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How Do Health Insurance Deductibles Work

Posted in Uncategorized | August 27th, 2011

how do health insurance deductibles work
How exactly does an insurance deductible work?

I am needing health insurance for my 1 week old son and myself. I am completely new to finding insurance. I was looking around and I notice some insurance companies have like $2000 deductible and some are $5000, would I have to pay $5000 to the insurance before I can start using it or when would I have to pay $5000, sorry if I sound dumb I have never shopped around for insurance before. Is it similar to car insurance like you would have to pay your $500 deductible before they would fix it? So if thats true then I would have to pay $5000 before they would “fix” me or my son?

Yep you’ve got it–a deductible is YOUR out of pocket that you pay before your insurance starts paying anything. Sometimes an insurance plan will have a deductible that only applies to some stuff though, so you might want to clarify that. Like, a plan could have a $2000 deductible that only applies to hospital expenses (surgery, ER visits, stuff done at hospitals or facilities), but for just your regular office visits with doctors, you have a copay. The deductible may apply to everything, I just wanted to make sure you know to ask while you’re shopping around so you really know what you’re getting )