Deductible

Business / Taxes / Deductible: A deductible is the dollar amount you must pay for healthcare, damage to your property, or any other insurable claim before your insurance company begins to cover the cost of the bill. For example, if you have a health insurance policy with an annual $300 deductible, you have to spend $300 of your own money before your insurer will pay whatever portion of the rest of the year’s bills it has agreed to cover. However, in some types of policies, the deductible is per event, not per year. Generally speaking, the higher the deductible you agree to pay, the lower your insurance premiums tend to be. However, the deductible for certain coverage is fixed by the insurance provider. That’s the case with Original Medicare.

High Deductible Health Plan (HDHP)

Business / Taxes / High Deductible Health Plan (HDHP): A high deductible health plan (HDHP) requires substantially higher than average out-of-pocket expenses before the insurance company will start paying for your medical expenses. However, the premiums f MORE

Tax-Deductible

Business / Finance / Tax-Deductible: Any transaction that is not tax-free to the parties involved, such as a taxable acquisition. MORE

Nondiscrimination Rule

Business / Taxes / Nondiscrimination Rule: All qualified retirement plans, including 401(k) plans, must follow nondiscrimination rules. Among other things, the rules prevent highly paid employees from receiving more generous benefits than othe MORE

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