What does a $700 deductible mean for health insurance?

  • by nicole
  • Nov 14,2017
  • 5 answers

What does a $700 deductible mean for health insurance?


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Insurance Answers (5)

Love big words 3 days ago

The doctors office will likely work with you. You can also call Catholic Charities, they often provide assistance to indigent mothers to be. You need not be Catholic to get their help.

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Insurance Pickle.com 7 days ago

No. It just means that you're responsible for the first $700 of expenses/bills generated from you using providers (seeing doctors). You don't pay it up front. You pay for the services as you use them.

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Ryoomi 7 days ago

That means the insurance company won't pay anything towards your doctor bill until you pay $700 to the doctor first.
So this is what happens: You go to your doctor. You present you insurance card. You pay nothing at the time, except for maybe your copay (could be $25, could be $50). Then you leave. The doctor office will send the bill to your insurance company. The insurance company tells the doctor that you haven't met your deductible yet. then the Doctor sends you a bill based on what you received from the doctor - for this example, lets use $350. You then have to pay the doctor $350 for this bill.
You go to the doctor again and you the same thing happens: Give insurance card, You pay the copay ($0-$50), Doctor bills Insurance, Insurance says you have to meet deductible first before they pay anything, doctor sends you the bill, The bill says $350 and you pay that amount to the doctor.
AT this point your $700 deductible is met. So things change from here on out. The next time you go to the doctor, you give insurance card, you pay your copay, and the bill goes to your insurance company. Based on whatever insurance plan you picked, the Insurance company will then pay for pay for the bill. So if the doctor bills $9500 (the average cost to have a baby), the insurance company could pay anywhere between 70% - 100% based on the plan you selected. So you may only owe between $0 - $2850.
Keep in mind there is something called a max out of pocket expense. This means that once you have payed around $9000 our of your own pocket, the insurance company will have to pay ALL of your medical expenses from here on out, no matter the cost.
Insurance costs suck right now. Sorry.
Check to see if you qualify for medicare. You would basically pay nothing for your baby's delivery.

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StephenWeinstein 7 days ago

It does not mean that you have to pay anything before you go to the doctor.
It means that you have to pay the first $700 of medical bills. So, for example, if the doctor charged $140 per visit, then you would pay for the first 5 visits, and then they would pay part of the cost (except your copay) for the 6th, 7th, 8th, etc., visit. But you wouldn't pay $700 before the first visit. You would pay (in this example) $140 for the 1st visit, $140 for the second, etc.

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B 7 days ago

a deductible of any amount means you will tell the doctor's office your insurance # and they will bill the insurance. If the doctor bills the insurance $800, then it will get $100, and the doc will bill you $700.

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