Insurance Education :: When choosing healthcare, you’ll know what you owe

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Released: July 10, 2010

When choosing healthcare, you’ll know what you owe

Source: Walecia Conrad, New York Times (Free Registration)

QUICK quiz: What’s the difference between co-pay and co-insurance?

If you’re like most people, you may think they are the same. But while it is true both terms refer to the portion of medical bills you pay out-of-pocket, these two types of cost-sharing are quite different.

A co-pay is a fixed amount that you pay each time you see a doctor or fill a prescription, usually around $10 or $20.

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