deductible

(redirected from annual deductible)
Also found in: Dictionary, Thesaurus, Legal, Financial, Encyclopedia.

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 ?
For services payable by Tricare but not Medicare, Tricare will pay, and you pay the annual deductible and cost share.
By comparison, the average general annual deductible for single coverage among workers enrolled in an employer-based health plan was $1,217 in 2014.
Avalere found that the average annual deductible for silver plans is $2,567, more than twice what workers in employer plans currently face.
The same young male nonsmoker could pay as much as $3,924 per year for a plan with a $500 annual deductible, a $3,000 out-of-pocket maximum and a 20 percent coinsurance rate.
For calendar year 2012, a "high deductible health plan" is defined under Section 223(c) (2)(A) as a health plan with an annual deductible that is not less than $1,200 (no change from calendar year 2011) for self-only coverage, or $2,400 (no change from calendar year 2011) for family coverage, and the annual out-of-pocket expenses (deductibles, co-payments, and other amounts) do not exceed $6,050 for self-only coverage (was $5,950 for 2011) or $12,100 for family coverage (was $11,900 for 2011).
Our family is now covered by a high-deductible health plan with a $6 million cap, premiums of roughly $10,000 per year, and an annual deductible of $6,000," Wilkes testified at a hearing on the underinsured.
There is a $135 annual deductible for physician charges and other outpatient services, after which the beneficiary pays 20 percent of the allowable charges.
For a person with a chronic condition who is on maintenance medications, those savings could potentially offset the premium even if his annual deductible were never met, and thus no insurance benefits were ever paid.
These credits, which are paid by the plan, not the participant, can be used to pay for covered medical expenses before costs are applied to the plan's annual deductible.
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.
A high-deductible health-insurance plan is an insurance plan that has an annual deductible of at least $1,000 for individual coverage, or $2,000 for family coverage and a maximum annual out-of-pocket deductible of $5,000 for individual coverage or $10,000 for family coverage.
Except for preventive care, a plan may not provide benefits during the year until the annual deductible is met.

Full browser ?