Watch: 8 Health Insurance Terms You Should Know Deductible. Copay. Out-of-pocket limit. What do these health insurance terms actually mean? We explain common phrases from insurance policies so navigating your plan is less of a headache. Previous article: Low Wages, Empty Plates, Heavy Toll: Rethinking Suicide Prevention Prev Next article: As Ranks of Uninsured Grow, Minnesota’s Hospitals Are Among Least Charitable in Nation Next