How Does Health Insurance Deductible And Coinsurance Work? 
Deductibles are the amount of money you have to pay out of your own pocket before the insurance `` kicks in '' . For instance , if you have a $ 1000 deductible and your bill from the hospital is $ 3000 , you would pay the first $ 1,000 , then the insurance would pay their agreed upon portion of the remaining $ 2,000 . Co-insurance is similar to a co-pay in that it is your portion of the bill that is owed . The difference is that a co-pay is a set amount , say $ 20 per office visit where a co-insurance is a percentage of the bill . 