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the amount for which the insured is liable on each loss, injury, etc., before an insurance company will make payment: The deductible on our medical coverage has been raised from $50 to $100 per illness. Discover More Other Words From ...
That's why even if you have insurance, you'll still want to havesome money set asidefor unexpected financial emergencies. This is especially true if your insurance plan has a high deductible, meaning you'll have to pay more money out-of-pocket before your policy benefits take effect. Ahigh...
Say a fire causes$50,000in damage to your house and you have a$1,000policy deductible. Your insurance company should reimburse you$49,000($1,000 subtracted from $50,000) for repairs. Deductibles are paid on a per-claim basis, meaning if your home is damaged in two different events tha...
In most health insurance plans, the health insurance carrier (also called provider or company) usually only pays 100% of covered medical costs once you’ve reached yourout-of-pocket maximum. This threshold is a similar idea to your deductible, except usually higher — meaning you have to spend...
In most cases, preventive services are covered at 100%—meaning that the patient doesn’t owe anything for the appointment. Plans offered through thePatient Protection and Affordable Care Actpay in full for routine checkups and other screenings considered preventive, such asmammograms and colonoscopies...
insurance provider, meaning you won’t have to pay anything out of pocket. On the other hand, there are services categorized as “partially covered,” which may require you to share some of the costs with your insurance company through co-payments. These co-payment details can vary, ...
deductible meaning, definition, what is deductible: a payment that is taken away from an emp...: Learn more.
However, in some types of policies, the deductible is per event, not per year. Generally speaking, the higher the deductible you agree to pay, the lower your insurance premiums tend to be. However, the deductible for certain coverage is fixed by the insurance provider. That's the case with...
active word-forming element in English and in many verbs inherited from French and Latin, from Latinde"down, down from, from, off; concerning" (seede), also used as a prefix in Latin, usually meaning "down, off, away, from among, down from," but also "down to the bottom, totally"...