Ensuring a Bright Future!

 A health insurance deductible is a specified amount or capped limit you must pay first before your insurance will begin paying your medical costs.  For example, if you have a $2,000 deductible, you must pay that first, before the plan starts to pay.  However, Sometimes, it only applies to certain items, such as MRI/CT scans.  You may not have a deductible to see your primary care physician, nor any other services except for the MRI/CT scan. They may say, for example, MRI/CT scan $0 after the deductible. Meaning that after you pay, the usually once a year deductible, your next MRI/CT scan will be $0.  

A copayment is the portion of a medical insurance claim that you’re responsible for paying. In most cases, a doctor’s office will request the copayment at the time of your appointment. 

A coinsurance is the percentage of the costs of covered healthcare services you pay out-of-pocket (20%, for example) after you've met your deductible. 

Example: 80/20 Split: A typical coinsurance breakdown is the 80/20 split. After meeting your deductible, you’re billed for 20% of medical costs, while the insurer covers the remaining 80%.