Deductible vs copay vs coinsurance, by consequence

Three words run your health-insurance costs: deductible, copay, and coinsurance. Here's each by what it does to your wallet.

Your deductible is what you pay yourself before the plan starts sharing costs. A copay is a flat fee for a specific service — thirty dollars for a visit, say. Coinsurance is a percentage you pay after the deductible — twenty percent of the bill.

They stack. You pay your deductible, then coinsurance, until you hit your out-of-pocket maximum — after which covered care is free for the rest of the year.

So when you compare plans, don't just look at the premium. Look at what a normal year and a bad year actually cost you.