Copays, Deductibles and Coinsurance

Copays are the set amount you pay for a covered health care service.  For example, if a lab test costs $20 and the lab copay is usually $40, you’ll only pay $20. 

There are no copays associated with Bronze high-deductible health plans (HDHPs). Instead, you’ll pay the full cost of many services out of pocket, and once you pay a certain amount for the year (your deductible), your plan will cover all your costs. 

Deductible is the name for the amount of money you have to pay in one year before your plan starts to pick up the costs. 

Coinsurance is your share of costs for a covered health care service. It’s calculated as a percentage.