Have You Reached Your Medical Deductible?
Looking for a way to maximize your health insurance? Check to see if you have reached your medical insurance deductible this year.
A medical deductible is the amount you are billed for medical care before your start to receive benefits from your insurance company. For example, if you have a $1,000 deductible, you pay the first $1,000 in medical care. After that, the insurance company starts to pay a certain amount, for example, 80 percent. In this case, you pay the remaining 20 percent, not including co-pays.
Most medical insurance plans use the calendar year (January – December). With the end of the year approaching, many people have reached or are about to reach their medical deductible. If that’s the case for you, consider scheduling any necessary health appointments in 2011 instead of waiting until next year. For example, suppose you have an annual physical exam scheduled early in 2012. If you keep the appointment, you will have to pay the new deductible for 2012. But if you move the appointment to 2011, most of the costs will be covered by your health insurance because you’ve already met your deductible for the year. Contact your health insurance provider to find out where you stand with your medical deductible.
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