Health insurance basics
What is a Deductible?
A deductible is the amount that you pay out of your pocket before your insurance plan begins to pay.
After you pay the $5,000 deductible, your insurance plan begins paying toward the $15,000 that remains. The exact amount depends on your plan.
The basic math
You have a $20,000 medical bill and a $5,000 deductible. You pay the first $5,000. That leaves $15,000. Your insurance plan then begins paying toward that remaining amount.
That is the basic idea: $20,000 bill - $5,000 deductible = $15,000 left after you meet the deductible. Exactly how the remaining bill is paid depends on your plan.
You may not have to meet it for everything
On many plans, you can use certain services before meeting the deductible. These may include doctor visits, urgent care, prescriptions, checkups, and other wellness or preventive care.
Every Plan is different. This is why HealthPlanNinja customizes a plan specifically for your needs.
The Ninja takeaway
A deductible is simply the amount you pay first.
Want help finding a plan that makes sense for you? HealthPlanNinja can explain it without the insurance talk. Our licensed advocates are always free.