Contact Us: ​(936) 327-4364
FIRST COMMUNITY FINANCIAL GROUP, INC.
  • Home
  • Quotes
    • Auto Quotes >
      • ATV Insurance Quote
      • Auto Insurance Quote
      • Classic Car Insurance Quote
      • Golf Cart Insurance Quote
      • Motorcycle Quote
      • RV Insurance Quote
      • SR22 Insurance Quote
    • Property Quotes >
      • Home Insurance Quote
      • Condo Insurance Quote
      • Flood Insurance Quote
      • Landlords Insurance Quote
      • Mobile Home Insurance Quote
      • Renters Insurance Quote
    • Business Quotes >
      • Business Insurance Quote
      • Business Owners Package (BOP) Insurance Quote
      • Builder’s Risk Quote
      • Commercial Auto Quote
      • Farm Insurance Quote
      • Garage & Garagekeeper’s Quote
      • General Liability Quote
      • Insurance Bond Quote
      • Workers Compensation Quote
    • Health Quotes >
      • Health Insurance Quote
    • Other Quotes >
      • Boat Insurance Quote
      • Event Insurance Quote
      • Umbrella Insurance Quote
  • Service
    • Report a Claim
    • Policy Review
    • Make a Payment
    • Update Contact Info
    • Policy Changes
    • Proof of Insurance
    • Contact My Carrier
    • Free Consultation
  • Insurance
    • Vehicles >
      • Auto Insurance
      • ATV Insurance
      • Boat Insurance
      • Classic Car Insurance
      • Golf Cart Insurance
      • Motorcycle Insurance
      • RV Insurance
      • SR22 Insurance
    • Property >
      • Home Insurance
      • Condo Insurance
      • Flood Insurance
      • Landlords Insurance
      • Mobile Home Insurance
      • Renters Insurance
    • Business >
      • Business Insurance
      • Business Owners Package (BOP) Insurance
      • Builder’s Risk Insurance
      • Commercial Auto Insurance
      • Farm Insurance
      • Garage & Garagekeeper’s Insurance
      • General Liability
      • Insurance Bonds
      • Workers Compensation
    • Health >
      • Health Insurance
    • Other >
      • Event Insurance
      • Umbrella Insurance
  • About
    • Our Staff
    • Client Testimonials
    • Refer a Friend
    • Agency Photo Gallery
    • Accessibility Statement
    • Insurance Carriers
    • News
    • Blog
  • Contact
  • Home
  • Quotes
    • Auto Quotes >
      • ATV Insurance Quote
      • Auto Insurance Quote
      • Classic Car Insurance Quote
      • Golf Cart Insurance Quote
      • Motorcycle Quote
      • RV Insurance Quote
      • SR22 Insurance Quote
    • Property Quotes >
      • Home Insurance Quote
      • Condo Insurance Quote
      • Flood Insurance Quote
      • Landlords Insurance Quote
      • Mobile Home Insurance Quote
      • Renters Insurance Quote
    • Business Quotes >
      • Business Insurance Quote
      • Business Owners Package (BOP) Insurance Quote
      • Builder’s Risk Quote
      • Commercial Auto Quote
      • Farm Insurance Quote
      • Garage & Garagekeeper’s Quote
      • General Liability Quote
      • Insurance Bond Quote
      • Workers Compensation Quote
    • Health Quotes >
      • Health Insurance Quote
    • Other Quotes >
      • Boat Insurance Quote
      • Event Insurance Quote
      • Umbrella Insurance Quote
  • Service
    • Report a Claim
    • Policy Review
    • Make a Payment
    • Update Contact Info
    • Policy Changes
    • Proof of Insurance
    • Contact My Carrier
    • Free Consultation
  • Insurance
    • Vehicles >
      • Auto Insurance
      • ATV Insurance
      • Boat Insurance
      • Classic Car Insurance
      • Golf Cart Insurance
      • Motorcycle Insurance
      • RV Insurance
      • SR22 Insurance
    • Property >
      • Home Insurance
      • Condo Insurance
      • Flood Insurance
      • Landlords Insurance
      • Mobile Home Insurance
      • Renters Insurance
    • Business >
      • Business Insurance
      • Business Owners Package (BOP) Insurance
      • Builder’s Risk Insurance
      • Commercial Auto Insurance
      • Farm Insurance
      • Garage & Garagekeeper’s Insurance
      • General Liability
      • Insurance Bonds
      • Workers Compensation
    • Health >
      • Health Insurance
    • Other >
      • Event Insurance
      • Umbrella Insurance
  • About
    • Our Staff
    • Client Testimonials
    • Refer a Friend
    • Agency Photo Gallery
    • Accessibility Statement
    • Insurance Carriers
    • News
    • Blog
  • Contact

