ECONOMICS
INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The reoccuring price someone must pay to keep the health insurance
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The cost paid out of pocket before the insurance company will begin paying anything
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Using your insurance to help pay for something
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none of the above
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Detailed explanation-1: -What Are Deductibles? Insurance deductible meaning: It is the amount a policyholder must pay before the insurance company begins to compensate them. In other words, the insurance company is only responsible for paying the claim if it exceeds the deductible in health insurance.
Detailed explanation-2: -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.
Detailed explanation-3: -A deductible is the amount of money you need to pay before your insurance begins to pay according to the terms of your policy. An out-of-pocket maximum refers to the cap, or limit, on the amount of money you have to pay for covered services per plan year before your insurance covers 100% of the cost of services.
Detailed explanation-4: -A deductible is the amount you pay for health care services before your health insurance begins to pay. How it works: If your plan’s deductible is $1, 500, you’ll pay 100 percent of eligible health care expenses until the bills total $1, 500. After that, you share the cost with your plan by paying coinsurance.
Detailed explanation-5: -A deductible is the amount of money a member pays out-of-pocket before paying a copay or coinsurance. The amount paid goes toward the out-of-pocket maximum. Think of your health insurance deductible like your auto insurance.