Given today\u2019s tough economy and the upward spiral of health care costs, businesses are particularly concerned about expenses, and that concern often includes group health insurance plans.<\/p>\n
To help control the cost of providing group health insurance, some employers want to increase employees\u2019 out-of-pocket costs through higher deductibles or co-payments.<\/p>\n
Deductibles or co-payments are two of the most basic elements of health-insurance plans.<\/p>\n
What are deductibles and co-payments, and how do they work?<\/em><\/p>\n Both deductibles and co-payments have fixed costs in a particular plan. A deductible represents the amount of money that the individual has to pay before many of the policy\u2019s benefits kick in. Typically, these deductibles are calculated on a yearly basis.<\/p>\n For example, if a plan has a $500 deductible, then the individual has to pay out-of-pocket for medical expenses until they reach the $500 threshold. After that, the policy-provider then begins to pay its portion and the individual is then only responsible (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Given today\u2019s tough economy and the upward spiral of health care costs, businesses are particularly concerned about expenses, and that concern often includes group health insurance plans. To help control the cost of providing group health insurance, some employers want…<\/span><\/p>\n