Deductible

What it means

The amount of money a patient pays for health care before insurance kicks in. With a deductible of, say, several hundred dollars, the patient pays the first stretch of medical bills out of pocket. After that, insurance covers its share (minus any co-pay). Deductibles reset every year. Medicaid in New York generally has no deductible — services are covered from day one. Marketplace plans (NY State of Health) have deductibles that vary by plan level: bronze plans have higher deductibles and lower premiums; silver and gold have lower deductibles and higher premiums.

When you might hear this

You hear this with health insurance. It is the amount you pay out of pocket before insurance starts covering costs. Medicaid in New York generally has no deductible.

What to ask