How health insurance plans work
A premium is the monthly fee you pay to maintain your health insurance coverage, regardless of whether you use medical services.
The deductible is the amount you pay for covered health care services before your insurance plan starts to pay.
This is the most you'll have to pay for covered services in a plan year. After you reach this amount, your insurance pays 100% of covered services.
A copay is a fixed amount you pay for a service. Coinsurance is a percentage of the cost you pay after meeting your deductible.