Title: What's the difference between a deductible, a copayment, and coinsurance?

What's the difference between a deductible, a copayment, and coinsurance?
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All three are medical charges you must pay out of your own pocket, even if you have insurance.

A deductible is a fixed dollar amount that the covered employee must pay out of pocket each calendar year before the plan will begin reimbursing for non-preventative health expenses. Plans usually require separate limits per person and per family.

A copayment is the fixed dollar amount that the covered employee pays for medical services. The $25 for a primary care doctor visit is an example of a copay.

A coinsurance is a percentage of a health care cost that the covered employee pays after meeting their deductible. For example, employees in the traditional plan must pay 30 percent in coinsurance (30 percent of the cost of the procedure) after meeting the $1,000 deductible.

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