What does it mean if I have a $500 deductible health insurance?

What does it mean if I have a $500 deductible health insurance?

$500 Deductible: When you’re getting by, and have some money saved up. When you choose your insurance company’s $500 deductible option, your insurance company caps your out-of-pocket costs to repair, replace, or remedy at $500. Your insurance company pays for damages in full, minus your $500 deductible. Dec 17, 2020

See also  How does medical insurance affect an individual's demand for medical care?