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# What is the difference between a Copay and Coinsurance?

Copays are flat-fees that you pay during a visit to a health provider or for prescription medications. Coinsurances are similar to copays, but instead of a flat-fee, you pay a percentage of the cost of service or prescription. For example, a 20% coinsurance for a $200 bill means you would pay $40. 

Each insurance plan will have an out-of-pocket maximum and that number will be the absolute maximum you will have to contribute annually and this includes copays and coinsurance fees along with deductibles. Any other costs associated with your healthcare is expected to be covered by your insurance company. 

For more assistance, please feel free to reach out to our Support Team at [support@miresource.com](mailto:support@miresource.com).