What does a deductible refer to in an insurance plan?

A deductible refers to the amount that an insured individual must pay out-of-pocket for healthcare services before their insurance coverage kicks in to pay for additional expenses. This means that if a medical bill exceeds the deductible amount, the insurance will start to cover the costs based on the terms of the policy. Understanding the concept of a deductible is essential for individuals to effectively manage their healthcare costs and take full advantage of their insurance benefits.

The other options describe different components of insurance terms but do not accurately define what a deductible is. For instance, the total amount an insurance will cover in a year relates to the policy's coverage limit, while the percentage of costs covered by insurance pertains to co-insurance. A flat fee for emergency consultations refers to a co-payment, which is also distinct from a deductible.