What is the difference between Copay and Deductible? - ProProfs Discuss
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What is the difference between Copay and Deductible?

Asked by Deborah , Last updated: Jan 18, 2021

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8 Answers

I.Isabella

I.Isabella

I.Isabella
I.Isabella

Answered Dec 09, 2020

Health insurance deductible is a fixed amount of money you must pay every year before your insurance fully kicks in. After you pay this amount, your health insurance starts to pay its share of your medical bills. There is no assurance that when you pay your deductible in full, the insurance company will cover your entire medical payment from that point on.

You will still have to split the costs through coinsurance or co-pay until you hit the out of pocket limit. The deductible is the amount every patient must pay out of their pocket, including co-pays, deductibles, and coinsurance.On the other hand, co-pay is the fixed amount of money you need to pay each time you visit you visit a health care provider, like a doctor, and for all prescriptions filled through the pharmacy. Co-pay allows the health insurance company to share bills with you.

The co-pay amount typically depends on the type of doctor you need to see, and it varies based on the types of medications you will need to purchase in terms of generic or brand name drugs. It may also hinge on whether you see a doctor within your health insurance network. The main feature of co-pay is that once you pay the fixed amount, the health insurance company covers the rest of the bill. You must pay both your deductible and co-pay for the health insurance company to protect you.

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Noah

Noah

Driving down to Knowledge town

Noah
Noah , Chauffer, LA

Answered Nov 27, 2020

Copay and deductible are two health insurance programs, and each has its benefits. A copay is a fixed amount of money you must pay for the medical services you have enjoyed before your insurance company can pay for the remaining balance. For instance, if your insurance plan allows you to pay a $50 copay after meeting with a doctor, your insurance company will pay for the remaining balance for any medical expenses you are billed to pay. However, you must have first paid the $50 copay before your insurance company can pay the rest. On the other hand, a deductible is a fixed amount you must pay annually to enjoy the benefits of a health insurance company. A deductible differs from a copay in that the amount for a deductible is paid annually, whereas the fixed amount for a copay is paid on every visit to any healthcare provider. Also, you won't enjoy any benefits from your insurance company if you are yet to meet a deductible.
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Ben

Ben

But Can you play this?

Ben
Ben , Professional Gamer, Styria

Answered Nov 27, 2020

The term deductible is a health insurance program in which you will need to pay a fixed amount of money every year before you can start enjoying the benefits. If you have not fully paid for the deductible, you will still be the one to pay for your medical bills. However, once you can pay this amount, you will no longer pay all your medical bills by yourself. This health insurance program will start paying its share of the medical bills. On the other hand, the copay is a health insurance program in which you will need to pay a fixed amount of money anytime you receive the service of a health care provider, or each you get any drug from a pharmacy. The amount you will pay for this insurance program depends on the type of medical treatment you need to receive. As soon as you pay this fixed amount, this health insurance will help you pay the rest of your medical bills.
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Zack

Zack

Find happiness in writing new things.

Zack
Zack , English Professor, PhD, Basel

Answered Nov 22, 2020

Copays and deductibles are known to be two of the features that can be offered in insurance plans. The deductible is known to be the amount that should be paid to cover healthcare services before the insurance company begins paying. Copays, on the other hand, have already been charged after the deductible has already been met. There are instances when copays are immediately applied. A copay is normally fixed. The remaining balance will be covered by the insurance company. Take note that if the deductible is not paid for, the health insurance company will not cover the given costs. When you have a higher premium, expect to have a lower copayment. Your deductibles will also be higher that way.
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youness

youness

Building buildings and building intelligence

youness
Youness , Builder, B. Tech, Bern

Answered Nov 18, 2020

When you say copay, this is a type of flat fee that you need to pay whenever you have a doctor’s appointment. The amount that you will pay for the consultation fee will be called the copay. Take note that you will know what your copay is based on what has been written on your health card. It will also depend on how much your insurance is in general. A deductible, on the other hand, is the amount that you have to pay every year in order to get the medical services that you may require. You will be given a choice to decide on the amount of deductible that you will pick alongside your insurance. Your insurance health plan may come with copays and deductibles.
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Bart

Bart

Learning new things along with my music

Bart
Bart , Musician, BA, Lausanne

Answered Nov 18, 2020

Copays and deductibles are known to be two of the features that can be offered in insurance plans. The deductible is known to be the amount that should be paid to cover healthcare services before the insurance company begins paying. Copays, on the other hand, have already been charged after the deductible has already been met. There are instances when copays are immediately applied. A copay is normally fixed. The remaining balance will be covered by the insurance company. Take note that if the deductible is not paid for, the health insurance company will not cover the given costs. When you have a higher premium, expect to have a lower copayment. Your deductibles will also be higher that way.
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O.Olivia

O.Olivia

O.Olivia
O.Olivia

Answered Jul 20, 2020

When you say copay, this means that you are dealing with an amount that has a fixed rate. No matter what you do, the amount that you have to pay for will remain to be the same. It is different when you make use of your deductible. Every time you would use your health plan, you need to pay out of pocket first before it will get approved.

When you say copay, this means that you are dealing with an amount that has a fixed rate. No matter
Take note that in most cases, a copay will not go towards the deductible. Consider these two things because you know how expensive it would be to get sick and to get treated. You need to be prepared at all times so that you will not have any problems with getting the right treatments that you are searching for.

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C.Charlotte

C.Charlotte

C.Charlotte
C.Charlotte

Answered Jul 20, 2020

Copay is known to be a type of fixed fee that you will pay for. You need to pay for this when you get covered care. Covered care will involve some activities like visiting the office or getting prescription drugs. When you say deductible, this means that you would need to pay for this amount upfront.

Copay is known to be a type of fixed fee that you will pay for. You need to pay for this when you
This means that it is only after the details about this has been approved by your insurance company, that is the only time when you will get the money that you have paid for. Take note that your copay will not usually go to your deductible. Knowing the distinction between the two will definitely help you out.

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