What Is A Health Insurance Deductible?

As you shop for health insurance, it’s important to look at what the total cost of healthcare is going to be. While you may be focused on the monthly premium that you pay in Mt. Ephraim, NJ, there are other fees to look at, too. One of these is the deductible.

Most health insurance plans require you to pay a co-pay when you visit the doctor. This is the fee that you are responsible for. Then, the rest is paid for by your health insurance. At Marino Agency Inc., our goal is to help you to understand these fees better.

The deductible is what you are responsible for above and beyond the co-pay, especially for major surgeries, visits to specialists, and more. You may have to reach an out-of-pocket deductible for you individually or for your family as a whole before the insurance company will pay for everything. Depending on the plan, this could be several thousand dollars.

The average family doesn’t reach their deductible, which means they pay out money throughout the year with little to no hope that insurance will pay for everything. However, that doesn’t mean that you’re paying full-price, either. 

It can be overwhelming to find the health insurance policy that is right for you because many people fail to look at the deductible. They use the monthly premiums and their co-pays as a guide to see what they can afford. You need to weigh in the deductible, too, so that you don’t get stuck paying out too much in the event that something major happens, like someone breaking their arm or leg.

When you’re shopping for health insurance, find out what all of the expenses are going to be. Call us at Marino Agency Inc. to get help with finding health insurance that fits your budget in Mt. Ephraim, NJ.