Deductible

Your plan’s deductible is the specified amount of money you must pay for covered health services before an insurance company will start to pay anything.

Copay

You make these payments each time you get a medical service after reaching your deductible. Your copayment, or copay, is a fixed amount you pay each time you receive a covered health care service.

Coinsurance

The amount your insurance pays once you have met your deductible.

After your Deductible is Met

Once the total amount you pay for covered services adds up to your deductible amount in a year, your insurer starts paying a more significant chunk of your medical bills, which is your coinsurance.