How does a deductible work?


When you obtain your health insurance plan, you have the option of adding deductible. For example, if you choose a deductible of $200, you’ll need to pay the first $200 of a covered claim or covered claims in any period of cover directly to your hospital, clinic or doctor at the time of treatment. So if your treatment costs are $1000, you’ll need to pay $200, and the insurer will pay the remaining $800 of covered costs.

Updated on 30/04/2018

Was this article helpful?

Related Articles