When you signed up for your health insurance plan, you likely took into account how much you wanted to pay each month, which was a factor in determining what health plan fit your needs and budget. And with your plan came countless health insurance terms used to describe the various costs, such as ‘coinsurance’, ‘premium’ and ‘copay’, that may not always be easy to understand. A deductible is the amount you owe for covered health care services before your health care plan begins to pay.
The below infographic explains a bit more about one of these terms: your deductible.
Click to expand.
To learn more about what health insurance is and to understand your health plan, visit bcbsm.com.
Next time you visit the doctor or pay a health insurance bill, take a look at your deductible and your monthly premium. Doing so can help you budget for better health, determine if your current health plan is right for you and achieve financial success.
Want to learn more about how to maximize your health plan? Read these blogs:
- 7 (More!) Common Health Insurance Terms Explained
- A Guide to the ER: When to Go, When Not to Go
- What You Need to Know About Prescription Drug Costs
Photo credit: US Army Africa