Health insurance can be difficult, especially when you’re tasked with selecting a group policy for your business. It’s important to understand the deductible, copay, and coinsurance options in order to educate employees about their benefits and save them from surprises later on.


A deductible is the fixed amount an individual is responsible for paying before they can take advantage of their full health insurance benefits.


A copay is a flat fee owed at the time of a medical service or for a prescription, leaving the remaining balance for the insurer.


Coinsurance kicks in after a deductible is met and requires the patient to pay a percentage of healthcare expenses, while the remainder is left for the insurer to pay.

Our insurance affiliate, Doeren Mayhew Insurance Group, further explores each of these options in their full article here.