A deductible is the amount you are required to pay for health care services before your insurance begins to pay. For example, if your insurance deductible is $3,000, you would need to pay for the first $3,000 of covered services before your insurance starts paying.
After you meet your deductible, you usually pay only a copay for for in-network health services. Your insurance company would then pay the rest.
Your deductible is dependent on your insurance plan, and it varies from plan to plan. Generally speaking, if you have a lower monthly premium, you will have a higher deductible that needs to be met, and plans with higher monthly premiums often times have a lower deductible.
Something to note is that for many plans will pay for certain services like a general checkup before you've met your deductible, but we recommend always checking your plan details so you're fully aware of any costs you're responsible for before receiving care.
If you are unsure what youe deductible is, your can call the number on your insurance card to chat with the company and learn more about the in's and out's with your particular insurance plan.
Money you pay for out-of-network care, such as therapy, almost always isn't counted towards meeting your yearly insurance deductible in a health plan that doesn't cover out-of-network care. There are exceptions to this rule, such as emergency care or instances where there is no in-network provider available to provide these services.
However, some insurance plans have a separate out-of-network deductible. Generally speaking, this deductible will be higher than your in-network deductible, but once it's met, your insurance will pay fully for your out-of-network care, including therapy if your provider is out-of-network. As always if you're unsure if your insurance plan has an out-of-network deductible, we recommend contacting them directly to confirm your coverage before receiving care.
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Ryan is former Head of Growth. At MyWellbeing, he helps providers get matched with clients through their unique matchmaking directory. Prior to MyWellbeing, he was the founder of Kontess, an edtech solution for universities, which was acquired in 2021. He has worked with small businesses and startups alike to help them increase revenue and reach more potential customers through the use of sales and marketing at his agency, Rex Marketing & CX.