Understanding health insurance can be confusing, so Royalton Psychological Associates, LLC. has put together this explanation of insurance deductibles.
What is a deductible?
The deductible is the amount you pay for covered health care services before your insurance plan starts to pay. For example, with a $2,000 deductible you pay the first $2,000 of covered services yourself.
What happens when the deductible is met?
After you pay your deductible, you usually pay only a copayment or coinsurance for covered services. Your insurance company pays the rest.
How often must the deductible be met?
The deductible must be met each year (often the calendar year) and resets yearly.
How can I find out details about my deductible?
A deductible can vary greatly, from $500 per year to $15,000 per year depending on your plan. Plan benefits can also vary from year to year, so it is important to check with your insurance provider to see if there are any changes (the phone number and/or member portal website listed on the back of your insurance card provide easy access to this information). Royalton Psychological Associates, LLC. will not know your deductible until we verify your benefits during your first appointment, so we recommend checking with your insurance provider first if you are unsure of your plan benefits or deductible.