Co-payment vs. Co-insurance

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.

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