deductible

(redirected from deductibles)
Also found in: Dictionary, Thesaurus, Legal, Financial, Encyclopedia.
Related to deductibles: Co-Pays

payment

 [pa´ment]
remuneration in exchange for goods or services.
prospective payment payment to a health care facility at a predetermined rate for treatment regardless of the cost of care for a specific individual patient.
third party payment payment of hospital or other health care bills by a source other than the patient; the most common sources are private or governmental insurance. Called also third party reimbursement.

deductible

[dēduk′tibəl]
an amount paid each year by a health insurance plan enrollee before benefits begin. It is not synonymous with copayment.

de·duc·ti·ble

(dĕ-dŭk'ti-bĕl)
The amount for which the insured is responsible before the health care plan pays; amount usually set on an annual basis.
Synonym(s): annual deductible.

de·duc·ti·ble

(dĕ-dŭk'ti-bĕl)
The amount for which the insured is responsible before the health care plan pays; amount usually set on an annual basis.
Synonym(s): annual deductible.

deductible

(diduk´təbəl),
n 1. a stipulated sum the covered person must pay toward the cost of dental treatment before the benefits of the program go into effect. The deductible may be annual or payable only once and may vary in amount from program to program.
n 2. the amount of dental expense for which the beneficiary is responsible before a third party will assume any liability for payment of benefits. Deductible may be an annual or one-time charge and may vary in amount from program to program. See also family deductible.
deductible amount,
n the portion of dental care expense the insured must pay before the plan's benefits begin.
deductible clause,
n a provision in an insurance contract stipulating that the insurer will pay only that amount that is in excess of a specified amount.
References in periodicals archive ?
The ACA bears much responsibility for the high deductibles.
The Hartford will slice $150 off the collision deductible after five years without crashes or violations.
The Kaiser Family Foundation analysis finds that most families don't have enough assets to cover a mid-to higher-range deductible in a private health insurance plan.
On Average Premium Increase More Expensive Than Deductible Savings
But employees accustomed to thinking a doctor's visit costs a $15 co-payment are in for sticker shock once they start writing checks for deductibles.
Nineteen- to 29-year-olds who sign up for a health savings plan can anticipate a monthly premium of just $77 with a deductible that ranges anywhere from $2,400 to $3,500, according to James A.
The contribution limit for an individual eligible for calendar-year 2005, is the lesser of (1) the HDHP annual deductible (minimum of $1,000 for self-only coverage and $2,000 for family coverage) or (2) $2,650 for self-only coverage and $5,250 for family coverage (Rev.
Health savings accounts coupled with high deductible health plans have potential pitfalls, especially for families with low incomes or individuals with chronic health conditions, who are at greater risk of accruing burdensome medical debts and facing barriers to needed health care," Commonwealth Fund President Karen Davis said in a statement.
Typically, despite the damage to the building and its contents and the potential interruption of business, the total loss doesn't exceed the deductible on the company's property insurance policy (which may be as high as $500,000 or more).
The best buys are available through very large groups; for example, you might be able to buy good major medical coverage, with a catastrophic deductible of $25,000 and $1 million of maximum coverage, for an annual premium of about $200.
That is one main reason that employers have paid for insurance policies with low deductibles.
Before getting involved with any liability deductible buy-backs, you should have the answers to the following questions: