Graphic Do you understand your deductibles?

Before your insurance pays, you pay

Your deductible is an amount that you typically pay out of pocket each year before your insurance policy covers your expenses or losses. Plans with lower deductibles typically charge higher premiums and vice versa. 

Although some types of insurance, including auto and property insurance, may not pay anything until you meet your deductible, health insurance typically covers some costs of routine care before your deductible is met. 

Once you've met your deductible, your plan generally covers remaining expenses or losses up to some maximum amount. Some plans may require you to pay coinsurance or a percentage of remaining costs even after you meet your deductible.

A deductible is an amount that you generally must pay in addition to your premiums before your insurance company will pay toward your claims. How your deductibles work may vary among the types of insurance you own, so it’s important to understand each policy individually.