Department of Labor and Regulation

Title - Division of Insurance email the Division of Insurance


An insurance deductible is generally defined as the amount amount you have to pay out-of-pocket for expenses before the insurance company will cover the remaining costs.

There are a many different types of deductibles depending on your insurance policy. If you have an insurance policy that has a per sickness deductible you will not need to meet that deductible in the following year due to an ongoing sickness. The deductible will carry over to the next year with that sickness.

Most insurance policies have an annual deductible. In that case you would have to meet your deductible again. However, not all policies begin on January 1st and end on December 31st. Under some circumstances there is a "plan year". Plan years may begin and end on the anniversary date that you purchased your policy or your employer purchased their policy, or in other cases, the year may be in the employer's fiscal year or business year.

Division of Insurance
124 S. Euclid Ave., 2nd Floor
Pierre, SD 57501
Tel. 605.773.3563
Fax. 605.773.5369