One of the first choices you’ll encounter in selecting health coverage is choosing a deductible amount. Usually, choosing a higher the deductible can lower your premium or other factors. A deductible is the amount you have to pay out-of-pocket for covered services before your insurance begins to pay its share. It doesn’t include premiums, or costs that aren’t covered by your plan. Once you meet your deductible your plan will pay its share of your coinsurance.
- Under the ACA some essential benefits like vaccinations and an annual wellness visit are included without cost sharing, including the deductible.
- Make sure you know what’s covered without having to meet your deductible and take advantage of your annual preventive/wellness benefits. Typically these include physicals and screenings like mammograms, bone scans, colonoscopies, and other preventive services.