Many health plans require you to meet a deductible before starting to help with medical bills.
A deductible is a specific dollar amount your health insurance plan may require you to pay out of pocket toward covered medical care each year, before your health plan begins to pay for covered medical expenses.
Your annual deductible can vary significantly from one health insurance plan to another. Plans with higher metal levels (such as “gold” or “platinum” plans) tend to have lower annual deductible but higher monthly premiums. Plans assigned lower metal levels (like “bronze” plans) tend to have lower monthly premiums but higher annual deductibles.
During the 2016 nationwide Obamacare open enrollment period, eHealth found that shoppers not utilizing Obamacare subsidies selected with deductibles as shown*:
- The average individual deductible was $4,358
- The average family deductible was $7,983
Watch our video about deductibles
To understand what deductibles are and how they may affect you, watch our informative video.
Review the infographic below for more information on deductibles
*Based on eHealth’s 2016 Health Insurance Price Index Report.