30 Second Insurance Tips©

Tip 81- All Deductibles Are Not Created Equal

Your health plan deductible is the amount you pay each calendar year before your insurance kicks in.

If you have two or more people covered on one “traditional” policy, there are separate deductibles (usually two but sometimes even three per family).

But HSAs are different. If your policy covers two or more, the family must pay two times the policy deductible before the insurance kicks in. For instance, a $3,000 HSA Plan has a $6,000 family deductible.

Except, some HSAs are sold with an “embedded” deductible option. For those, there are separate deductibles, just like under a “traditional” plan.

Confused? Now you know why I have a job!