A higher deductible can mean lower premiums, but it is important to remember that you will be responsible for more out of pocket costs when making a claim. The choice of a deductible is a personal decision that should be made based on one’s individual risk, budget and healthcare needs. Health care insurance deductibles reset at the start of every plan year (usually Jan. 1). You will be responsible for the full cost of most services until you meet your deductible, then your plan will begin to cover costs.