New Year Palms

Happy New Year from TAG PT! We hope that 2015 brings all of our patients a happy and healthy year. With a new calendar year upon us, we find ourselves in a new benefit year for most insurance plans. With many benefits restarting, we thought it would be helpful to discuss some of the most common terms you’ll come across. It seems that even those patients who educate themselves with their personal healthcare plans still have unanswered questions. Read on to familiarize yourself with some of the technical language.

What is my deductible? Your deductible is the amount you’re required to pay for medical expenses before your insurance begins to pay each year. Typically you will be paying out of pocket for medical services until your deductible has been satisfied. For example, if your deductible is $1,000, your insurance will not pay anything to healthcare providers until you have paid your $1,000 deductible for covered services. The deductible may not apply to all services, so be sure you know what services are excluded from your deductible. For example, physical therapy visits may be exempt from your deductible with just a flat copay required. If someone has “met their deductible,” it means that they have paid their portion of their healthcare costs and now their insurance is responsible for its portion. Plan deductibles can range anywhere from $250 to $5,000.

Still unsure what your specific plan benefits might mean for you? Call us and we’ll help you to understand what your out-of-pocket expenses will be.