Definition: The amount of money the insured patient must pay out-of-pocket before the insurance company must begin paying benefits. For example, if there is a $500 deductible, the insured patient must pay for the first $500 of healthcare expenses before the insurance company will begin paying claims.
Deductible
From Kelly Montgomery, former About.com Guide
About.com Health's Disease and Condition content is reviewed by our Medical Review Board
Explore Health Insurance
Must Reads
About.com Special Features
8 Ways to Cut Drug Costs
Learn how to save money on medications with these recommendations. More >
Healthy Bodies, Healthy Minds
Keep yourself, and your family, happy and healthy this fall with these tips. More >
Also from About.com:
©2009 About.com, a part of The New York Times Company.
All rights reserved.