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English definition of “deductible”

deductible

adjective uk   /dɪˈdʌk.tɪ.bl̩/ us    /-t̬ə-/
a deductible amount can be taken away from a total: Expenses like office phone bills are tax-deductible (= you do not have to pay tax on them).Taxation

deductible

noun [C usually plural] uk   /dɪˈdʌk.tɪ.bl̩/ us    /-t̬ə-/
an amount of money that is taken away from an employee's pay before they receive it: Companies try to control the cost of healthcare by raising employees' deductibles. US (UK excess) a part of the cost of an accident, injury, etc. that you agree to pay yourself when you buy insurance: Customers can lower insurance premiums by taking higher deductibles.Insurance
(Definition of deductible from the Cambridge Advanced Learners Dictionary & Thesaurus © Cambridge University Press)
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