Navigating Health Insurance Deductibles: Understanding Their Impact on Expenses
A health insurance deductible is a specified amount that an insured individual must pay out-of-pocket for healthcare services before their health insurance plan begins to cover the costs. This financial threshold is a critical component of many health insurance policies, designed to share the cost of healthcare between the insurer and the insured. For instance, if a health plan has a deductible of $1,500, the insured must pay the first…