What does the term "deductible" refer to?

The term "deductible" refers specifically to the total amount a patient must pay out-of-pocket for covered healthcare services before their health insurance begins to contribute towards the costs. This amount must be satisfied within a designated period, typically a calendar year, and applies to various healthcare services, including hospital stays and surgeries. Understanding the deductible is crucial for patients when budgeting for healthcare expenses, as it directly influences how much they will pay before receiving insurance benefits.

In this context, the other options describe different aspects of health insurance but do not accurately capture the definition of a deductible. For example, the maximum amount an insurance will pay for services pertains to policy limits, while the out-of-pocket expense refers to any costs incurred by the patient, including copayments or coinsurance. The percentage of cost that the insured is responsible for is related to coinsurance, which applies after the deductible has been met. Hence, option B correctly identifies the key concept of a deductible in health insurance terms.