What is a deductible?

A deductible is a fixed dollar amount that you need to pay within a defined period of time (such as one calendar or plan year) before your insurer will start to cover some of the costs for covered medical services.

For example, if your insurance plan has a $1,000 deductible, you will need to pay $1,000 for your medical costs before your insurance company will pay for covered services.

Your insurance plan may include both an individual and a family deductible—one for your personal healthcare expenses and another for your family members’ expenses.