What is a co-payment or co-insurance?
A copayment is the dollar amount of a single medical bill you must pay to receive care. For example, to go to the doctor for a routine check-up, a copayment for the visit may be $30 for the visit. Your insurance will pick up the rest of the bill. Coinsurance is very similar, but it’s expressed as a percentage. For example, an 80/20 coinsurance rate means you pay 20% of the bill and insurance covers 80%.
