health insurance deductible

A deductible is the amount you must pay towards medical expenses during a given time period, usually a year, before your health insurance benefits begin to cover the costs. At the beginning of each plan year, your deductible will reset. The amount of the deductible varies by plan and some plans may not have one. Example: If your plan has a $1,000 deductible it means you’ll pay your own medical bills up to $1,000 before insurance starts to pay, every year.