deductible

Definition of deductible in English English dictionary: That can be deducted; a clause in an insurance policy that deducts a defined amount from the sum paid out by the insurer; The dollar amount you must pay out-of-pocket for each claim before the insurance company begins paying; The amount of money, or value of certain services (such as one physician visit), a patient or family must pay before costs are covered by the health plan or insurance company, usually per year; a clause in an insurance policy that relieves the insurer of responsibility to pay the initial loss up to a stated amount (taxes) an amount that can be deducted (especially for the purposes of calculating income tax) acceptable as a deduction (especially as a tax deduction); An amount determined by the insurance company to be paid on an annual basis before benefits are paid; This is your out-of-pocket expense that you agree to pay for losses The insurer agrees to pay for the amount of loss over the amount of the deductible If you can afford to carry a higher deductible on collision and comprehensive coverage, you can substantially lower your costs; The amount of money you must pay each year to cover your medical expenses before your insurance policy begins to pay benefits; The amount an individual must pay for health care expenses before insurance (or a self-insured company) covers the costs Often, insurance plans are based on yearly deductible amounts; the amount of eligible expenses a covered person must pay each year from his/her own pocket before the plan will make payment for eligible benefits; nondeductible; Deducible; consequential; Under an insurance policy, the amount of loss or expense that you must shoulder yourself before the insurance company begins paying BACK TO TOP; An amount that a Member must pay for Covered Services in a specified time period in accordance with the Member's Plan before the Plan will pay benefits; The amount an individual must pay for health services each year before the individual's insurance company starts to pay For example, a $500 deductible means that an individual must pay for the first $500 worth of health care expenses before the insurance company begins to pay for services; {s} capable of being deducted, capable of being subtracted or taken off; acceptable as a deduction (especially as a tax deduction); The amount of money you must pay each year to cover your medical care expenses before your insurance policy starts paying; the amount of loss paid by the policyholder before the insurance policy benefits become payable; The amount of the loss which the insured is responsible to pay before benefits from the insurance company are payable You may choose a higher deductible to lower your premium; The amount an insured person must pay out-of-pocket each year before the insurance plan begins to cover health care costs A policy with an individual deductible of $250 and a family deductible of $750 means that each individual person in the family must pay $250 of medical expenses before the policy begins paying benefits for that individual Once the out-of-pocket expenses of the family members reaches $750, then the insurance company will pay benefits for each family members; (taxes) an amount that can be deducted (especially for the purposes of calculating income tax); An out-of-pocket amount of money that the insured must pay before the insurance company assumes financial responsibility for the claimant's expenses; a clause in an insurance policy that relieves the insurer of responsibility to pay the initial loss up to a stated amount; An amount the covered person must pay before payments for covered services begin The deductible is usually a fixed amount or a percentage determined by the individual's contract, and is calculated based on the lower hospital/provider actual charges or payment benefit For example, an insurance plan might require the insured to pay the first $250 of covered expense during a calendar year; Capable of being deducted, taken away, or withdrawn; For some insurance coverages, you are asked to choose a deductible The deductible is the portion of losses that you agree to pay in the event of an accident Though choosing a higher deductible can substantially lower your insurance premium, if an accident occurs, you must pay the full, pre-established amount of the deductible in order to receive payment from your insurance provider Back to Top; deduct; A set amount that you must pay before an insurance company provides any benefit payments to you under an insurance policy; The initial health care expenses each year, which you must pay before any benefit, will be paid by the medical plans For example, the first $250 of expenses in Tier II of Triple Option, or the first $300 worth of expenses in the Stanford Employee PPO; Amount that must be paid by the insured before benefits will be paid by the insurer; The initial amount the patient must pay out of their pocket for covered services before benefits are payable by the insurance carrier in indemnity and PPO plans; A specified amount of money a consumer must pay before insurance benefits begin Usually expressed in terms of an annual amount; Deductible is the amount you pay for a covered loss before the insurance company begins picking up the bill For example, if you owned a policy with a $200 deductible and you suffered a covered loss totaling $1,000, you would pay the first $200 and the insurance company would pay the remaining $800 If the loss were only $200, you would pay the entire amount and the insurance company would pay nothing; - the amount you must pay out of your own pocket each year for medical expenses before the Plan will begin to cover your expenses; 1 n In insurance, the amount the customer must pay before the insurance kicks in 2 adj Used to describe business and other expenditures that you may subtract from your gross income in figuring your income tax liability; deductable
tax-deductible: That is exempt from payment of income tax
deductibility: {i} capability of being deducted, capability of being subtracted or taken off
deductibles: plural of deductible
deductibles: {i} deductions, things which may be subtracted or taken off
deductibles: Initial portion of annual medical expenses that plan participants may be required to pay before they become entitled to be reimbursed by the plan
deductibles: The amount you must pay for health care, before Medicare or some Medigap policies begin to pay Some Medicare deductibles can change every year (See Medigap Policy )
deductibles: The portion of the loss that the policyholder agrees to pay out of pocket, before the insurance company pays the amount they are obligated to cover For example, if the covered claim is $1000 and your deductible is $250, you pay $250 and your company will pay $750 Deductibles help to keep insurance rates reasonable Raising the amount of the deductible lowers the cost of insurance
deductibles: Amount insured pays before insurance company pays Usually the higher the deductible, the lower the premium will be
deductibles: Amounts required to be paid by the insured under a health insurance contract, before benefits become payable
tax deductible: are payments that may be deducted against federal and state taxable income, the interest portion of your mortgage payments, points and property taxes are tax deductible
tax deductible: a type of expense that can be used to reduce taxable income
tax deductible: Payments that you may deduct against your federal and state taxable income The interest portion of mortgage payments, loan points, and property taxes are tax deductible Consult your CPA for details
tax deductible: Deductible from income to calculate taxable income
tax deductible: describes business expenses, donations to charity, etc that can be subtracted from taxable income
tax deductible: An expense that creates a tax deduction, for example, charitable contributions and mortgage interest
tax deductible: an expense that can be offset against assessable income
tax-deductible: Incorporated businesses receive a tax deduction for expenses resulting from the “cost of doing business ” For individuals, tax deductions are available to compute adjusted gross income (AGI) and establish the taxable amount due Some deductions must be in excess of a threshold or floor to qualify as a deduction
tax-deductible: If an expense is tax-deductible, it can be paid out of the part of your income on which you do not pay tax, so that the amount of tax you pay is reduced. Keep track of tax-deductible expenses, such as the supplies and equipment you buy. tax-deductible costs can be taken off your total income before it is taxed
tax-deductible: The effect of creating a tax deduction, such as charitable contributions and mortgage interest