I’m currently shopping for health insurance and have no idea what a deductible means. I looked it up several times and I just have no idea what it means at all.
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The deductible in health insurance is the amount of money you have to pay out of your own pocket before the insurance company starts covering medical costs. For example, if your deductible is $100 and your medical issue costs $500, the insurer will pay the remaining $400. Generally, health insurance with a lower deductible will have a higher monthly cost.
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