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What is the difference between co-payment and co-insurance?

April 26, 2017Co-Insurance co-payment difference

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What is the difference between co-payment and co-insurance?

1 Answer

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10 Posted

A co-payment is a flat dollar amount the participant must pay for medical services or prescription drugs at the time they are provided. Co-insurance is the participant’s share of covered services and supplies, not counting the deductible or co-payments. It is usually a percentage (ex: 20%, 30% or 40%) of the allowable amount.