What's a Deductible?
This video explains the concept of a health insurance deductible:
A deductible is the amount of money paid by the insurance policyholder before insurance coverage kicks in.
Example: A $500 deductible means the first $500 of, say, a $1000 hospital bill is the individual's responsibility. The remaining $500 is paid for either entirely by the insurance company or split between the individual and the insurance company.
Additional deductibles may apply for specific services or out-of-network care.
Certain costs, like cosmetic treatments and copayments, do not apply towards the deductible.
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