Retired Insurance agent here. The Cost is what people without Ins Pay, each carrier has a negotiated rate with every Doctor, Hospital etc. Your Cost could be 75K but negotiated rate is like for example $10K. From there it starts with your Hospital Deductible, the after deductible is met you have co-insurance which normally is a percentage like 20% . The Co-insurance is up to certain amount like $5,0000. So based on this you take the assigned deductible you have and deduct from the 10K. Then whatever is left over you Pay only 20% of that balance until it adds up to your out of pocket max of $5,000. Until you reach your out of pocket max, everything else is 100% coverage until next year when your deductible starts over. Now this is for this standard plan, there are many other plans out there like HSA, and some where you pay your full deductible which is normally high and everything else is 100%. And still many other plans out there. It’s always best to consult with your agent and get a better understanding how your plan works. You’d be surprise how many people I met thru my years in the Ins business and they had no clue how what they had worked. There are hundreds of plans out there and a good agent will consult with you and look into your health history and families health history to figure out what plan is best and if it would be wise to add a supplemental policy to help with out of pocket expenses.