What is the deductible and how does it work?

The deductible refers to the amount one must pay out of pocket for covered medical services before the insurance plan starts sharing the costs. At Mondrus American Health Insurance, the deductible amount varies based on the plan chosen by the policyholder. Once the deductible is met, the insurance coverage becomes active, and the insurer starts paying a portion of the medical expenses as per the plan's terms and conditions. For example, if the deductible is $1,000, the policyholder is responsible for paying the first $1,000 of eligible medical expenses. After reaching this amount, the insurance company will start covering a portion, typically a percentage or a fixed amount, of the costs. The deductible resets annually, allowing policyholders to track their medical expenses throughout the year.