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Deductible

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A Catch For Insurers That Cut Deductibles For Healthy People
NPR  May 21  Comment 
Rewards to policyholders for claims that don't meet the annual deductible can be a boon for healthy people. But the approach might not pass the smell test in 2014 when the federal health law bans discriminating against people based on their health...
The 'Hard To Change' Legacy Of Medicare Payments
NPR  Apr 9  Comment 
One possible proposal in President Obama's budget would change the way Medicare patients pay for their care. It's been floated as a possible bipartisan compromise, but it's an idea with a long, controversial and unsuccessful history.
Wind Deductibles and Sandy: What It Means for Total Insured Losses
Insurance Journal  Nov 28  Comment 
On October 29, 2012, when Hurricane Sandy made landfall along the northeast coast—a year to the day since the last northeastern superstorm and fourteen months since Hurricane Irene — the wind speeds recorded by the National Weather Service...
High-Deductible Health Plans Can Cost Patients A Discount
NPR  Nov 13  Comment 
People hoping to save a few dollars by choosing insurance with low upfront costs may be losing out. Hospitals and other health care providers sometimes fail to apply discounts when individuals, rather than insurers, are paying the bills.
Schumer warns insurers on hurricane deductibles
CNNMoney.com  Nov 11  Comment 
New York Sen. Chuck Schumer warned insurance companies Sunday against forcing hurricane deductibles on homeowners suffering in the aftermath of Superstorm Sandy.
Consumer Group Asks Officials to Monitor Deductibles, ACC Clauses
Insurance Journal  Nov 8  Comment 
A consumer advocacy group has sent letters to government officials in the northeastern states, urging officials to monitor how insurers handle claims after Superstorm Sandy. The group, the Consumer Federation America (CFA), asked officials to pay...
Some Homeowners Unexpectedly Hit With ‘Windstorm Deductible’
Insurance Journal  Nov 7  Comment 
In the immediate days after Superstorm Sandy, officials in the Northeastern states declared that hurricane deductibles would not apply to Sandy claims. Officials from northeastern states including New York, New Jersey and Connecticut said...
Why Many Storm Losses are Not Tax Deductible
Forbes  Nov 5  Comment 
The tax treatment of casualty losses involves damage control, not tax planning. The loss has occurred and you must deal with it. The only question is how much it costs, and that’s where taxes come into play.
Hurricane Deductibles Won’t Apply for Sandy in Del. Penn., R.I., D.C.
Insurance Journal  Nov 5  Comment 
[Update: Maine also announced this week that hurricane deductibles would not apply for Sandy-related claims in the state. The Maine Bureau of Insurance told Insurance Journal Monday, Nov. 5, that hurricane deductibles will not apply since no...
Controversy Over Hurricane Deductibles May Just Be Beginning
Insurance Journal  Nov 2  Comment 
When the National Hurricane Center declared Sandy a “post-tropical storm” just before it made landfall, a lot of homeowners across New Jersey, New York, Connecticut and Maryland may have saved a lot of money. The governors of these states have...




more ▼WIKI ANALYSIS
This article is part of WikiProject Definitions. Consider editing to improve it. View articles referencing this definition.
 

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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