#Deductible vs copay series#

For preventive care, such as a mammogram or a yearly physical, you may not have a copay at all. Typically, the higher the monthly premium, or amount you pay for your plan, the lower the copay. It’s usually a manageable amount and may even be spelled out on the back of your insurance card, such as $20 for a doctor’s visit or $10 for a prescription refill.

What is a copay?Ĭopays and deductibles are both types of cost-sharing-you’ll pay for a portion of your total healthcare costs, and your insurance company will typically cover the gap between what’s been billed and what you’ve paid.Ī copay is your portion of the fee for a specific instance of care, whether it’s a doctor’s visit or a prescription. Don’t know the difference between a copay vs deductible just yet? We’ve got you covered. A copay and a deductible help determine how much you’ll pay out of pocket these costs can have a major impact on how financially feasible a particular plan is for your budget. We break down terms so you can understand-and with understanding, comes better savings.Ĭhoosing a healthcare plan? In addition to the monthly cost, or premium, it’s critical to understand what else you’ll be responsible for financially.

#Deductible vs copay series#

With words like copay, deductible, and out-of-pocket maximum being thrown around, how are you supposed to know what’s what? That’s where our Healthcare Defined series comes in. Sometimes healthcare terms can seem like a whole different language.