What's the difference between calendar year and plan year?
The deductible limit is the maximum amount in a given year that a plan participant may have to pay in deductibles before the plan coverage is required to satisfy the full amount of claims.
- A calendar year deductible, which is what most health plans operate on, begins on January 1st and ends on December 31st. Calendar-year deductibles reset every January 1st.
- A plan year deductible resets on the renewal date of your company's plan. For example, if your health plan renews on May 1st, then your deductible would run from May 1st to April 30th of the following year, and reset on May 1st.
Your carrier may specify this in your contract - try searching for annual deductible, deductible, or calendar year. If you are having trouble locating this information, please contact your HR contact, broker, or carrier.
If you have more than one renewal date, please pick the earliest of dates. For example, if you have a calendar year deductible, and a plan year deductible of June 1st, select the calendar year (January 1).
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