The deductible, copayment, and coinsurance are key terms in health insurance policies.
Deductible is the amount that the insured must pay out-of-pocket before the health insurer pays its share. For example, a policyholder might have to pay a [tex]$500 deductible per year. Copayment is a flat fee that an insurance policy-holder must pay before receiving services, like a $[/tex]45 copayment for a doctor's visit. Coinsurance requires the policyholder to pay a certain percentage of costs.
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