Micks asked in Business & FinanceInsurance · 4 weeks ago

How often do you pay for health insurance deductible?

I have $4000 deductible. Do I have to pay it only one time and rest is copay? I read in some articles saying you pay it every year. That's ridiculous if that's how it is. I am confused

13 Answers

  • Amy
    Lv 7
    3 weeks ago

    It means you pay the first $4000 of medical expenses every year (other than basic preventative care). If your total expenses are less than $4000, you pay however much they are.

    If you don't get sick or injured at all, you don't have any medical expenses to pay.

    If you need a $50 medicine, you pay $50. 

    If you get hit by a car and need $100,000 of surgery, you pay $4000.

    Insurance is protection against the really big charges. If nothing bad happens to you, you don't get back as much money as you spent on insurance.

  • 4 weeks ago

    The $4,000 is your annual deductible which will apply each year.

  • car253
    Lv 7
    4 weeks ago

    See if your plan offers free Virtual Doctor visits like Teledoc.

    I love it.   Best thing ever.   You get a doctor's visit right in your own home.

  • 4 weeks ago

    You will pay out of pocket for your medical expenses until that $4000 is reached, then your plan will pay the expenses--however much they allow according to your plan. A $4K deductible is extremely high. And no, you can't pay it ahead of time. 

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  • 4 weeks ago

    Once per year.

  • Anonymous
    4 weeks ago

    Mine is $7400 or something. Ive never paid it. Yet. One of these years I probably will.  There is no such thing as copay for mine. Its 100% out of pocket until I go over the $7300 in a year.  Then its free. Until the new year starts.

    I do get a free flu shot. And I could probably get a colonoscopy free if I

    asked for it.

  • n2mama
    Lv 7
    4 weeks ago

    That’s probably your annual deductible. So you pay 100% of your medical costs until you meet your deductible, then your insurance kicks in to pay their part (often 80%, some plans may pay 90%) until you meet your out of pocket maximum, then the insurance pays 100% of your qualifying expenses. Yes, it is ridiculous, but I’m guessing based on how high your deductible is that you have a high deductible low premium plan, so you pay less each paycheck, but more out of pocket if you have a medical event. Your plan may offer a lower deductible options, but you will pay more from each check for that plan.

  • 4 weeks ago

    If you have medical bills each year, you pay a deductible each year.

    The deductible is the part of the bill that you pay before the insurance company "pays".

    -- the insurance reduces the cost from the first bill if you use in-network doctors/medical facilities.  However, it doesn't actually pay until you have paid the deductible.

    This is no different than car issue.  Your car insurance doesn't pay for every small ding or scratch.  The reason is that your insurance cost would be unafffordable. Health insurance covers after major illnesses.

    To clear up other answers:

    DEBS information is going on 10 years outdated

    - there is an annual deductible and annual out of pocket maximums.  Lifetime maximum of benefits was removed in 2010.

    - J saying that $4000 is high.  It's not.  The higher the deductible, the lower the monthly premium.

    Deductibles are variable costs

    Monthly premiums are fixed costs.

    If you don't expect to have many medical bills - it's better to have a higher deductible and pay out of pocket for low costs medical expenses. 

  • 4 weeks ago

    It means that when you go to the doctor you pay out of pocket until you have paid $4000. If you rarely go to the doctor, you will pay less obviously. It does not mean you have to pay someone $4000 every year.

  • J
    Lv 6
    4 weeks ago

    That’s an extremely high deductible. Basically it means you pay up to $4000 out of pocket each year and anything beyond that $4000 will be covered. It still may cover or partially cover certain things even if you haven’t met the deductible. Ask your insurance company. This is why we need better health care in this country. 

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