BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -What is Deductible in Health Insurance? Deductible in health insurance is the amount you have to pay before the health insurance company begins paying up the claim amount. This means the insurer is bound to pay the claim amount after it exceeds the deductible amount.

Detailed explanation-2: -Deductible is the amount that a policy holder has to pay before the insurance company starts paying up. In other words, the insurance company is liable to pay the claim amount only when it exceeds the deductible.

Detailed explanation-3: -A deductible is the amount you pay for coverage services before your health plan kicks in. After you meet your deductible, you pay a percentage of health care expenses known as coinsurance.

Detailed explanation-4: -The amount you pay for covered health care services before your insurance plan starts to pay. With a $2, 000 deductible, for example, you pay the first $2, 000 of covered services yourself. After you pay your deductible, you usually pay only a. copayment.

Detailed explanation-5: -Premium-The amount paid by an insured to an insurance company to obtain or maintain an insurance policy.