How do you explain what a deductible is using examples?

What is a good sentence for deduction?

Examples of deduction in a Sentence

The government is offering new tax deductions for small businesses. What is your pay after the deductions have been taken out? His guess was based on intuition rather than deduction. Our deduction was based on the information given to us at the time.

What is a sample sentence with for example?

No problem with making sure you tell the medical team if you're allergic to something, for example. There is, for example, the simple question of whether we can be certain that the war really has ended. A driving test, for example, is something we expect all competent adults to be able to pass.

Which of the following best describes a deductible?

A deductible is one type of “cost-sharing” feature often included in a health insurance policy. It reflects an initial amount of covered health care expenses that you must pay out of pocket. Your health plan will then begin to reimburse covered health care expenses beyond that deductible amount.

What is the most common deductible?

$500 is the most common car insurance deductible. Not every type of car insurance coverage uses a deductible. A higher car deductible can lower your insurance premium.

What is another way to describe the deductible?

initial cost. out-of-pocket expense. pre-determined amount. upfront payment.

What are five examples of deductible expenses?

What is the deductible in insurance with an example?

For example, if you have a health insurance policy with a $1,000 deductible and you receive a medical bill for $2,000, you would be responsible for paying the first $1,000 and your insurance would cover the remaining $1,000.

Do you have to pay your deductible if you're not at fault?

It depends on your insurance policy. Some insurance policies require you to pay your deductible even if you are not at fault, while others do not. Reviewing your policy or speaking with your insurance agent to understand your coverage is important.

What is a copay and deductible for dummies?

A deductible is the set amount of money you pay out of pocket for covered services per plan year before your insurance starts to share costs. A copay is also a set amount of money, but it's a fixed fee attached to certain covered services.

What does deductible mean in simple practice?

A deductible is the amount the client pays out of pocket for eligible medical services before their insurance plan starts to pay toward their medical costs. If a client hasn't met their deductible, you'll still need to submit claims to the payer so they can apply the cost of services toward the client's deductible.

Which answer best defines deductible?

Based on the discussion, the best and correct answer is option B. Deductible is the amount a customer pays before he can avail the benefits of an insurance policy.

What is a high deductible example?

Per IRS guidelines in 2025, an HDHP is a health insurance plan with a deductible of at least $1,650 if you have an individual plan or a deductible of at least $3,300 if you have a family plan. The deductible is the amount you'll pay out of pocket for medical expenses before your insurance pays anything.

How do deductibles work?

A deductible is the amount you pay for coverage services before your health plan kicks in. After you meet your deductible, you pay a percentage of health care expenses known as coinsurance. It's like when friends in a carpool cover a portion of the gas, and you, the driver, also pay a portion.

Is it better to have a $500 deductible or $1000?

Remember that filing small claims may affect how much you have to pay for insurance later. Switching from a $500 deductible to a $1,000 deductible can save as much as 20 percent on the cost of your insurance premium payments.

Does tax deductible mean you get the money back?

A tax deductible is an expense that an individual taxpayer or a business can subtract from adjusted gross income (AGI). The deductible expense reduces taxable income and therefore reduces the amount of income taxes owed.

Is it illegal to collect deductibles upfront?

But in general, network contracts between insurers and medical providers will prohibit the medical providers from requiring payment of deductibles before medical services are provided. They can certainly ask for it, and patients have the option to pay some or all of their deductible upfront.

What is the basic deductible?

Deductibles: How much you'll spend for certain covered health services and prescription drugs before your plan pays anything, except free preventive services. (For example, your plan may charge for an office visit, but you won't pay extra for the preventive service that's part of that visit.)

What are sentences 5 examples?

How can I use for example?

How do I list an example?

e.g. is an abbreviation used to introduce examples in a sentence. Lowercase letters should be used when including e.g. in a sentence with a period after each letter and a comma following the abbreviation.