A deductible is a specified annual amount you must pay out of pocket, before your insurance company will pay a claim. This means that you will pay for the full negotiated rate until you meet your deductible; then you will only have a coinsurance or co payment. Some insurance plans do not apply the deductible to therapy, so you will only be responsible for a copay. The deductible resets every plan year. Not all plans have deductibles.