What's Deductible in Health Insurance?

Care Health Insurance highlights the importance of understanding deductibles in health insurance. A deductible is the fixed amount a policyholder must pay out-of-pocket before insurance coverage starts. For example, if your policy has a ₹10,000 deductible and you have a ₹1 lakh hospital bill, you pay the first ₹10,000, and the insurer covers the remaining ₹90,000. Deductibles differ from co-payments and sub-limits and are crucial for cost-sharing. Understanding deductibles helps in making informed decisions about health coverage and managing out-of-pocket expenses. Care Health Insurance encourages policyholders to read policy documents carefully to grasp these terms.