What does no charge after deductible mean?
:)5 years ago - 3 answers
It means your insurance coverage has a standard deductible payment, let's say $15 ....anything beyond that you don't pay yourself. So if your doctor visit was $100 you only pay $15 and the insurance co. picks up the other $85.5 years ago
A lot of people have health insurance that requires them to pay a set
amount like $300.00 per family member before there health insurance
pays any money at all. That amount I used could be any amount not
just the number I used.
Source(s)by Dan CHANGE & PROGRAM AUTO CUPUTE - 5 years ago
I've not heard the statement "no charge" after deductible. However, Deductibles work like the following:
Dollar Deductibles: Deductibles expresses in dollar amounts. For example: a $250 deductible means that if the cost repair is $750, the insurer deducts $250 from the 750 and pays $500.
Time Deductibles: expressed in time rather the dollars. The amount paid might not begin until a certain period like 15 days after the incidence--Like 15 dollars a day for car rental, but commencing on the 15th day, with a maximum payout of $500. For the first 15 days, the insured must pay or wait. Then the Company will pay.
Either way, however, there is no charge after the deductible.
Source(s)by silviejj - 5 years ago