• heili@lemmy.world
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    1 year ago

    We call that a “deductible”. Mine is $1200. So it’s more than yours, but it’s not quite the same as having to pay for everything out of pocket.

    • owenfromcanada@lemmy.world
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      1 year ago

      But it’s worth noting that (at least here in the US), once you’ve paid the $1200, you often still have to pay 10 to 20% of costs (called a co-pay). A single serious incident (emergency hospitalization, for example) could easily still cost hundreds or even thousands.

      • heili@lemmy.world
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        1 year ago

        There is also an out of pocket maximum with regards to that “co pay” or “co insurance”. My annual out of pocket maximum for co-pay and co-insurance is $2500.