What is deductible?
deductible is The amount of loss or expense that must be incurred by an insured individual before an insurer will assume any liability for all or part of the remaining cost of covered services. Deductibles may be either fixed monetary amounts or the value of specified services (such as two days of hospital care or one medical practitioner visit). Deductibles are usually tied to some reference period over which they must be incurred.
source: A GLOSSARY OF TERMS FOR COMMUNITY HEALTH CARE AND SERVICES FOR OLDER PERSONS. World Health Organization, 2004.