Have you ever gone to the doctor and gave them your insurance information? In many cases, you gave them your health insurance card and didn’t have to pay a dime while you were in the office. However, out of nowhere, weeks later, you received a letter stating you owe money to your doctor’s office for services rendered while you were in their office.

Have you ever wondered why you are required to pay anything when you pay a premium for health insurance? At Fortress Insurance Agency in Overland Park, KS, we understand that it can be a bit confusing, so we are here to help you understand your health insurance policy.

What is a health insurance deductible?

You may have received a bill from your doctor’s office weeks after your visit because your medical provider sent your information and the details of your visit to your insurance company to request payment for their services. However, it is possible that you have not met your health insurance deductible yet.

Your health insurance deductible is the amount you must pay out of pocket for medical expenses before your policy will pay out for any of your medical claims. For example, you have a health insurance policy on yourself, and the deductible is $2000. Your insurance company will not pay for claims until you have been billed the first $2000 of medical expenses from doctor visits or hospital stays. In some cases, your prescription costs are included in that deductible amount.

Once you have met your deductible, your insurance will pay a co-insurance amount for your visits for the remainder of the policy period (usually until the end of the year). That co-insurance amount could be 80% of your expenses, up to 100%.

For more information about Health Insurance

To learn more about health insurance, deductibles, co-insurance, and other details, call Fortress Insurance Agency in Overland Park, KS, at (402) 201-6931 today.