A deductible is a yearly total amount that an insured individual must pay before the insurance company shares the cost for covered services or medications. The amount you pay depends on the type of plan that you choose, but in-network services typically have lower deductibles than out-of-network services. When choosing a deductible amount, it is best to consider the chances of your needing to use the insurance plan.  If the plan is more likely to be used, a lower deductible and a higher premium might be best.  On the other hand, if the plan is not expected to be used, a higher deductible and lower premium might be best.