How do Deductibles and Coinsurance work? What is the difference?
All health insurance requires consumers to pay some of the cost of covered health care services. In a traditional copay plan, you pay a fixed amount per service. You may have a copayment for emergency room services; check your plan for details emergency services for non-emergency problems. In a coinsurance model, you pay a fixed percentage of each service. With a deductible, you pay the entire amount allowed for all services provided until the deductible is met. The deductible starts over every plan year.Read More