What is the difference between coinsurance and copayments?
Coinsurance is your share of certain medical bills after you’ve paid the deductible. Coinsurance is a percentage of the bill. A copayment, or copay, is a specific amount (not a percentage) that you pay each time you get a healthcare service. For example, you may have to pay a $20 copayment when you go to the doctor for a checkup. Many plans have copayments for some services, like doctor’s visits and prescription drugs, and coinsurance for other services, like surgery and hospital care.
