Insurance Deductible Starting Over In January

It is that time of the year again!

I’m not talking about Thanksgiving or Christmas, but the time when everyone’s insurance deductible is about to start over in January. If you have used your medical insurance this year, you may have either hit your deductible or may be getting close to hitting your deductible. If you have, then the majority of your medical expenses until the end of the year might be the responsibility of your insurance company.

What Is A Deductible?

First, let’s discuss insurance. Medical insurance policies often have what is called a deductible. A deductible is an amount you have to pay for any medical care, prescriptions, etc., before your insurance kicks in. In the case of a $1,000 deductible, you are responsible for paying the first $1,000 in medical care before your insurance will start to cover some of the expenses. 

Some policies have very high deductibles, which means a financial responsibility of $3,000-$10,000 out of pocket before insurance pays a dime. Quite the racket, right?

However, once you hit your deductible, your out-of-pocket financial responsibility often significantly decreases and, in some cases, may completely go away. Now is the time for you to take advantage of the coverage you have.

With increasing premiums and deductibles, insurance companies regularly cover fewer expenses of their policyholders and pay healthcare providers less than ever before. Once you have met your deductible, try to squeeze in any necessary medical, chiropractic, or other care you need before the end of the year. The contract you enter into with an insurance company requires them to pay all, or a significant portion of, your expenses after hitting your deductible. The insurance companies don’t mind making you pay more for your policy and your care, so don’t feel bad about making them hold up their end of the bargain.

Deductibles for most plans start over January 1, so don’t hesitate to seek care if you have met your deductible. If you have not met your deductible and are not close, now is not a good time to start unless you have an emergency or pressing medical issue. Your policy will start over at the beginning of the year, and you will be required to pay your entire deductible again.

If you are curious about your insurance benefits and have any questions regarding your deductible, call our office at 316-685-4965. We would be happy to verify your benefits and see the status of your deductible.

If you have been putting off trying or continuing chiropractic care and have met your deductible, act before the end of the year. You might as well use the insurance benefits that you pay a premium for before you lose them.

We’d love to help!

Dr. Stanley