Health Insurance Basics
What is a health insurance deductible?
A health insurance deductible is the amount you pay out-of-pocket for covered medical services before your insurance starts to pay. For example, if your deductible is $2,000, you pay the first $2,000 of covered medical costs. After meeting your deductible, you typically pay coinsurance until you reach your out-of-pocket maximum.
Key Points
- Deductible: amount you pay before insurance starts to pay
- Example: $2,000 deductible — you pay first $2,000 of covered costs
- After deductible: you pay coinsurance until you reach OOP max
- After OOP max: insurance pays 100%
- An independent agent can help you compare plans based on deductible