Deductibles Defined
Many insurance plans have a deductible. This is the amount you pay out of pocket before your insurance starts covering a larger portion of your medical costs. Think of it as a milestone that must be hit before your insurance benefits fully engage. For example, if your deductible is $2000, you will need to spend $2000 yourself before insurance covers more of your care. Your deductible, and whether or not services are covered, is determined by your insurance company, not Circle Medical.
Knowing Your Deductible Matters
Understanding your insurance plan’s deductible is very important to avoid being caught off-guard. Before you reach your annual deductible, healthcare costs, including appointments, can be higher. After your out-of-pocket spend meets or exceeds the amount of your deductible, your insurance will generally cover more, reducing your out-of-pocket costs.
Understanding Your Benefits
Contact your insurance provider directly. They should have sent you an Explanation of Benefits (EOB) that breaks down your recent appointment's cost and how it applies to your deductible.
When calling your insurance company, remember to:
Record Representative Information: Note the name of the representative you speak to for future reference.
Request a Call Reference Number: Ask for a unique identifier (call reference or case number) to track your conversation details.
Ask for your Explanation of Benefits (EOB): This will keep you informed on the breakdown of your deductibles.
Understanding your deductible and insurance benefits empowers you to make informed decisions about your healthcare expenses.