Deductible: The amount you’re responsible for paying for covered medical expenses before your health insurance plan begins to pay for covered medical expenses each year. Deductibles generally range from $0-$3,000 and vary by plan and coverage type. Check with your insurance company for your plan’s deductible amount.
Coinsurance: Shared costs between you and the health insurance plan. For example, you pay 20 percent of costs and your plan pays 80 percent. These percentages may be different from plan to plan. Some plans may not have coinsurance.
Copayment: The payment you make, usually a fixed dollar amount such as $15, each time you visit the doctor or fill a prescription medication. Not all plans have copayments. These typically do not accumulate toward the deductible.
Out-of-pocket maximum: The most you will have to pay for covered medical expenses in a plan year through deductible and coinsurance before your insurance plan begins to pay 100 percent of covered medical expenses.