Deductibles are a common feature of most types of insurance, from car to home to health. But what is a deductible?
Put simply, a health insurance deductible is the amount that a policyholder must pay toward his or her medical expenses before the insurance company begins to pay its share. “It’s usually a calendar-year amount,” said
“Let’s say you have a health plan with a
The full article, “What’s a Deductible?” explains deductibles in detail, including how:
+ Many preventive care visits (such as routine exams, well-child visits, screenings, and immunizations) are not subject to deductibles
+ Deductibles differ from copays, another type of cost-sharing with which they are often confused
+ Raising your plan’s deductible is usually a good way to lower your premium (the amount you pay, usually each month, to maintain coverage)
+ Family plans often have different types of deductibles—and one type in particular could save you lots of money
The article also includes information about HSA-qualified, high-deductible health plans that give members their very own Health Savings Accounts from which they can pay for qualified medical expenses tax-free.
WPS encourages individuals and families looking for more valuable health and insurance-related tips and strategies to check out the
Founded in 1946, WPS is Wisconsin’s leading not-for-profit health insurer, offering affordable individual health insurance, family health insurance, high-deductible health plans, and short-term health insurance, as well as flexible and affordable group plans and cost-effective benefit plan administration for businesses. The WPS Medicare division administers Part A and B benefits for millions of seniors in multiple states, and the WPS TRICARE division serves millions more members of the U.S. military and their families. In 2012, the international Ethisphere® Institute named WPS one of the World’s Most Ethical Companies for the third straight year. WPS is the only health insurance company to earn this distinction multiple times. For more information about
Read the full story at http://www.prweb.com/releases/2012/4/prweb9452578.htm
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