A deductible is the portion of your health care that you pay before insurance starts to cover the expense. Usually, the higher the deductible, the lower the premiums. You can have more than one deductible on your policy ~ for example, one for a hospital stay and one for prescriptions.
The co-payment is a small fixed dollar amount that you pay ($10 or $15 dollars for example) at the time services are rendered. Typical co-pays are for office visits, prescriptions, or hospitalizations.
Policies have a total maximum out of pocket expense that you are responsible for each year, which both your deductibles and co-pays go towards.
