A deductible is the amount of money you have to pay out-of-pocket for your covered healthcare services until your insurance company starts to pay.
Example: Arya has insomnia, so she decides to go to the doctor to get it checked out. She has a $500 deductible, which means that she must pay for all of her healthcare expenses until she spends $500. After paying $450 on the doctor's visit and $50 on a prescription, her $500 deductible is met, and her benefits start to kick in.
To find out what your deductible is, log onto your Gusto account and follow these steps:
- Click the Benefits tab.
- Click on the tile of the benefit you'd like to review.
- If you have a deductible, it will appear in the "What’s Covered" section.
- Your deductible will also appear on your Summary of Benefits and Coverage, which you can download by clicking on the "Download full details (PDF)" link.
Note: This article is relevant to companies who have benefits managed by Gusto. For companies who have benefits managed externally, please contact your broker of record for your plan details.