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Term Details - Deductible

A deductible is the amount an insured person must pay directly (out-of-pocket) each year before the insurance plan begins to cover healthcare costs. A policy with an individual deductible of $300 and a family deductible of $900 means that each individual person in the family must pay the first $300 of medical expenses before the policy begins paying benefits for that individual. Once the out-of-pocket expenses of all the family members combined reaches $900, then the insurance company will pay for the covered services provided to all of the insured family members.

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