The deductible is the amount the policy holder must pay out of pocket for health care services before your health insurance provider begins to pay.
For example, if your plan’s deductible is $1,500, you’ll pay all expenses until the bills total $1,500. After that, the cost is shared with insurance.
After you pay your deductible, you usually pay only a copayment or coinsurance for covered services. Your insurance company pays the rest.
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Generally, plans with lower monthly premiums have higher deductibles. Plans with higher monthly premiums usually have lower deductibles.