- For Patients
- by Parasail Health
Understanding Your Out-Of-Pocket Maximum
If you’ve ever found yourself wondering, “what’s an out of pocket maximum?” You’re not alone. Parasail Health can help you understand the difference between your deductible vs out of pocket maximum, so you can be more well-versed in terms of your insurance and what you’re responsible for paying for.
Your deductible is the amount of money you will pay in medical expenses for the year. Once you hit your deductible, your plan will indicate whether you pay nothing moving forward or if you’ll share the remaining costs with your insurance company up to a certain point. That certain point, is called your out-of-pocket maximum.
The way you can think about this, is that everyone with insurance has a deductible, but not everyone will have an out-of-pocket maximum. Kind of like how all Bourbon is whiskey, but not all whiskey is bourbon.