What does "deductible" in health insurance services mean?

Please explain clearly.Thanks for helping!

Some health insurance plans or prescription drug plans have an amount set that the patient is responsible to pay before the insurance will start picing up costs.

So if you have a $1000 deductible, you are responsible for paying out $1000 from your pocket before the insurance will start paying for your health services.

It can be confusing at first. Think of your deductible as your stake in your healthcare. The company wants you to pay the first $1,000 of your expenses each year. For that, your monthly cost will be lower than it would if you didn't have a stake in your healthcare.

So whenever you go to the hospital, in for surgery, to have major medical tests done, like MRI's and CATSCAN's you will be responsible for the first $1,000 of the bills. Then your benefits will kick in and your insurance company will start paying.

Most insurance companies will pay 80% of the rest of the bill. Some pay 100%, some 90%, some 70%, some less. You are responsible for the remaining %. However, you do have a stop loss typically, or a maximum amount you would pay if your portion hit a certain dollar amount. A common stop loss (or out of pocket maximum) in Utah is $3,000. So once your deducitible and your percentage (may bne 20%) reach $3,000 for the year, the plan typically covers you at 100% until the lifetime maximum (in Utah most are $2,000,000).

Office visits and prescriptions may be your responsibility, but most of the time your health plan will pay for office visits and prescriptions. All they ask is that you pay your co-pay, or a set dollar amount for each visit or prescription. It can work both ways. The way to figure it out is to ask your insurance company if the deductible is waived for office visits and prescriptions. If they are, you will most likely just have to pay a copay for those things.

A great way to get help with this is to connect with a local health insurance agent in your area. You can do that by filling out the form at http://www.myinsurancequotes.net. It doesn't cost you a thing and there is no obligation. What it does do is connect you with a local person who does this for a living and can really look out for your best interest. Good luck!

Jared Balis
http://www.utahinsurance.org

It's a set amount that the individual must pay BEFORE the insurance kicks in.
In some cases, Doctor visits may be included in the deductible amount.
It's comparable to Auto insurance.
An accident may require the owner to pay $500 for any damage. Any amount above that is covered by the insurer.

its like car insurance... the deductable is the part you pay, they pay anything over that... so if you have a 500 deductable, and your hospitol bill is 25,000, you pay 500 they pay the rest... if your deductable is 500 and your hospitol bill is 250, you pay 250, they pay nothing

How much out of your pocket, before the insurance kicks in.

Premium is what you pay to have insurance. Deductible is the amount you pay before the insurance company pay for your bills.

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