Which term describes the amount an insured individual must pay out-of-pocket before an insurer will cover the rest?

The term that describes the amount an insured individual must pay out-of-pocket before an insurer begins to cover the remaining costs is known as a deductible. A deductible is a predetermined amount established in an insurance policy that the insured must pay before the insurer is obligated to offer coverage for any claims made. This financial responsibility encourages policyholders to be more cautious with their claims and can also help to reduce insurance costs, since lower premiums are often associated with higher deductibles.

Co-payments, on the other hand, are fixed amounts that a policyholder pays for specific services or prescriptions at the time of service, rather than being a threshold before coverage begins. Premiums are the regular payments made to keep an insurance policy active, not the out-of-pocket expense before coverage kicks in. Exclusions refer to specific conditions or circumstances that are not covered by the insurance policy, rather than a payment amount required from the insured before claims can be made. Thus, deductible is the correct term for what is being described in the question.