So, I am looking for a new health insurance and I am seeing alot of deductible and Out of pocket but idk how they are different. Like, I understand that prescription and visits go to your deductible but what go to your Out of pocket
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Deductible: This is the amount of money you have to pay out of your own pocket for your medical bills before your health insurance starts to help. For example, if your deductible is $1,000, you need to pay the first $1,000 of your medical bills in a year. After you’ve paid that, your insurance starts to cover a portion of your bills.
Out-of-Pocket Maximum: This is the most you’ll have to pay yourself for covered medical services in a year. It includes your deductible plus other costs like copayments and coinsurance. Once you’ve paid this amount, your insurance covers 100% of your covered medical expenses for the rest of the year.
Deductible is what you pay first
Out-of-pocket maximum is the most you’ll ever have to pay in a year.
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