A deductible is the cost people must pay before their health insurance plan pays for any of their care. When Bill broke his arm, the cost of health care was $1000. He had full health insurance, but it still cost him $100, because he had to pay the deductible before his insurance kicked in.
- Driver Alert: Car Insurance Will Cost YouGasoline is one huge expense of car ownership – and the other is insurance, which all drivers legally need before they can get behind the wheel. Accident-prone teens are especially vulnerable to high insurance premiums. You can take some steps to keep your costs low and your chances for reduced future payments high. How’s that report card?