A deductible is a flat dollar amount that you must pay each year before your medical plan begins sharing the cost of care and services with you.
Your deductible will vary based on the plan you choose and the number of people you cover. Services that apply to your deductible generally include office visits, lab services, X-rays, and hospital stays. Services that require a copay generally do not apply to your deductible.
The plans with a deductible are NVIDIA HSA, NVIDIA HSA Plus, and NVIDIA PPO.
Keep in mind that, regardless of your deductible, you benefit from the reduced rates that your health plan negotiates with providers, and preventive care is always 100% covered.
Tom, 43, is enrolled in the NVIDIA PPO plan and also covers his wife. His in-network deductible is $1,000 total. Let’s assume Tom always gets in-network care because he’s a savvy health care shopper.
- His first medical expense of the year is for a one-night stay in the hospital
- His spouse also has some inpatient hospital expenses. He pays $1,000 and meets the maximum family deductible. Once he meets the deductible, Tom pays 10% of any subsequent non-preventive care charges up to a cap of $6,000, which is the NVIDIA PPO plan’s out-of-pocket maximum
Karen, 31, is enrolled in the NVIDIA HSA Plus and covers only herself. Her deductible is $1,350 and her out-of-pocket maximum is $2,500.
- Her first medical visit of the year is a preventive care exam. She pays nothing because preventive care is 100% covered
- She still has $1,350 left in medical expenses until she meets her deductible
- Then, she has an unplanned surgery and gets a hospital bill for $10,000. The maximum she would pay is the $1,350 left on her deductible, and then any remaining expenses at her co-insurance rate until she reaches the out-of-pocket maximum of $2,500