Now that you know about copays, deductibles, and coinsurance, we can delve a little deeper into how they work together. Each time you see a healthcare provider, you will likely be required to pay a copay, the entire amount, or the coinsurance amount, depending on the type of health insurance plan you have. For example, when you go to the doctor, they may file a claim with your insurance company and charge you a copay that will be applied toward your deductible. This will continue until you reach your specified deductible amount. Once you’ve hit that amount, coinsurance comes into play. You’ve already met your out-of-pocket costs, so whatever your specified coinsurance ratio/percentage is, you will now be responsible for that amount of any insurance bills moving forward until you reach your out-of-pocket maximum, or your policy runs out or renews (typically at the end of the calendar year).