Your copay and coinsurance are both costs that you pay after you’ve met your deductible for your health insurance plan. A copay is a set fee, while a coinsurance is a set percentage of costs, that you pay for health services or supplies.
Your insurance plan should clearly state whether you pay a copay or coinsurance for a particular service. If you don’t see the service on your insurance brochure, call your insurance representative before a healthcare visit or service.
References
HealthCare.gov. (n.d.). Coinsurance.
HealthCare.gov. (n.d.). Copayment.
HealthCare.gov. (n.d.). Deductible.
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Written by:
Lauren Smith, MALauren Smith, MA, has worked in health journalism since 2017. Before joining GoodRx, she was the senior health editor and writer for HealthiNation.
Reviewed by:
Sanjai Sinha, MDSanjai Sinha, MD, is a board-certified physician with over 20 years of experience. He specializes in internal medicine.
