Deductible in Medical Billing
A deductible is the amount a patient must pay out of pocket for healthcare services before their insurance plan begins covering costs.
Deductible in Medical Billing Explained
In medical billing, the deductible is the initial financial responsibility of the patient before insurance benefits kick in. Once the deductible is met, the insurance company begins to cover services, either in full or with coinsurance. Each year, the deductible resets, and the patient must meet it again.
For example, if a patient has a $1,000 deductible, they must pay for the first $1,000 of their medical expenses before their insurance starts to cover additional costs.
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