Are you familiar with the term “deductible”? According to healthcare.gov, the official definition of a deductible is the amount you pay for covered health care services before your insurance plan starts to pay. Everyone has a deductible on their insurance plan, even if it’s $0!
But did you know that there are two different types of deductibles? Your insurance plan may have either an embedded deductible or a non-embedded deductible. Here’s the difference between the two:
· Non-embedded: if you are on a family plan, meaning that yourself and a spouse or dependent is enrolled with you, you have collectively meet the family deductible before your insurance plan will start contributing to your cost of care.
· Embedded: If you are on a family plan or not, if you meet your individual/single deductible, the insurance plan will start contributing to your cost of care.
It’s good to know whether or not your insurance plan has an embedded or non-embedded deductible, and you can find that out by calling the carrier direct using the number on your ID card or by giving Clevenger Insurance a call today at 574-267-2181.