Deductible | Strategic Benefits Advisors

A fixed dollar amount that an insured person pays out of pocket each year before the plan will begin reimbursing for covered medical expenses. Plans may have both individual and family deductibles. Some plans have separate deductibles for specific services.

Glossary: Catastrophic Health Plan
Glossary: Coinsurance
Glossary: HDHP
Pandemic sharpens focus on employee financial wellness
COVID-19 has made financial wellness a hot topic in 2020 as employees seek to become more financially resilient. Here are some initial steps plan sponsors can take to gauge how well employees are using their existing benefits and determine whether additional financial wellness benefits are called for.