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Home > Members > How Your Plan Works > What Is the Difference Between Deductibles, Copays, and Coinsurance?

What Is the Difference Between Deductibles, Copays, and Coinsurance?

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When you use your plan for a service or item, you are usually responsible for paying a portion of the cost. This is called cost sharing.


What Is a Deductible?
 

What Is the Difference Between a Copay and Coinsurance?

There are many different types of cost sharing, but the most common are deductibles, copays, and coinsurance.

  • A deductible is the amount you pay for a service before the plan shares the cost of the service with you.
  • A copay is a set amount you pay for the service.
  • Coinsurance is when you pay a percentage of the cost for an item or service.

Check out these helpful videos for details on the differences between these types of cost sharing!