. With an HSA you will have premiums that are lower than a traditional plan, and you are allowed to put aside the money that would normally be your deductible into an interest bearing account. This account is basically a medical IRA and will grow TAX DEFERRED. It's a little much to get into here in this format, but contact a local agent and ask about a health plan with an HSA. |
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