Deductible

A deductible is the amount you must pay yourself before your insurance begins to cover eligible costs. For example, if your deductible is $1,000, you pay the first $1,000 of covered services and the insurer pays after that. This term is commonly used in medical insurance.

If your insurance has a deductible, you pay the first part of the bill on your own. After you reach that amount, the insurance starts helping.