What is a Deductible?
The amount of money you must pay in covered expenses over 1 year. After you pay your deductible, your plan or program will start paying for certain covered expenses.
Example: If you are in a plan that has a $1,000 deductible, you must spend a total of $1,000 on your health care within 1 year before your plan or program will start paying for your health services. Your deductible resets once every year.