Difference between Copay, Co-Insurance, Deductible?
Copay– A predetermined rate the patient pays for health care services at the time of care. Copay are due at the time the patient receives a health care service.
Deductible – The deductible is the amount the patient must pay for health care services before the health insurance plan begins paying.
Coinsurance – Coinsurance refers to the share of the costs of a health care visit. Coinsurance is a percentage of a medical charge that the patient pays, with the rest paid by the health insurance plan.