Co-payment and co-insurance difference

As we head into 2018, yearly deductibles will be reset. It is important to understand the terms co-payment and co-insurance.

Co-payment is the fixed amount that a person pays each visit, typically after the deductible has been met.

Coinsurance, like a copayment, is a form of cost sharing for health services or prescription drugs between insurance companies and the insured. Unlike copays, which are flat fees, coinsurance is a percentage of the cost for a health service or prescription drug paid by a member after they have reached their deductible.