Deductible

The deductible on a health insurance plan is the amount of money that an insured must pay before the insurance company pays anything. Usually the deductible accumulates throughout the calendar year. This means that any eligible medical bills that you run up between January 1 and December 31 count toward the deductible. Once you have met your deductible, the insurance company starts paying benefits. You should be aware that there is usually a family deductible and sometimes a deductible carryover. Our consultants generally recommend that you save yourself premium by obtaining as high a deductible ($1,000 to $2,000) as you can afford to pay.