Quote:
Originally Posted by CyberSEO
Numbers after deductions? Sorry but I don't understand this:
"Now I am paying $679 a month with a $1,000 deductible and max out of pocket per year was $1,500 (54 year old Male)"
So how many a month (in raw cash)?
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$679.00 a month there.
The deductible comes into play when you use some services but not always all (but sometimes all. depends on the policy).
So, the $1000.00 deductible means that the insurance does not pay out anything until the total expenses are over $1000. Then the insurance starts paying out at some % rate depending on the services rendered.
Often an office copay comes into play and that is often not subject to the deductible. So, say a person has an office copay of $25.00 that means when they go to their main doctor they pay $25.00 for the visit and nothing else (other than the monthly premium).
Copays though are also sometimes subject to the deductible so for some people they would start paying $25.00 per office visit after they satisfied the $1000 deductible.
The $1500 is a maximum out of pocket. meaning that once the user has paid in $1500 in expenses the insurance covers 100% of all covered expenses.
It all depends on the actual policy and it can get very complicated very rapidly.
It was already complicated before Obamacare came into play. But Obamacare as it was put into play is basically a boondoggle for the insurance companies. It has helped a lot of people get insurance that could not before but it forces everyone to purchase a policy whether they want to or not. The insurance companies love that part.
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