What is a Deductible?

The deductible is the amount you have to pay when you make a claim against your health insurance. For example, if you need to go into the hospital and you have a $2000 deductible; you would be responsible for the first $2000. Typically, each person on the policy, up to three, will have the $2,000 deductible – so, a total of $6,000 for the family. Then, if you have a coinsurance, you would be responsible for additional money.

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