I have a deductible on my health insurance what does it mean?

Question

Alright i have bcbsil and they said that my deductible for the year is 300. now im confused as to what that means. and even what goes towards bringing that deductible down. in order for the insurance to pay. PLEASE GIVE ME DETAILS.

Answer 1

First, call BCBS and ask them the question.  Generally speaking a deductible is what you must pay before insurance will cover the cost of a procedure/appointment/drug.  The level of deductible is typically set based on the plan your employer chooses.  If you have multiple choices for health care, check out the deductible and copay information.  Remember, if the deductible is low, the monthly premium is typically higher.

Answer 2

For doctor visits you will pay your co-pay which does not count towards the deductible.

The deductible is the amount you pay before the insurance company starts paying part of your medical bills. With BCBS anything beyond a Dr visit such as lab work, xrays, emergency room visit etc you will pay the first $300 per year. Once you meet that $300 the insurance company starts paying and you start paying your co-insurance percentage, with BC it is usually an 80/20 split.

You pay 20% until you reach the maximum out of pocket for the year. If you have a family plan the deductible and max out of pocket only has to be met twice.

Answer 3

Typically anything that you pay out of pocket, except for copayments and prescriptions (usually separate or no deductible), will go towards the deductible.

Answer 4

There is a lot of useful and intresting information here to help answer your quetion.http://health-insurance.expert-tip.info/...

Answer 5

That means, you have to send $300 in medical bills to your insurance company, which YOU have to pay, before THEY pay anything.  

So, the first $300 YOU pay.