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Deductibles Explained
Many people are confused about the differences between an insurance premium, deductible,coinsurance and Out of Pocket limit. What are they and how do they differ from each other?
The beginning of the year marks the beginning of deductibles and co-pays. Many people are confused about their expenses.
In short, all four represent the portion of the medical bill that you are responsible for in case you get sick or injured - otherwise known as out-of-pocket expenses. However, there are some very unique differences between each one, and we are here to help guide you to understand what each word means…
How to Survive a High-Deductible Health Plan
Consumer Reports shows how you to save money and stay safe if you're on the hook for thousands in medical bills as part of a high-deductible health plan.
High-deductible health plans promote increased wellness program participation
The growing use of HDHPs and CDHPs is further pushing employee engagement in making better healthcare decisions, with an additional increase in wellness program awareness and participation.
High Deductibles: Why It’s Important to Read the Fine Print
The Affordable Care Act (ACA) requires all health plans to fully cover preventive services, such as cholesterol screenings and mammograms, and prohibits insurance companies from charging copays for them. But findings from the most recent Commonwealth Fund Health Care Affordability Tracking Survey reveal that two of five adults with private coverage are unaware that their health plan fully covered preventive care services—and fully half of privately…
Many Say High Deductibles Make Their Health Law Insurance All but Useless
For many consumers, the sticker shock is coming not on the front end, when they purchase Affordable Care Act plans, but when they get sick and are hit by sky-high deductibles.
What You NEED to Know: Individual vs. Family Deductibles
Health insurance is something that everyone should have, but it’s also something that many people don’t completely understand. One of the concepts that is essential to grasp is how your deductible works. There are two basic types of deductibles for family coverage, and knowing which one you have and how it works will help you ... More
Collision deductible: What you need to know
Learn the details regarding how to choose a collision deductible when buying collision coverage.
Hurricane deductibles: How much do homeowners know?
Despite living in areas susceptible to hurricanes one third of homeowners in several coastal states do not know what hurricane deductibles are and how they work.
How Do I Choose the Right Home Insurance Deductible?
Choosing the right home insurance deductible can be a confusing process. Learn how you can choose the right deductible to maximize your home insurance.
An Example of How Supplemental Insurance Helps with Deductibles
Supplemental health insurance products can give you extra financial protection for expenses that aren’t covered by your major medical plan.
How sky-high deductibles broke the U.S. health insurance system
Health plans that put patients on the hook for many thousands of dollars are widespread and growing, but some employers are beginning to have second thoughts. A handful of companies have recently announced plans to reduce deductibles or cover more care before workers are exposed to the cost.
What Is a Deductible, and How Does It Affect My Costs?
Understanding insurance payment responsibilities is challenging but important. Start by learning about deductibles and how they could affect your costs.
Why Higher Deductibles are Always the Way to Go
When the whole concept of insurance was first conceived, the basic idea was to “insure those risks in your life that render you the greatest danger”. The idea was to insure oneself against CATASTROPHIC losses that can’t be observed in any other way.
How to Maximize Your High-Deductible Health Plan
If you have a high deductible health plan (HDHP) and end up needing emergency or planned surgery that puts you close to or over your deductible, consider what other procedures or care you can add on in that plan year, as Carolyn McClanahan explains for Forbes. “By approaching your medical care in a thoughtful manner, you may be able to ‘front load’ a bunch of care into one year and only need to meet one large deductible.”
Why it’s time to rebrand the high-deductible health plan
Employers are addressing low HDHP adoption by investing in education and support tools, but it’s time to go even further.
How High a Deductible Should Your Company Take?
The reality is that deductibles have tended to be more market-driven than is desirable for most corporations.
Are We Sinking Ourselves in Medical Debt?
Several of my friends, independently, have told me their stories about their experiences with Obamacare. All the stories are similar in many ways and entail recounting of large deductibles and smal…
Explained: What is top-up health insurance and how should you use it?
A deductible is that portion of the claim amount that is not covered by the insurer and has to be paid by the policyholder before the benefits of the top-up policy can kick in.
