Many people are confused about what it means to have an insurance policy with a deductible. The deductible refers to the amount of money that the insured would need to pay before any benefits from the health insurance policy can be used. This is typically a yearly amount so when the policy starts again, usually after a year, the deductible would be in effect again. Some services, like annual doctor visits, may be available without meeting the deductible first. However for most other healthcare services the deductible must be met first.
If you have a high deductible plan, there are options to help make healthcare treatments affordable prior to meeting your deductible. At Absolute Health Chiropractic, we offer Care Credit to patients, which enables you to finance a portion or all of your deductible interest free. This way you are still able to get the treatment you need without having to pay the entire deductible up front. This allows you to spread your payments out over a longer period of time and decrease the stress of finances. There is also an option to open a Health Savings Account which is a pre-tax account that will help you maximize your savings when using it toward healthcare services.
Stay tuned for my next 2 blogs where we explore Care Credit and Health Savings Accounts more in depth.