adjective
Definition: Able to be subtracted or taken away, often referring to amounts that can be deducted from taxes or expenses.
Example: Many medical expenses are deductible on your tax return.
noun
Definition: An amount that must be paid by the insured before an insurance company will pay a claim, or an expense that can be subtracted from taxable income.
Example: The deductible on my health insurance plan is $500, meaning I have to pay that amount before my insurance starts covering costs.