10 Questions
Which of the following best defines an insurance deductible?
The amount of money the insured person must pay before the insurance policy starts covering expenses
What happens if a medical bill is $2,000 and you have a $1,000 deductible?
You would be responsible for paying the first $1,000 and your insurance would cover the remaining $1,000
Do all insurance policies have deductibles?
No, some insurance policies, such as liability insurance, may not have a deductible at all
What factors can affect the amount of an insurance deductible?
The type of insurance policy, the level of coverage, and other factors
What can understanding the insurance deductible help consumers with?
Making informed decisions when purchasing insurance and filing claims
What is an explanation of benefits (EOB)?
A document that breaks down how your insurance processed a claim for the services you received
Why is it important to save your EOB?
It helps you understand how your bill is broken down between the medical service provider(s), your insurance, and you
What should you have available when speaking with the healthcare provider about your bill?
Your EOB
What does an EOB show?
How your insurance processed the claim for the services you received
What is the purpose of an EOB?
To explain how your insurance processed the claim for the services you received
Test your knowledge on insurance deductibles and enhance your understanding of how they work. Learn about the importance of deductibles in insurance and how they affect your coverage.
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