In plain English
A deductible is the amount a person must pay themselves before that part of the plan’s cost requirement is fully satisfied. When it is met, the full required amount has already been paid toward covered costs. This status applies within the relevant coverage period.
In context
In the claims panel, "deductible met" reports that the insured person has already paid the plan’s full required deductible amount toward covered costs for the relevant coverage period.
- Situation
- Reading premium, deductible, excess, copay, limit, and out-of-pocket fields
- What it communicates
- reports deductible status in the claims panel
Meaning limits
This status alone does not say anything about amounts outside covered costs or outside the relevant coverage period.
Examples
“His deductible was met for the plan year after several covered outpatient bills, but the parking charges did not count toward it.”
“After the latest covered claim was processed, the claims panel marked her deductible met.”