What’s the difference between a co-payment & Deductible?
A copay is a fixed amount paid by a patient for receiving a particular health care service, with the remaining balance covered by the person's insurance company. A deductible is an amount you pay for covered health care services before your insurance plan starts to pay. With a $5,000 deductible, for example, you pay the first $5,000 of covered services yourself. After you pay your deductible, you usually pay only a copayment or coinsurance for covered services.