A co-payment, or co-pay, is the flat amount you pay at the time of a medical service or to receive a medication. Each health insurance plan establishes these fees up front -- they are often printed on your health insurance card. Insurance companies use these co-pays in part to share expenses with you.
http://health.howstuffworks.com/health-insurance/deductible-copay.htm
Let’s say you have a policy with 20% coinsurance. That means the insurance company will pay 80% of covered services after your deductible has been met and you pay the remaining 20%. But you won’t have to pay that 20% forever.
http://www.cigna.com/individuals-families/copays-deductibles-and-coinsurance-explained
However, you will probably still have to pay a small copayment or coinsurance amount. Deductible The amount you must pay for health care services or prescriptions each year, before your Medicare drug plan, your Medicare Health Plan, or your other insurance begins to pay.
https://www.medicare.gov/find-a-plan/staticpages/glossary/planfinder-glossary.aspx
Glossary. Term Definition Annual Deductible The amount you must pay for your health care or prescriptions before Original Medicare, your prescription drug plan, your Medicare Health Plan, or your other insurance begins to pay. These amounts can change every year.
https://www.medicare.gov/find-a-plan/staticpages/glossary/planfinder-glossary.aspx
Don't Confuse Co-Payment and Coinsurance Coinsurance and co-payments are not the same thing. A co-payment is a specific amount that you pay at the doctor's office before you meet your deductible. Coinsurance is a percentage of a provider's charge that you may be required to pay after you've met the deductible.
http://health.howstuffworks.com/health-insurance/deductible-copay.htm
An MSA is a plan that combines a high-deductible health plan with a bank account. Medicare deposits money into the account (usually less than the deductible).You can use the money to pay for your health care services during the year.
https://www.medicare.gov/find-a-plan/staticpages/glossary/planfinder-glossary.aspx
Deductibles. This is the portion of your medical expenses that is not covered by a copay and you are responsible for 100%, until you reach your deductible. It's like car insurance. Should you need to, you pay your deductible and then insurance kicks in to help pay. The basics about annual health deductibles: 1  Expenses related to hospitalization, surgery and procedures are typically applied to your deductible first.
http://www.cigna.com/individuals-families/copays-deductibles-and-coinsurance-explained
So let's start with a few basic terms: a co-payment and a deductible. Once we decipher what they mean, we will attempt to explain how they are used in different types of health insurance plans. Perhaps a little bit of knowledge will save you some health care cash.
http://health.howstuffworks.com/health-insurance/deductible-copay.htm
Report Abuse. You pay whatever the doctor charges until you have paid $350 in a year. The insurance pays nothing for the first $350 of charges in a year. That is what the $350 means. After you have paid $350 in a year, you do not need to pay whatever the doctor charges for the rest of the year.
https://answers.yahoo.com/question/index?qid=20120105061423AAZx5cV
Example: You have a $100,000 hospital bill, and a Cigna plan with a $2,750 annual deductible and 20% in-network coinsurance. You pay the $2,750 deductible plus 20% coinsurance until you reach your $6,350 annual out-of-pocket maximum. The out-of-pocket maximum is a wonderful thing. Every Cigna plan has this feature. Check your plan to see if copays, deductibles and pharmacy costs accumulate to the out-of-pocket maximum.
http://www.cigna.com/individuals-families/copays-deductibles-and-coinsurance-explained
what does annual deductible mean
An annual deductible means the amount you must pay for your health care or prescriptions before Original Medicare, your prescription drug plan, your Medicare Health Plan, or your other insurance begins to pay. Annual deductible means the amount you must pay for your health care or prescriptions before original Medicare, your prescription drug plan, your Medicare Health Plan, or your other insurance begins to pay.