graphic symbolizing "costs"
 

4 kinds of costs you may pay

There are 4 different kinds of health insurance costs you might have to pay.

 

People don’t like surprises when it comes to money. So we’re going to explain each of these costs to you.

 

Hover on a box to read more (or tap on your phone or tablet)

PREMIUM : Most health plans come with a premium you must pay every month, even if you don’t use your insurance. If you do not pay your monthly premium, you could lose your health insurance.

PREMIUM :
Most health plans come with a premium you must pay every month, even if you don’t use your insurance. If you do not pay your monthly premium, you could lose your health insurance.

DEDUCTIBLE: Each year, before your health plan pays for any health services you get, you have to pay for those services until you reach a certain dollar amount. This amount is called your deductible.

DEDUCTIBLE:
Each year, before your health plan pays for any health services you get, you have to pay for those services until you reach a certain dollar amount. This amount is called your deductible.

CO-PAY: A fixed dollar ($$) amount you pay when you get a health service, except for preventive services. A health service could be a doctor visit, a laboratory test, a prescription medicine or a visit to the emergency room.

CO-PAY:
A fixed dollar ($$) amount you pay when you get a health service, except for preventive services. A health service could be a doctor visit, a laboratory test, a prescription medicine or a visit to the emergency room.

CO-INSURANCE: Co-insurance is a part or percentage (%) of the total cost of some health services that you pay after you have met your deductible for the year. For example, if you have surgery, your health insurance would pay for most of it and you would for less of it.

CO-INSURANCE:
Co-insurance is a part or percentage (%) of the total cost of some health services that you pay after you have met your deductible for the year. For example, if you have surgery, your health insurance would pay for most of it and you would for less of it.


 

The amount and type of costs you will pay depends on which health plan you chose when you enrolled. Private health plans sold through state marketplaces or healthcare.gov come in four levels named after types of metals: bronze, silver, gold or platinum.

 
 
graphic showing 4 levels of health plans: platinum plans have the most expensive premiums; gold premiums are less than platinum but more than silver; silver premiums are cheaper than gold but more than bronze; bronze plans have the cheapest premiums
 
 

However, choosing a bronze plan for its low monthly premium will mean you will pay more in out-of-pocket costs like deductibles, co-pays and co-insurance.