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What do Out-of-Pocket Maximum and Annual Deductible Really Mean?

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What do Out-of-Pocket Maximum and Annual Deductible Really Mean?

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The annual deductible used to be the amount you pay until your insurance kicks in. Today, almost all policies require you pay an additional 10%-20% of your medical expenses, above the deductible, up to $10,000–this is called coinsurance. The real number you should use to compare policies is out-of-pocket maximum–your annual deductible plus the maximum amount of coinsurance you could pay up to the maximum benefit of your policy.

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