Deductibles is the amount you have to pay out-of-pocket for your services before your insurance starts paying them for you. For example, if you have a $5,000 deductible, then you have to pay $5,000 in total out-of-pocket before your insurance picks up the tab. From then on, you would only pay a co-payment and your insurance covers the rest.
But deductibles are usually so high that people end up paying most, if not all, of their healthcare out-of-pocket. Plus, they have to pay a monthly premium to keep their coverage and that premium is not cheap.
Premiums are simply the money you pay to your insurance company to keep your coverage. Most people pay their premiums on a monthly basis. The current debate right now is that premiums are too high --> people can't afford them --> no health insurance. The ACA lowered premiums so that everybody could have health insurance. The American Healthcare Act does lower premiums but not as much and does not help the poor as much as the ACA did.
I was first introduced to the rubix cube metaphor by my Healthcare in America professor. The healthcare industry is like a rubix cube. Each side is a different stakeholder. Right now, the rubix cube is all jumbled up because each stakeholder wants what is best for them. But if they each do what is best for them, then there will be negative consequences on others. What we want is a perfect rubix cube because that would mean that everybody is happy in the healthcare industry. But is it possible to satisfy everyone in the healthcare industry?
Whenever I'll be using the rubix cube in my posts, I'll just be using it to show the different stakeholders and how a certain legislation or action can affect them all differently.