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Blue cross blue shield copay amounts11/15/2023 Coinsurance What is coinsurance?Ĭoinsurance is a portion of the medical cost you pay after your deductible has been met. Depending on how your plan works, what you pay in copays may count toward meeting your deductible. If your plan includes copays, you pay the copay flat fee at the time of service (at the pharmacy or doctor's office, for example). What is the difference between a deductible and a copay?ĭepending on your health plan, you may have a deductible and copays.Ī deductible is the amount you pay for most eligible medical services or medications before your health plan begins to share in the cost of covered services. A plan with a lower deductible and higher premium that pays for a greater percent of your medical costs may be better for you. Or you have an active family with children who play sports. On the other hand, let's say you know you have a medical condition that will need care. If you're mostly healthy and don't expect to need costly medical services during the year, a plan that has a higher deductible and lower premium may be a good choice for you. How do I decide what deductible amount to choose? Even if your plan includes out-of-network benefits, your deductible amount will typically be much lower if you use in-network doctors and hospitals. Deductibles for family coverage and individual coverage are different.
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