how does a health insurance deductible work
For example, if your plan deductible is $1,500, you would pay 100 percent of your health care charges out of pocket until the amount you paid reached $1,500. After that, your insurance company will pay a percentage of the charges based on the details of your plan. If you choose an insurance plan with a high deductible amount, you will most likely have a lower monthly premium. If your plan has a high monthly premium, the deductible amount will be lower.
Deductible vs. Premium. A health insurance premium is the amount you pay each month to your insurance provider. This is the only payment you will have if you never use your health insurance. You will continue to pay premiums until you no longer have the insurance plan. A deductible only has to be paid if and when you use the insurance.