MANAGEMENT

Detailed explanation-1: -Simply put, a deductible in health insurance is the amount you must pay out of pocket for medical care before the insurance company begins to cover the costs.

Detailed explanation-2: -The word ‘Deductible’ is closely associated with insurance and it is the amount of money that you must pay before the insurer begins to cover the rest of the claim amount. How it works: If your insurance plan’s deductible is Rs. 50, 000, you will pay 100% of the eligible expenses until the bills total Rs. 50, 000.

Detailed explanation-3: -Your expenses for medical care that aren’t reimbursed by insurance. Out-of-pocket costs include deductibles, coinsurance, and copayments for covered services plus all costs for services that aren’t covered.

Detailed explanation-4: -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-5: -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.