Deductible

Deductibles are the amount of money the insured must pay before the health insurance policy can be used. The deductible can reduce the amount of the cost of insurance by allowing the insured, whether it is a doctor, nurse or patient, to pay the "first dollars" of a specific claim. This means your coverage does not begin until you have met your deductible and you can expect to pay more out of pocket than with a traditional plan.

Patients with a high deductible insurance plan should approach medical care cautiously. This means it is a good idea to understand the cost of your medical service prior to each doctor's visit and how much you will have to pay. Other patients may have to discuss options for their care or talk to their doctor about accepting installment payments or accepting a lower fee. Keep in mind, the best way to avoid high medical costs is to stay healthy.

Medical doctors who have high deductible insurance plans may have to pay some of the costs of the settlement case if they are sued, with the insurance company only paying if the settlement reaches a specific amount.