Coinsurance: How much your health care provider will pay for a service you receive. This amount does not include your deductible. Copayment (Copay): The fixed amount you’ll pay for a health care service after you’ve paid your deductible. Deductible: The amount you’re responsible for paying for covered health care services before your insurance kicks in. Medicare: A federal insurance program for individuals 65 and over and specific health care needs. Medicaid: A free or low-cost insurance program for individuals with low-incomes, families and children, the elderly, pregnant women, and individuals with disabilities. Out-of-pocket maximum: The maximum amount you will be required to pay for covered health care services in a year. After you’ve paid this limit, your insurance will cover the rest. Premium: This is your monthly payment for health care coverage. It does not include things like your deductible.