Amanda White
CFP, 5-Year Full-Time Freelancer
Deductible
In This Article
Definition
Amount you pay out-of-pocket before insurance coverage begins. Higher deductibles mean lower premiums but more cost when using insurance.
Related Terms
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FAQs
What deductible should gig workers choose?
HDHP plans ($1,500+ deductible) enable HSA contributions but require emergency fund.
Similar Terms
Gig Insurance
Insurance coverage for gig work activities, filling gaps in personal auto or liability policies.
Rideshare Insurance
Auto insurance endorsement or policy covering rideshare driving, filling gap between personal and platform insurance.
Liability Insurance
Insurance covering damages or injuries to others, important for service-based gig work.
Out-of-Pocket Maximum
Most you'll pay for covered health services in a year. After reaching this limit, insurance covers 100%.
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Important Disclaimer: This content is for informational purposes only and should not be considered tax, legal, or financial advice. Consult a qualified professional (CPA, tax attorney, or financial advisor) for advice specific to your situation.