ABOUT DEDUCTIBLES, CO-PAYS AND COINSURANCE: Are there different types of deductibles?
Yes. Your deductible can be a ‘plan year’ or a ‘calendar year’. A ‘plan year’ deductible is the amount you have to pay before the insurance company begins to pay, for the 12-month period beginning and ending on the day your policy went into effect. A ‘calendar year’ deductible is the amount you have to pay before the insurance company begins to pay, for the 12-month period beginning and ending on January 1st. After the 12-month period is up then you will be subject to a new deductible. Remember that out-of-network diagnosis/treatment usually has a separate deductible. If you have a family plan, you will probably have a family deductible, which is 2 or 3 times the individual deductible. As an example, let’s say a family of five has a $1000 individual deductible and a $3000 family deductible. Any individual in the family is responsible for the first $1000 of covered expenses, but once the remaining family members hit $3000 in deductibles for the year then the family deductible is conside
