What is an insurance deductible?

What is an insurance deductible?

An insurance deductible is the amount you pay out of pocket before your insurance coverage kicks in.

How does it work with health insurance?

With health insurance, you pay your deductible first for medical services, and then your insurer covers the rest.

Are higher deductibles better?

Higher deductibles usually mean lower premiums, but they can lead to higher out-of-pocket costs if you need care.

Can I change my deductible amount?

Yes, you can often choose your deductible amount when you purchase a policy or during renewal.

What happens if I don't meet my deductible?

If you don't meet your deductible, you'll be responsible for all your medical costs until you do.