What Is Insurance Deductible. Copays are typically charged after a deductible has already been met. What is an insurance deductible?
A homeowners insurance deductible is the amount of money that you’re responsible for paying before your insurance company will pay you for an insured loss. For example, if you file a claim for $1,500 and you have a $500 deductible, the insurance company will only cover $1,000. Key things to know about car insurance.
Your deductible is a fixed amount you have to pay each year toward the cost of your health care bills before your health insurance coverage kicks in fully and begins to pay (if you're enrolled in medicare, the part a deductible is based on benefit periods rather than the calendar year).
In an insurance policy, the deductible is the amount paid out of pocket by the policy holder before an insurance provider will pay any expenses. Some plans (typically hmos) may not have a deductible at all. A health insurance deductible is a specified amount or capped limit you must pay first before your insurance will begin paying your medical costs. What is a health insurance deductible?