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Deductible |
Also found in: Dictionary/thesaurus, Medical, Financial, Wikipedia | 0.06 sec. |
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That which may be taken away or subtracted. In taxation, an item that may be subtracted from gross income or adjusted gross income in determining taxable income (e.g., interest expenses, charitable contributions, certain taxes). The portion of an insured loss to be borne by the insured before he or she is entitled to recovery from the insurer. Automotive insurance policies frequently include a deductible, such as $250 or $500, which the insured must pay before receiving reimbursement under the policy. Usually, the insured motorist chooses among several levels of deductible, with the policy payment being somewhat lower when the insured chooses a higher deductible. Many types of insurance policies include a deductible amount. |
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? References in periodicals archive |
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For one thing, high deductibles make it more difficult for people to get needed care. Consumer-directed health savings accounts, whose lower premiums and higher deductibles appeal to employers and the young and healthy, are expected to grow rapidly over the next two years after a slow start. But many feel in order for them to catch on, companies will have to use some of those savings to offset employee deductibles. |
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deductibles
