What is a "deductible" in health insurance?

A deductible in health insurance refers to the specific amount that an insured individual must pay out-of-pocket for healthcare services before their insurance provider starts to make payments on claims. This means that if an insured incurs medical expenses, they will need to pay the full cost of those services up to the deductible amount. Only after this threshold is reached does the insurer begin to cover a portion of the medical costs, according to the terms of the policy.

In this context, it's important to understand the other terms listed in the choices. The maximum out-of-pocket cost represents the limit on how much an insured would have to pay during a policy period, which includes deductibles, copayments, and coinsurance, but it does not specifically define what a deductible is. A fixed amount paid for each doctor's visit refers to a copayment, which is a set fee that must be paid at the time of service but does not relate to the broader concept of the deductible. Finally, the percentage of a claim that the insured is responsible for is known as coinsurance, which occurs after the deductible has already been met. Each of these options describes different aspects of health insurance costs, but only the first accurately defines what a deductible is.