Questions about example sentences with, and the definition and usage of "Deductible"

  • The meaning of "Deductible" in various phrases and sentences

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    2. With insurance, "deductible" means the amount that you have to pay yourself (usually per year) before your insurance starts paying. For example, if you have a deductible of $500, and the expense that's supposed to be covered by insurance comes to $1000, you will pay $500 and insurance will pay the other $500. Once you pay out your deductible for the year, insurance will start paying for all your charges. At the start of the next coverage period, the deductible resets back to the full amount. In this case, the dental insurance has a deductible of $500. So whatever dental procedure the speaker wants to get, until he pays out $500 out of his pocket, the insurance will not pay a cent.

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  • Other questions about "Deductible"

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    2. Under US tax law, someone who donates to a qualified charity or non-profit organization can subtract the amount they donated from the amount of tax that they owe to the federal government. You also used to be able to subtract the amount of state tax that you paid, but the 2018 tax bill changes that. Now you can only subtract a small amount of state tax. The government of California is thinking about helping its residents by re-classifying its state taxes as a kind of donation to charity, so that its residents could continue to deduct all their state taxes.

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    2. If your rental car gets in a car accident or has any damage, It’s necessary for you to pay a deductible.

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