eli5 employee benefits deductible

Question

i am simply not understanding what exactly a deductible is does that mean
if my deductible is 3,000 and i use to it to go to therapy i have to pay 3,000 in therapy sessions before they start to cover it or like how does it work?
(i’m 25 and don’t rlly have parents to explain it to me and google is just confusing me)

In: Economics

Answer 1

Generally you are correct the deductible is the amount you have to pay out of pocket before insurance kicks in. In theory this is to keep you from using insurance for little things and as a way to reduce premiums.