Deductible

RECENT NEWS
Forbes  Aug 12  Comment 
Though employers won?t have to pay the ?Cadillac tax? on rich medical plans until 2018, they are mitigating potential financial hits from it by spending more on wellness and shifting workers to high deductible plans so employees think twice about...
NPR  Aug 5  Comment 
Some people wind up having to pay hospital deductibles on top of other medical deductibles. But those do not apply to outpatient procedures.
MedPage Today  Jul 3  Comment 
(MedPage Today) -- Health spending in employer-based market is trending downwards
Forbes  Jun 2  Comment 
Unless you've been living in a cave, in the nether regions of a remote mountain range, that happens to be located on the dark side of the moon, you're well aware that former Olympic gold medalist Bruce Jenner has publicly transitioned into a woman...
New York Times  May 29  Comment 
An analysis done for the online site insuranceQuotes.com found that the numerous variations on deductibles can be traced in part to the differences in state laws.
Forbes  Jan 30  Comment 
If you buy a wardrobe for work, isn't it a business expense you can write off on your taxes? It may depend on how unique you look, and who looks more unique than Lady Gaga?
Insurance Journal  Jan 13  Comment 
Berkshire Hathaway Specialty Insurance (BHSI) is broadening its casualty appetite in the U.S., lowering its minimum policy premium for eligible products liability, general casualty, energy and trucking risks, while introducing deductible options...
Forbes  Nov 25  Comment 
The Tax Court decision in the case of Willam D. Evans had the look of a hobby loss case, which was kind of neat coming on top of a really good horse case.  Well, it was about racing - motorcycles not horses - but it was not a hobby loss case....
Forbes  Nov 25  Comment 
Navigating your health insurance options can be difficult when you don’t know how cost-sharing works. Understanding concepts like deductibles and out-of-pocket maximums is important in choosing the best plan for your needs.
Forbes  Nov 19  Comment 
Almost half of the nation’s large employers are offering a consumer-directed health plan, which uses a high deductible strategy that is designed in part to make workers think twice before choosing an expensive and potentially unnecessary...




 

A deductible is the amount that a policy holder is responsible for paying per accident before his/her insurance policy kicks in. Deductibles vary by state, but are most often specified in amounts of $100, $250, $500 or $1,000. For most insurance companies, the higher your deductible, the lower your premiums. In other words, if you're willing to pay higher out-of-pocket costs, you can lower the total cost of your insurance. For example, if you are in an accident that causes $7,500 worth of damage and your deductible is $500, you are required to pay $500 before your insurance company takes care of the remaining $7,000.

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