Open Question: What is an Annual Insurance Deductible?

I'm looking at health care plans. One says, "Annual Deductible of $7,500. You pay $53.16 a month." I read the definition of an insurance deductible and it said, "Your deductible is a predetermined fee that you’ll be required to pay before your health insurance carrier will be responsible for paying your benefits." Does this mean I have to pay $7,500 before the health insurance kicks in? Or am I just misunderstanding all of this?