what is the difference between a deductible and an out of pocket expense 
a health insurance plan s deductible and its out of pocket limit both represent points at which the insurance company pays for all or some of your subsequent health costs however they are two different things the deductible is the amount of money you have to pay on your own every year for your covered medical expenses before your insurance company starts picking up the bills the out of pocket limit is the maximum amount of your own money you will have to pay for all of your insured healthcare during the year the out of pocket limit is your total expenditure in the year including your deductible payments your coinsurance and your copayments if your plan has them up to a total dollar amount the out of pocket limit is set by federal law for the 2022 tax year your costs may not exceed 7 050 for an individual or 14 100 for a family 6 for 2023 the figures rise to 7 500 for an individual and 15 000 for a family 7