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| Individual & Family |
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| Disability |
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Critical Care
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Disability Insurance Deductible When you enter into a contract with a health insurance company you are buying protection from the risk of loss. The insurance company is on the hook for the lifetime benefit one, two, three million dollars or more. If the risk on your part is zero and the insurance company bares all the risk the premium is very high. But if you are willing to take on some of the initial risk the premium is reduced. So a deductible represents the initial risk you take. Deductibles can be 0,$250, $500, ý.$10,000. The higher the deductible the lower the premium. Deductibles can be applied to all medical or prescription services. Office visit co-pay and prescription drug card co-pay do not apply to deductibles. Deductibles are tracked on a calendar year. Co-Insurance Co-insurance is the percentage of the cost after the deductible that you are responsible for after the deductible is met. Normally expressed as 80-20 70-30 50-50 the higher number is the percent paid by the insurance company up to a stop loss amount (max out of pocket) which may be from 0 to $20, 000. Co-insurance maximums are tracked on calendar year. Exposure Exposure is the combined amount of deductible and co-insurance maximum. If you have a 70,000 operation with a 1000 deductible plan with a 3000 co-insurance You would have to pay $4000 ,
For more information call us: Email: dpyzyna@pyfinancial.com |