But it’s worth noting that (at least here in the US), once you’ve paid the $1200, you often still have to pay 10 to 20% of costs (called a co-pay). A single serious incident (emergency hospitalization, for example) could easily still cost hundreds or even thousands.
We call that a “deductible”. Mine is $1200. So it’s more than yours, but it’s not quite the same as having to pay for everything out of pocket.
But it’s worth noting that (at least here in the US), once you’ve paid the $1200, you often still have to pay 10 to 20% of costs (called a co-pay). A single serious incident (emergency hospitalization, for example) could easily still cost hundreds or even thousands.