What is a health insurance deductible? A plan’s deductible is the amount of money you must pay for your medical care before your health insurance begins to pay. Here are 6 things you need to know about health insurance deductibles: 1. Unlike other types of insurance (e.g., auto or homeowners insurance) where claims are not covered at all until the policy deductible has been met, most health insurance plans do
How Long is My Health Insurance Coverage Effective?
In general, health insurance policies are effective for 12 months, and the period during which coverage is provided is called the plan’s benefit year. For individual health insurance policies — whether purchased on or off the exchange — the benefit year runs on a calendar basis, from January 1 – December 31. However, not all policies will be effective for the full 12 months. This is because the start date
