Definition: The term "deductible" refers to a limit on how much money you are required to pay out of pocket before your health insurance company will cover something, like an emergency room visit or medical procedure. In the context of health insurance policies, deductible limits can vary by policy type and coverage level. Some plans require that you pay a certain amount (often known as "deductible") up front before beginning any treatment, while others may only apply to specific services such as hospital stays or procedures. The term "deductible" is typically used in the context of health insurance policies, but it can also have broader meanings in various contexts. For example, it might refer to a limit on how much you are required to pay out of pocket for certain types of expenses, such as groceries and utilities. In summary, the word "deductible" refers to a limit on how much money you are required to pay out of pocket before your health insurance company will cover something. It is typically used in the context of health insurance policies and can also have broader meanings in various contexts.
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