What Does A Deductible On Health Insurance Mean?

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   Mendy Douglas

   Insurance Educator, North American Senior Benefits, Houston, tx

   A deductible is the amount you have to pay before insurance pays for your medical costs. Say you have a $1000 deductible and you go to the doctor and they bill you $500. You are responsible for paying all of that $500. Say the next time you go, they bill you $1000. Well you would pay $500 and then the other $500 will be covered by your insurance, unless you also have to pay coinsurance and copay, then you will need to pay more out of pocket costs.

   Answered on October 31, 2013

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