✓ Accepted Answer
A deductible is what you pay before insurance kicks in — if your deductible is $2,000 you pay the first $2,000 of medical costs per year. A copay is a fixed amount per visit — $25 for primary care, $50 for specialist — paid at the time of service. Coinsurance is a percentage you pay after meeting your deductible — if your coinsurance is 20% and you have a $10,000 hospital bill you pay $2,000 and insurance pays $8,000. Your out-of-pocket maximum is the most you will ever pay in a year — after that insurance covers 100%.
by bob_builds
· 20 upvotes