Note that the deductible and out-of-pocket maximum explain 2 different ideas: the deductible is how much you'll pay for a covered procedure before your insurance coverage begins to pay, and the out-of-pocket optimum is the overall amount you'll spend for care including the deductible - How to cancel geico insurance. A copayment, frequently reduced to simply "copay," is a fixed amount that you pay for.

a particular service or prescription medication. Copayments are one of the manner…