Health Insurance terms can be confusing, so we'll do our best to keep it simple. A co-payment is a set fixed amount that you always pay for medication, medical office doctor visits or a procedure at a facility when you receive a service. This co-payment amount, even though it’s fixed, is part of your out-of-pocket expenses. This amount is also separate from any premiums or deductibles your health insurance plan has.Co-insurance is the amount, usually a percentage, that you share with your insurance carrier. Your insurance company pays a percentage and you pay a percentage. This amount, like a co-pay, is also separate from any premiums or deductibles.Here's a co-insurance scenario…let’s say you’ve already met your deductible for the year and you have an insurance plan that has 80% / 20% co-insurance coverage after your deductible is met. If you were to go to the doctor and the fee for your visit is $100.00, you would pay $20.00 and your insurance company would pay $80.00, this is your “co-insurance” amount.Important note, with a major medical policy there is a co-pay and co-insurance “maximum out of pocket” amount you will pay. Once you have paid out the "maximum out pocket" amount, the policy usually covers the remainder of your expenses. Policies vary, so it is important to read your policy documents carefully. Or, if you are not into reading insurance policies then call your health insurance broker or the insurance carrier's customer service department with your questions.Want to read more about Co-pays and deductibles? visit www.debt.org/medical/health-insurance-premiums/