Understand Out of Pocket Expenses

Knowing the difference between premiums and out-of-pocket costs will help you get the most from your health care plan.

Deductible: If you need medical care, a deductible is the amount you pay for care before the health insurance company starts to pay its share.

Coinsurance: Coinsurance is a bit like a copayment, except you pay for a certain percent of the cost of your care. For example, you may pay 10% of the cost of a $50 medical bill. So you would pay $5 and the health insurance company would pay the rest.

Copayment: A set amount you might have to pay when you get healthcare.