First Community Financial Group, Inc. Blog

What Is a Health Insurance Deductible?

2/18/2023

0 Comments

 
Everyone needs health insurance, now more than ever. With the COVID-19 pandemic in its second year, there has never been a better reminder that taking care of your health is key to remaining well and safe. The right health insurance can help make certain you receive both routine and critical medical care affordably at the time you need it. 

Though health insurance substantially reduces your out-of-pocket burden for medical expenses, it does not eliminate that burden. Most care requires some degree of cost-sharing, meaning you must cover a portion of the expenses yourself. One of these personal costs may be your deductible. A deductible is a specific cost burden that will accompany certain medical procedures or services. Here’s how it works. 

How Do Deductibles Work? 
A deductible is a fixed, yearly amount that you must pay for medical expenses before your health insurance will cover the remaining costs of care. Deductibles are designed to lessen the cost burden posed to medical insurers. By sharing some costs, insurers can continue to offer affordable premiums and more expansive coverage to all of their policyholders. 

For example, suppose that your health insurance plan has a $2,000 annual deductible. This means that you will have to pay up to $2,000 out of pocket in a single year before your insurance plan will cover certain costs of care. After you have paid off the deductible, then your plan will cover additional eligible expenses. In this example, if you received a $5,000 surgery bill, you’d pay $2,000 and your insurance would cover the rest. Once your plan renews, the deductible obligation starts over. 

When Do I Have to Pay It? 
Health insurance deductibles do not necessarily apply to every medical expense you might face. Some plans require you to pay 100% of the costs of care until you have met your deductible while others exempt certain care from the deductible obligation. 

Most plans exempt regular checkups, medically necessary services and preventative care from deductible rules. You may only have to pay the necessary copayment or coinsurance regardless of whether you still owe money on your deductible for a checkup, lab work, vaccination or other routine care. This enables you to still receive the care that is most necessary for you to stay well, without facing an undue cost burden. 

Your deductible will still often apply to certain care costs, such as inpatient care expenses, certain imaging services or other care that your insurer might not deem medically necessary. You can examine precisely how your plan outlines your own deductible obligations by reviewing your explanation of benefits document. This will outline exactly how and when the deductible will apply. 

For further information on your health insurance deductible, contact our agency today! 
0 Comments



Leave a Reply.

    Contact Us

    (936) 327-4364
    115 W. Polk St.
    Livingston, TX 77351​
    Click Here to Email Us

    Archives

    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022

    Categories

    All
    ATV's
    Autos
    Boat
    Business Insurance
    Commercial Insurance
    Do It Yourself
    FAQs
    Farm
    Financial
    Flood
    Golf Carts
    Health And Wellness
    Homes
    Hurricane Season
    Insurance
    Life Insurance
    Local
    Mobile Homes
    Motorcycles
    RV's
    Safety
    Savings
    Seasonal
    SR22 Insurance
    Travel

    RSS Feed

Navigation

Homepage
Insurance Quotes
Policy Service
Insurance Products
Contact Us
Agent Login

Connect With Us

Share This Page

Contact Us

First Community Financial Group, Inc.
115 W. Polk St.
Livingston, TX 77351
(936) 327-4364
​Click Here to Email Us
Review Us

Location

Picture
 | CC-BY-SA-3.0 | Website by InsuranceSplash