Premium: This is the monthly premium you pay for your health insurance. You typically have to pay a deductible, copayments, and coinsurance in addition to your premium for your medical care. Co-pay: A copayment, also known as a co-pay, is a set sum that a patient must pay the service provider for a covered procedure. It is a customary fee that a health insurance plan requires an insured individual to pay for particular medical services like doctor visits or prescription drugs. It is paid before the patient receives the service. Co-insurance: This represents your portion of the price for a medical service. Usually, it's calculated as a percentage of the total amount of fees we approve for services. After you've paid the deductible for your plan, you begin paying coinsurance. Deductible: HMO: PPO: EPO:write  Summary of Benefits