What is the term for the amount a patient pays before their insurance covers the rest?

The term that describes the amount a patient must pay out-of-pocket before their insurance begins to cover the remaining costs is known as a deductible. This is a specific sum that the patient agrees to pay for their healthcare services before the insurance pays its portion.

For instance, if a patient has a deductible of $1,000, they need to accumulate that amount in eligible medical expenses before their insurance plan will start to pay for the costs. Deductibles can vary widely among different insurance plans and can influence how much patients ultimately pay for their care.

In contrast, a copayment refers to a fixed amount that a patient pays for specific services or medications at the time of care, while coinsurance is a percentage of the costs of a service that a patient pays after meeting their deductible. A premium is the regular payment made to maintain the insurance policy itself, regardless of whether or not the patient has received healthcare services. Each of these terms contributes to the overall understanding of healthcare costs and insurance coverage, but the deductible is specifically the upfront cost that must be paid before coverage kicks in.